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Bursa Malaysia’s net profit drops 44% in Q1

Bursa Malaysia’s net profit in Q1 2022 declined 44% to MYR68m from MYR121.4m in the year-ago period. Operating revenue slid 29.4% to MYR161m, while the average daily trading value of securities nearly halved to MYR2.6bn. Muhamad Umar Swift, chief executive officer of Bursa Malaysia, said the average daily trading value of securities has continued to normalise to pre-pandemic levels, after uncharacteristically high activity since the Movement Control Order in early 2020, which contributed to the decline in profit for the first quarter. Umar expects trading conditions to improve in the coming quarters, as the reopening of international borders from April will boost the country’s economic activities. Bank Negara Malaysia has projected Malaysia’s growth to be between 5.3% and 6.3% for the full year.

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