PETALING JAYA: Bursa Malaysia Bhd’s net profit for the first quarter ended March 31, 2019 fell 26.5% to RM46.86 million from RM63.78 million a year ago due to a 16.2% drop in operating revenue to RM121.4 million from RM144.8 million a year ago. Revenue for the quarter fell 16% to RM126.53 million from RM150.71 million a year ago while total operating expenses was 1.4% lower at RM62 million compared with RM62.9 million a year ago. Annualised return on equity fell 7ppt to 23% while basic earnings per share was 2.1 sen lower at 5.8 sen. Market capitalisation as at March 31, 2019 stood at RM1.7 trillion, marking an 8.8% year-on-year decline. During the quarter, the securities market saw a 22.6% decline in trading revenue to RM59 million from RM76.3 million a year ago, due to lower average daily trading value (ADV) for securities market’s on-market trades during the quarter. The total non-trading revenue fell 7.6% to RM42.1 million from RM45.6 million a year ago mainly due to … [Read more...] about Bursa Malaysia Q1 net profit down 26.5% on lower operating revenue
Malaysia
Bursa Malaysia ends marginally lower
KUALA LUMPUR: Bursa Malaysia ended slightly lower today, with the benchmark index easing 0.06% on mild profit-taking in selected blue chips including Public Bank and Petronas Chemicals. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) lost 0.98 of-a-point to 1,637.40 from Friday’s close of 1,638.38. After opening 1.08 points lower at 1,637.30, the index moved between 1,631.83 and 1,637.49 throughout the session. On the broader market, losers overwhelmed gainers 623 to 255, while 341 counters were unchanged, 693 untraded and 60 others suspended. Turnover stood at 2.53 billion shares worth RM1.64 billion. However, the losses were capped by news report which quoted an analyst as saying he expected a fund flow reversal in Malaysia’s equities market as early as the third quarter of this year. Rakuten Trade head of research Kenny Yee in a media briefing today said this expectation was underpinned by a weaker ringgit, revival of mega projects and improvement in crude palm … [Read more...] about Bursa Malaysia ends marginally lower
Bursa Malaysia records lower earnings in first quarter
PETALING JAYA: Bursa Malaysia Bhd’s net profit for the first quarter ended March 31, 2019 fell 26.5% to RM46.86 million from RM63.78 million a year ago due to a 16.2% drop in operating revenue to RM121.4 million from RM144.8 million a year ago. Revenue for the quarter fell 16% to RM126.53 million from RM150.71 million a year ago while total operating expenses was 1.4% lower at RM62 million compared with RM62.9 million a year ago. Annualised return on equity decreased by 7ppt to 23% while basic earnings per share was 2.1 sen lower at 5.8 sen. Market capitalisation as at March 31, 2019 stood at RM1.7 trillion, marking an 8.8% year-on-year decline. “The first quarter of the year remained challenging on the back of weaker sentiment largely influenced by external concerns. These concerns are wide ranging, and are driving uncertainty in the global economy. The spill over of this impact is also affecting businesses of all sizes in our local economy,” said Bursa Malaysia CEO … [Read more...] about Bursa Malaysia records lower earnings in first quarter
Malaysia Airlines offers up to 50% off on airfares
PETALING JAYA: Malaysia Airlines is offering up to 50% off on airfares along with more travel benefits and opt-in options from today until May 8 with its latest Ultimate Travelicious Deals campaign. Customers travelling to international destinations will be able to enjoy return Economy Promo fares, with 20kg baggage allowance, from as low as RM379 to Phuket, from RM399 to Kochi and RM629 to Bali, or fly to China from as low as RM589 to Nanjing, from RM689 to Hong Kong and from RM1,089 to Shanghai. Other destinations on offer include Perth from RM999, Seoul from RM1,099, Tokyo from RM1,199 and London from only RM2,499. Meanwhile, customers without any need for baggage can enjoy Economy Lite one-way fares to domestic destinations which starts from as low as RM69 to Penang and Langkawi, from RM99 to Kuching, and from RM159 to Kota Kinabalu. All fares are valid for travel from April 29, 2019 until March 31, 2020, and comes with 7kg of cabin baggage allowance, complimentary refreshments, … [Read more...] about Malaysia Airlines offers up to 50% off on airfares
Malaysia’s High Court dismisses Najib’s application to strike out charges, corruption trial to go on
KUALA LUMPUR (THE STAR/ASIA NEWS NETWORK) - The High Court in Malaysia has dismissed former prime minister Najib Razak's application to strike out the charges in his corruption trial. Justice Mohd Nazlan Mohd Ghazali ruled that the charges against Najib were not structured in a way that could mislead or prejudice him to the point he could not put up a proper defence. "For the following broad reasons, this application is denied," he said. Last Friday (April 26), Najib's defence lawyers argued that the charges could prejudice the case, as they lacked clarity and clashed with one another. The former Solicitor-General II Mohd Yusof Zainal Abiden said that the charges of criminal breach of trust (CBT) lacked clarity, failing to specify which of the five possible types of CBT were alleged to be committed. Defence lawyer Kamarul Hisham Kamaruddin added the charges of corruption were at odds with each other and could not be tried concurrently with CBT. Referring to the RM42 million … [Read more...] about Malaysia’s High Court dismisses Najib’s application to strike out charges, corruption trial to go on