Bursa Malaysia Q4 net falls to RM29.8m

BURSA Malaysia Bhd registered a 70 per cent decline in its 2010 fourth quarter net profit, mainly due to the absence of extraordinary gains.

Net profit fell to RM29.78 million during the quarter. For the full year, net profit declined 36 per cent to RM113 million.

In 2009, the company made a gain of RM76 million for selling a 25 per cent stake in Bursa Malaysia Derivatives Bhd. Excluding the capital gain in 2009, Bursa's full year net profit would be 11 per cent higher.

Chief executive officer Datuk Yusli Mohd Yusoff said he is pleased with the company's overall results and is confident of a better performance this year.

"We are confident that the company is well-positioned for continued growth this year, in view of the positive market sentiment that we have witnessed.

"The steady performance of the securities market demonstrates the confidence of investors in capitalising on the growth prospects of the economy and positive transformation plans by the government," he said. - by Goh Thean Eu, btimes.com.my