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BURSA Malaysia Bhd (1818) reported an 81 per cent surge in its first quarter net profit on better trading activity and expects a better performance for the full-year.

The stock and derivatives exchange operator expects higher interest in the Malaysian market following government plans to transform the economy to achieve higher growth.

” … we expect the securities market to continue to be resilient throughout the year,” Bursa said in a statement on its website yesterday.

Bursa made a net profit of RM28.1 million for the quarter to March 31 2010, as against RM15.5 million for the same quarter a year ago.

Revenue was up 37 per cent to RM88.1 million.

The stock market was up 3.8 per cent for the quarter under review. So far this year, it has gained 5 per cent.

Shares of Bursa have lost 5 per cent so far this year. It closed 0.3 per cent up to RM7.60 yesterday.

Equities trading revenue for the first quarter doubled to RM39.6 million as investor sentiment improved. The daily average trading value for on-market and direct business trades more than doubled to RM1.53 billion against the same quarter a year ago.

Stable revenue or income from listing fees and issue fees also improved 14 per cent to RM26 million due to higher listing fees and more initial public offerings, new warrants and secondary issues.

However, derivatives trading revenue fell 9 per cent to RM8.5 million due to lower trades in the FTSE Bursa Malaysia KLCI futures contracts.

“Interest in the Malaysian derivatives market is expected to improve upon the migration of derivatives products and trading activity onto CME Globex electronic trading platform in the second half of 2010,” Bursa said.

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Bursa Malaysia Securities Bhd issued an Unusual Market Activity (UMA) query to Limahsoon Bhd yesterday due to the recent sharp increase in the price of the company’s shares.

The UMA query is posted on Bursa Malaysia’s website, www.bursamalaysia.com, under the classification of “Listing Circular”, said Bursa in a statement.

Investors are advised to take note of the company’s reply to the UMA query which will be posted at Bursa Malaysia’s website under

http://announcements.bursamalaysia.com, when making their investment decision.

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All companies on Bursa Malaysia are required to provide eDividend option to shareholders by September 1 this year

Share investors have been encouraged to take up a new service under which dividend payments from listed companies will be credited directly into their bank account, instead of through cheques as is the current practice.

All companies on Bursa Malaysia are required to provide this eDividend option to shareholders by September 1 this year as part of the country’s effort to boost payment efficiency.

“There are currently more than four million Central Depository System (CDS) accounts and I hope to see all these account holders come on board to use this new service,” Bursa Malaysia chief executive officer Datuk Yusli Mohamed Yusoff told a media briefing in Kuala Lumpur yesterday.

Shareholders can start providing their bank account details to their stockbrokers from April 19 onwards through the submission of an eDividend form.

They can get the form from their stockbrokers or download it from the stock exchange website.

Individual shareholders must submit the form with a copy of their identification card and a certified copy of their bank statement, or bank account book, together with the original documents for verification.

Share owners are given a one-year grace period to convert to the eDividend service for free. Those who provide the bank details after April 18 next year will be charged a one-off administration fee, which has yet to be determined, Yusli said.

He said the paperless dividend payment system is convenient and faster for shareholders and helps avert potential problem of misplaced, lost or expired cheques.

The eDividend initiative was mooted when Prime Minister Datuk Seri Najib Razak, in his 2010 Budget speech last year, called upon listed firms to offer the service to shareholders.

Out of the 900 or so firms listed on Bursa Malaysia, more than 500 are paying dividends to shareholders. At present, eight, including British American Tobacco, Nestle, Malayan Banking and Bursa Malaysia, are offering eDividend.

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