Stock Name: BURSA
Company Name: BURSA MALAYSIA BHD
Research House: OSK
Company Name: BURSA MALAYSIA BHD
Research House: OSK
OSK Research has upgraded its target price for Bursa Malaysia Bhd to RM9.90, from RM9.60, previously as it remained bullish of the local bourse's prospects.
"Given robust equities and derivatives turnover, we expect Bursa's results for the first quarter of 2011, due April 19, to be stronger with net profit of between RM35 million and RM40 million," the research house said today.
It had also raised FY11-FY13 assumptions for daily turnover volume to between 1.3 billion and 1.6 billion from between 1.0 billion and 1.2 billion.
It said daily turnover value was expected between RM1.8 billion and RM2.2 billion from RM1.5 billion and RM1.8 billion previously.
OSK also raised operating costs to include higher technology and
depreciation charges and nudged up FY11-13 net profit forecast between two and six per cent.
"We expect more initiatives from Bursa. There were talks that it might launch sukuk and conventional bonds to meet retail investors' demand for fixed income instruments. We think retail participation in the bond market will accelerate Bursa's velocity.
"There were also talks of collaboration with London Stock Exchange to trade each other's shares. If this happens, it could further increase market liquidity," it added. -- Bernama
"Given robust equities and derivatives turnover, we expect Bursa's results for the first quarter of 2011, due April 19, to be stronger with net profit of between RM35 million and RM40 million," the research house said today.
It had also raised FY11-FY13 assumptions for daily turnover volume to between 1.3 billion and 1.6 billion from between 1.0 billion and 1.2 billion.
It said daily turnover value was expected between RM1.8 billion and RM2.2 billion from RM1.5 billion and RM1.8 billion previously.
OSK also raised operating costs to include higher technology and
depreciation charges and nudged up FY11-13 net profit forecast between two and six per cent.
"We expect more initiatives from Bursa. There were talks that it might launch sukuk and conventional bonds to meet retail investors' demand for fixed income instruments. We think retail participation in the bond market will accelerate Bursa's velocity.
"There were also talks of collaboration with London Stock Exchange to trade each other's shares. If this happens, it could further increase market liquidity," it added. -- Bernama
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