Sultan Nazrin calls on corporations to set up CSOD online platform

Inve$t | Market Sentiments | 25 November 2022

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Sultan of Perak Sultan Nazrin Shah called on Malaysian corporations to establish and maintain a corporate sustainability open data (CSOD) online platform that consists of relevant data on all sustainability-related issues, which is accessible to the public. Transparent provision of credible and comprehensive sustainability data should become an essential aspect of environmental, social, and governance (ESG) commitments by corporations. It should be undertaken voluntarily by companies, going beyond the mandatory sustainability reporting schemes that most corporations are already subject to. Sultan Nazrin was speaking in a royal address at the GO ESG Asean Summit 2022. His Royal Highness added that the CSODs should also provide information on the companies’ future sustainability goals, so that the public can keep track of their implementation and progress.  

A good example of a CSOD already in operation is ESGenome, which was launched by the Singapore Exchange. This portal facilitates the reporting of ESG data in a structured and efficient manner. The data made available on ESGenome can be freely accessed by investors and other stakeholders, thereby helping them to make informed decisions relating to their investments and corporate evaluations. The corporate sector is urged to make significant contributions to the achievement of the Sustainable Development Goals (SDGs) by acting more responsibly and harnessing its own resources, including human capital, technology, and innovation. Companies and government departments across Asean must be able to demonstrate convincingly to their populations that all policies being developed to address the climate crisis are fully justified by the data. They must also be able to show that they are following through these policies in practice, and meeting the targets that have been set. All of this is only possible through the use of credible, transparent, and longitudinal sources of data. His Royal Highness stressed the importance of data gathering and dissemination — a process sometimes termed “data curation” — noting that data modalities that have been used traditionally must be diversified to address the deficit of quality data on sustainability-related matters.  

Dissemination of such enhanced and expanded data sets would also help create greater awareness of the climate crisis and all its complexities, beyond the realm of sustainability and development specialists. This could displace the repetition of rhetorical pleas, and help to secure buy-in to the sustainability agenda from a broader range of stakeholders, including government agencies, corporates, non-governmental organisations, and the general public. The one-day GO ESG Asean Summit 2022 aims to highlight the key role of ESG data in accelerating the region’s sustainability agenda. The theme was Data Driven Sustainability: Accelerating ESG Impact for Asean.  

Executives, non-executives’ salaries expected to increase by 5.4pc in 2023 – MEF 

According to a survey by the Malaysian Employers Federation, salaries for executives and non-executives in Malaysia are expected to increase by 5.44 per cent and 5.43 per cent, respectively, in 2023. President Syed Hussain Husman, told reporters after officiating the 28th edition of the MEF Salary Surveys for Executives and Non-Executives on Wednesday (Nov 23). He said approximately 90 per cent of companies surveyed attributed employees’ performance as the main criteria for determining executive and non-executive salary increases. The business respondents seemed to be positive that Malaysia’s economy is generally going to be stable next year despite the expectation of a global recession. This was on the back of positive recovery of most businesses since the reopening of the economy after the (Covid-19) pandemic. He added the survey also indicated that 93 per cent of employers granted salary increases to executive and non-executive employees in 2022, which was a significant increase from 65.2 per cent and 66.4 per cent, respectively, in 2021. 

Syed Hussain said the survey showed that the average salary increases for executives and non-executives in 2022 was 5.26 per cent and 5.35 per cent, respectively, with more than 80 per cent of the responding companies granting bonuses. The forecast for bonuses in 2023 is 2.18 and 2.06 monthly salary for executives and non-executives, respectively, which was higher than the actual bonus in 2022 of 2.06 months and 1.77 months, respectively.  

The MEF president said the survey also covered the implementation of the Minimum Wages Order 2022, which increased the minimum wage to RM1,500 per month and impacted 70.3 per cent of the companies surveyed. He said those companies not affected by the new minimum wage cited that the main reason was that their employees’ salaries had already surpassed the minimum level. He added 53.4 per cent of the respondent companies also anticipated an increase in their overall salary or wage costs following the implementation of the new minimum wage. He said 59.7 per cent of the respondent companies planned to reduce their operating expenses to mitigate the impact of the new minimum wage while another 48.8 per cent cited an increase in the price of their products or services as their adopted measure. Another 43.8 per cent of respondent companies intend to implement cost-cutting measures in other areas of production while 36.8 per cent intend to shift from labour-intensive to technology-intensive production. 

Commenting on the current shortage of employees in the country, executive director Datuk Shamsuddin Bardan said the situation needed to be addressed quickly as Malaysia is now competing with other countries to get foreign workers. Employers cannot totally depend on the government to resolve this problem. They must also step up efforts to modernise their operations by adopting new technologies to attract local workers. 

The MEF Salary Survey for Executives saw 252 companies responding from the manufacturing and non-manufacturing sectors while 250 member companies participated in the Salary Survey for Non-Executives. Apart from the salary surveys, the MEF also launched the MEF Fringe Benefits Survey 2022 and the Analysis of Collective Agreements and Awards on Terms and Conditions of Employment 2021. 

Eye On The Markets 

This week, on Friday (25Nov), the Ringgit opened at 4.4780 against the USD from 4.5825 on Monday (21Nov). Meanwhile, the Ringgit was 3.2535 to the Sing Dollar on Friday (25Nov). On Monday (21Nov), the FBM KLCI opened at 1434.55. As at Friday (25Nov) 10:00am, the FBM KLCI is up 50.53 points for the week at 1485.08. Over in US, markets were closed for the Thanksgiving holiday. 

Bursa Malaysia inks MOU with the Companies Commission of Malaysia

Inve$t | Market Sentiments | 17 November 2022

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Bursa Malaysia Berhad and the Companies Commission of Malaysia (SSM) today signed a Memorandum of Understanding to undertake a 3-year collaboration with three core initiatives to benefit SME in the Malaysia economy. The framework of the MoU includes: 

  • to jointly explore commercial opportunities for both Bursa Malaysia and SSM that support corporate Malaysia’s digital economy growth aspiration, as guided by the Malaysia Digital Economy Blueprint;  
  • Data-sharing between Bursa Malaysia and SSM for in-depth analytics that provide greater strategic decision-making insights for businesses as encouraged by the National Data Sharing Policy; and  
  • Driving the Environmental, Social and Governance agenda for Malaysian business ecosystem with impactful programmes. 

The new collaboration will be to leverage the combined potential of Bursa Malaysia’s and SSM’s datasets to build a first-of-its-kind data ecosystem that supports Malaysia’s socio-economic development agenda. The platform, comprising datasets of corporate Malaysia from both small-medium enterprises and public listed companies, will facilitate the development of in-depth meaningful analytics and solutions for the fund-raising community in the capital market, as well as the business community at large. 

Driving the ESG agenda, Bursa Malaysia and SSM will work together to encourage corporate Malaysia to focus on improving disclosures and access to capital through ESG best practices in respective industries. Public listed companies, from financial institutions to manufacturing businesses, can act as catalysts of the Malaysia’s economy to improve data and transparency in their supply chain. 

According to Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia, the MoU between Bursa Malaysia and SSM today provides the Exchange a trusted partner both in terms of improving our combined data capacity, as well as the opportunity in empowering the local business community through data and information sharing. In addition to building a centralised data system that connects businesses with the funding agencies, this collaboration will allow smaller businesses to learn from best practises from larger corporations. 

Meanwhile Datuk Nor Azimah Abdul Aziz, SSM Chief Executive Officer, said that SSM has a comprehensive data bank consisting of details on information relating to company and other business entities’ profiles, share capital, directors, officers, shareholders, charges and financial information. Through this MoU, information derived from this meaningful collaboration would be further analysed to create a holistic, inclusive, and conducive data ecosystem that supports the overall Malaysia’s socio-economic development agenda, especially the SMEs that comprised 99% of the corporate and business entities in SSM’s registries.  

Malaysia IPO market still strong – Deloitte 

According to Deloitte, Malaysia’s initial public offering (IPO) market has emerged from the Covid-19 pandemic with a 102% increase in the proceeds raised at US$681mil (RM3.12bil) compared to 2021, driven by investor demand for good business fundamental companies. The global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and legal company also said that the number of ACE Market listings had doubled from 11 in 2021 to 22 this year. It said the interest rate hike would potentially encourage more companies with good business fundamentals to seek a listing, as they can leverage the equity market for a diversified and cheaper funding base.  

According to Deloitte Malaysia disruptive events advisory leader Wong Kar Choon, at the Deloitte virtual press conference titled 2022 SEA IPO Market Performance and Outlook, there remained a steady pipeline of companies looking to tap the capital markets. He added, the strong performance in 2022, against a backdrop of global inflation, rising interest rates and the threat of a recession, is proof of the resilience of the Malaysian capital market.  

Meanwhile Deloitte South-East Asia and Singapore disruptive events advisory leader Tay Hwee Ling said that prior to the Covid-19 pandemic, the IPO activity moved in tandem with the economy and gross domestic product growth, but the inverse had happened in the last two years. The reopening of the world economies and borders have fuelled a rise in global inflation from 4.7% in 2021 to 8.8% in 2022, and consequently an increase in the Federal Reserve interest rate of almost 4% over the course of the year in a bid to tame the surging inflation. In the face of these macroeconomic factors, the South-East Asia IPO market has held up considerably well, while we continue to see the growth potential in our economies. 

Eye On The Markets 

This week, on Thursday (17Nov), the Ringgit opened at 4.5470 against the USD from 4.6195 on Monday (14Nov). Meanwhile, the Ringgit was 3.3181 to the Sing Dollar on Thursday (17Nov). On Monday (14Nov), the FBM KLCI opened at 1447.40. As at Thursday (17Nov) 10:00am, the FBM KLCI is down 21.59 points for the week at 1468.99. Over in US, the overnight Dow Jones Industrial Average closed down 39.09 points (-0.12%) to 33,553.83 whilst the NASDAQ shed 174.75 points (-1.54%) to 11,183.66. 

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Malaysia will avert technical recession – RHB IB

Inve$t | Market Sentiments | 11 November 2022

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According to RHB Investment Bank Bhd (RHB IB) group chief economist and head of market research Dr Sailesh K Jha and associate research analyst Wong Xian Yong, their third quarter of 2022 (3Q2022) GDP estimate is 10-12% year-on-year (y-o-y). In a note on Wednesday (Nov9), the two economists revised their 2022 GDP growth estimate to 7% y-o-y from 6% on the back of stronger-than-anticipated consumer spending in 3Q2022 and resiliency of the consumer in 4Q2022. The balance of risks is tilted towards Bank Negara Malaysia hiking the overnight policy rate (OPR) at every MPC (Monetary Policy Committee) meeting in 1H2023 to 3.5%. 

Jha and Wong said despite all the “doom and gloom” prevalent in global financial market sentiment as it pertains to the outlook for US and global growth, with fears of a deep and prolonged recession in place, they are firmly in the camp that Malaysia’s business cycle is headed for a cyclical slowdown from 4Q2022 to 2Q2023 to trend or slightly below trend, on average. They don’t anticipate a technical recession on the horizon. They estimate for Malaysia’s trend GDP (gross domestic product) growth at around 5% y-o-y. In 2H2023, they expect a recovery in Malaysia’s GDP growth led by the consumer.  

The economists said Malaysia’s business cycle peaked in 3Q2022. The leading indicator for GDP (LEI) suggests that the 3Q2022 print could be in the 10-12% y-o-y range and 4Q2022 could print around 2.30-5.83% versus the 1H2022 print of 7%. These forecasts have taken into consideration that the LEI has underestimated GDP growth by 1-2 percentage points, on average, historically. Hence, these are the forecasts generated from a top down perspective. From a bottoms up perspective, for 3Q2022 GDP we obtain an estimate of around 11% and for 4Q2022 GDP it’s around 4%. 

Jha and Wong also said they forecast that a technical recession is unlikely in 2023. The Malaysian stock market is in a sustained bear market on an annualised basis for more than two quarters. Consumer sentiment as measured by the Malaysian Institute of Economic Research Consumer Sentiment Index (MIER CSI) drops well below the 80-85 range. Quarterly real exports of electrical and electronic products exhibit contractions on a year-on-year basis. 

Bursa Malaysia completes retail CX analytics PoC 

Bursa Malaysia Berhad, in a statement (8Nov) announced the successful completion of its Retail Customer Experience (CX) Analytics Proof-of-Concept (PoC), a data-driven analytics project piloted on the exchange’s cloud and artificial intelligence (AI) platform. Bursa Malaysia said the PoC was undertaken in collaboration with four participating organisations (POs), namely Hong Leong Investment Bank Bhd, CGS-CIMB Securities Sdn Bhd, Malacca Securities Sdn Bhd and RHB Investment Bank Bhd, with the aim of advancing the development of the capital market’s investor base. 

It said leveraging its in-depth industry-wide datasets, the Exchange developed a machine learning model built on its AI and cloud platform while also tapping into participating POs’ deeper understanding of their retail customer segments and distinct behaviours. A hyper-personalisation approach was applied to aid in the design of customised initiatives to cater to distinct retailers’ needs with the aim of bridging information gaps and improving retailers’ financial literacy. It added, this cloud-enabled model facilitates multi-party collaboration in an efficient and cost effective manner while driving a ‘single-source-of-truth’ perspective in the metrics used to identify trends and insights. 

Chief executive officer Datuk Muhamad Umar Swift said the exchange would invest in accelerating its digital transformation journey in new technology and data analytics for successful customer outcomes in an effort to better understand the increasingly complex and changing investor behaviour. This collaboration served as a platform for Bursa Malaysia and participating POs to explore and co-create more solutions on areas that are impactful to the industry, capitalising on data-driven and digital capabilities. He said, the exchange is committed to investing in advanced technology that will improve the data solutions and CX experience we provide to our stakeholders. 

Meanwhile, head of bursa data business Wong Chiun Chiek said in addition to the PoC, Bursa Malaysia has established a Minimum Viable Product (MVP) that included a decision-making framework. This is in line with Bursa Malaysia’s strategic intent to offer new and innovative services to the industry using data and digital technologies. The Exchange added that with the completion of the PoC, it is moving closer to turning the MVP into a market-ready product and Bursa Malaysia would work closely with participating POs in order to continuously improve and refine the solution.  

HEINEKEN Malaysia Reports 3QFY22 Results 

Heineken Malaysia Berhad announced its financial results for the third quarter and nine months ended 30 September 2022, once again reporting an improved performance against pre-pandemic levels. The results demonstrated the brewer’s continued efforts in driving sustainable growth amidst the improving external environment post-pandemic. Compared to the same period in 2019, HEINEKEN Malaysia’s revenue and net profit increased by 26% and 39% respectively in the first nine months of 2022. 

Compared to the same quarter in 2021, Group revenue in Q3 grew by 85% to RM720.5 million, mainly due to strong post-COVID recovery following the reopening of international borders, increased on-trade consumption as well as positive mix impact from the Group’s premium portfolio growth. Net profit in Q3 grew significantly by 113% to RM108.7 million. The growth was driven by revenue growth as highlighted above as well as driving efficiency through cost and value initiatives whilst the Group continued to invest behind its brands and capabilities in line with its EverGreen strategy. 

For the nine-month period, Group revenue and net profit increased by 60% and 106% respectively versus the nine months ended 30 September 2021, mainly driven by low volume last year as the brewery was closed due to the Movement Control Order. In addition, the Group’s performance was enhanced by a strong Chinese New Year festive period, steady recovery for the on-trade business, better revenue and cost management. 

Commenting on the results, Roland Bala, Managing Director of HEINEKEN Malaysia, said, “Our performance for Q3 2022 was commendable as the economy continues to open up, on-trade business and tourism sectors continue to recover compared to a weaker Q3 2021 due to widespread MCO. We are truly grateful for the strong support of our consumers, customers and trade partners for our brands. We thank our team at HEINEKEN Malaysia for their passions and courage in transforming our operations and quickly adapt to the new business challenges. We will continue to focus on executing our EverGreen Strategy to drive sustainable growth.” 

Eye On The Markets 

This week, on Friday (11Nov), the Ringgit opened at 4.6375 against the USD from 4.7450 on Monday (7Nov). Meanwhile, the Ringgit was 3.3527 to the Sing Dollar on Friday (11Nov). On Monday (7Nov), the FBM KLCI opened at 1441.18. As at Friday (11Nov) 10:00am, the FBM KLCI is up 19.21 points for the week at 1460.39. Over in US, the overnight Dow Jones Industrial Average closed up 1201.43 points (+3.70%) to 33,715.37 whilst the NASDAQ gained 760.97 points (+7.35%) to 11,114.15. 

Bank Negara hikes OPR by 25bps to 2.75%

Inve$t | Market Sentiments | 4 November 2022

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The Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to increase the Overnight Policy Rate (OPR) by 25 basis points to 2.75 percent. The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 3.00 percent and 2.50 percent, respectively. For the Malaysian economy, latest indicators show that economic activity strengthened further in the third quarter, driven primarily by robust domestic demand. Going forward, despite the challenging global environment, domestic demand will remain the key driver of growth.  

Household spending will continue to be underpinned by improvements in labour market conditions and income prospects. Tourist arrivals have increased following the reopening of international borders and will further lift tourism-related sectors. Investment activity and prospects will be supported by the realisation of multi-year projects. Nevertheless, external demand is expected to moderate following softening global growth. Despite bouts of heightened volatility in the global financial and foreign exchange markets, these developments are not expected to derail Malaysia’s growth. Domestic liquidity remains sufficient, with continued orderly functioning of the financial and foreign exchange markets. Financial institutions also continue to operate with strong capital and liquidity buffers. These will ensure financial intermediation remains supportive of the economy. Downside risks to the domestic economy continue to stem from a weaker-than-expected global growth, higher risk aversion in global financial markets amid more aggressive monetary policy tightening in major economies, further escalation of geopolitical conflicts, and worsening supply chain disruptions. 

In line with earlier assessments, headline inflation is likely to have peaked in 3Q 2022 and is expected to moderate thereafter, albeit remaining elevated. Underlying inflation, as measured by core inflation, is projected to average closer to the upper end of the 2.0% – 3.0% forecast range in 2022, having averaged 2.7% year-to-date, given some demand-driven price pressures amid the high-cost environment.  

Moving into 2023, headline and core inflation are expected to remain elevated amid both demand and cost pressures, as well as any changes to domestic policy measures. The extent of upward pressures to inflation will remain partly contained by existing price controls, subsidies, and the remaining spare capacity in the economy. The balance of risk to the inflation outlook in 2023 is tilted to the upside and continues to be subject to domestic policy measures on subsidies, as well as global commodity price developments arising mainly from the ongoing military conflict in Ukraine and prolonged supply-related disruptions. 

Against the backdrop of continued positive growth prospects for the Malaysian economy, the MPC decided to further adjust the degree of monetary accommodation. The adjustment would also pre-emptively manage the risk of excessive demand on price pressures consistent with the recalibration of monetary policy settings that balances the risks to domestic inflation and sustainable growth. At the current OPR level, the stance of monetary policy remains accommodative and supportive of economic growth. The MPC is not on any pre-set course, which means that monetary policy decisions will continue to depend on evolving conditions and their implications on the overall outlook to domestic inflation and growth. Any adjustments to the monetary policy settings going forward would continue to be done in a measured and gradual manner, ensuring that monetary policy remains accommodative to support sustainable economic growth in an environment of price stability. 

The MPC also noted that the global economy continues to be weighed down by rising cost pressures, tighter global financial conditions, and strict containment measures in China. These factors more than offset the support from positive labour market conditions, and the full reopening of most economies and international borders. Inflationary pressures were more persistent than expected due to strong demand, tight labour markets, and elevated commodity prices, despite improvements in global supply chain conditions.  

Consequently, many central banks are expected to continue raising interest rates to manage inflationary pressures. In particular, continued aggressive adjustments in US interest rates and expectations of a higher terminal rate in the US, have contributed to a persistently strong US dollar environment. This has resulted in higher volatility in financial markets, affecting other major and emerging market currencies, including the ringgit. Going forward, the global growth outlook will continue to face headwinds from tighter financial conditions amid elevated inflation in major economies and the domestic challenges in China. The growth outlook remains subject to downside risks, including escalation of geopolitical tensions, worsening of domestic headwinds in China and potential energy rationing in Europe. 

The meeting also approved the schedule of MPC meetings for 2023. In accordance with the Central Bank of Malaysia Act 2009, the MPC will convene six times during the year. The Monetary Policy Statement will be released at 3 p.m. on the final day of each MPC meeting. 

Malaysian economy holding up but headwinds persist: Tan Sri Azman Hashim 

Chief executives, industry experts and business leaders discussed major trends impacting the Malaysian economy as well as issues of common concern such as inflation and labour shortages at the 2022 Perdana Leadership Foundation CEO forum. 

According to Perdana Leadership Foundation board of trustee chairman Tan Sri Azman Hashim, Malaysia’s economic fundamentals have held up throughout the Covid-19 pandemic thanks to central bank oversight, public sector assistance and efforts of the private sector, but headwinds from external and internal sources continue to plague the country. It is thus timely to have this forum where business leaders and industry experts are gathered to discuss economic trends, and the environment, as well as identify sectors that are growing in importance such as technology and logistics. The business community plays a huge role in strengthening, fortifying, and reviving the Malaysian economy, and this forum is a platform to surface the concerns of business leaders to policymakers. 

The Russia-Ukraine war is ongoing with no end in sight, so the food and fuel shortages experienced in Europe will continue for the foreseeable time. This means inflation – which is already at unprecedented levels in many countries – will not abate, and the cost-of-living crisis will continue for many people around the world. China is still pursuing its zero-Covid policy and parts of the country may be subjected to lockdowns. For many companies, including Malaysian ones, this signals potential manufacturing and supply disruptions. 

Malaysia is also dealing with the effects of climate change, with floods, typhoons, hurricanes and droughts becoming more unpredictable and severe globally. It is not surprising that the World Bank and the International Monetary Fund are forecasting weak global economic growth of less than 3% in 2023, with the ominous note that the worst is yet to come, and for many people it will feel like a recession. While Malaysia’s growth is forecast to be better than the world average, at 4.5%, it will be lower than in pre-pandemic years, mostly due to lower demand for our exports. 

Bursa Malaysia announces RM177.6 million profit after tax and zakat for the nine months ended 30 September 2022 

Bursa Malaysia Berhad recorded a Profit After Tax and Zakat of RM177.6 million for the nine-month financial period ended 30 September 2022, a 38.8% decrease from RM290.3 million reported in the previous corresponding period ended 30 September 2021. The decrease in PAT is due to lower operating revenue by 24.6% to RM445.2 million from RM590.0 million in 9M2021, primarily caused by a decline in securities trading revenue. Meanwhile, total operating expenses saw a 0.7% marginal increase to RM214.7 million in 9M2022, compared to RM213.2 million in 9M2021. 

According to Chief Executive Officer of Bursa Malaysia Datuk Muhamad Umar Swift, global volatility and the higher interest rate environment continue to challenge our securities market business but improvements in the performance of the derivatives market as well as market data businesses have helped contribute to our profit numbers during this financial period. The Exchange will continue to ensure that it innovates and remains agile to generate increased volumes thus contributing to higher revenue streams in all segments of the business in this investment climate.  

For the period under review, the Securities Market registered a trading revenue of RM203.0 million, a decrease by 43.6% compared to RM359.9 million in 9M2021. This is due to lower Average Daily Trading Value for Securities Market’s On-Market Trades and Direct Business Trades in 9M2022 of RM2.2 billion against RM4.0 billion in 9M2021. Trading velocity in 9M2022 was lower by 24 percentage points to 30% compared to 54% in 9M2021. On new listings, funds raised through Initial Public Offerings in 9M2022 totalled RM2.8 billion, higher than the RM2.3 billion raised in 9M2021. 

Total derivatives trading revenue increased by 11.5% to RM73.4 million in 9M2022 from RM65.8 million in 9M2021, contributed by higher collateral management income as well as higher number of Crude Palm Oil Futures and FTSE Bursa Malaysia KLCI Futures. Average Daily Contacts in 9M2022 rose 2.2% with 78,540 contracts, compared to 76,836 contracts in 9M2021. 

As for the Islamic Markets, higher trading activity in Bursa Suq Al-Sila’ resulted in an increase of trading revenue by 17.3% to RM11.8 million in 9M2022, from RM10.1 million in 9M2021. Meanwhile, the market data business closed 9M2022 with a total revenue of RM45.8 million, a 15.9% increase compared to RM39.5 million in 9M2021, driven by higher number of subscribers. 

Based on Bank Negara Malaysia’s report that the Malaysian economy grew by 8.9% in 2Q2022, factors such as improving labour conditions, reopening of international borders, recovery in tourism-related sectors, and increase in investment activities will continue to support this growth trajectory. Trading volume is facing strong global headwinds, but the Exchange continues to actively engage with existing and potential market participants to highlight the market’s value and appeal. To enhance the attractiveness of existing listed companies, the Exchange has launched initiatives such as the Public Listed Companies Transformation Programme, the Bursa Research Incentive Scheme, Investor Relations & Public Relations Incentive Programme and the Bursa Digital Research. To entice domestic and foreign derivatives participants, other initiatives include further extension of the after-hours (T+1) derivatives night trading session.  

Ensuring a robust Islamic Capital Market remains one of the Exchange’s main agendas, which is in line with its Sustainable and Responsible Investment and Environmental Social Governance agenda. The Exchange continues to develop new Shariah-compliant products, such as the upcoming Shariah-compliant Voluntary Carbon Market and the Bursa Gold Dinar. The financial results for the period ending 9M2022 are available on Bursa Malaysia’s website at

Note From Publisher: In this issue of Inve$t, we are happy to introduce Good Life, a regular lifestyle section that will present to you opportunities to enjoy the good life. And by good life we mean products, services, places and people who give priority to the environment and sustainability. Also from this issue onwards we bring to you a regular column called Indulge in which we selectively showcase new products or services launched in the marketplace as a means for you to consider buying just to pamper yourself. Afterall, when you have generated profits from your investments, it’s a good time to treat yourself for your success. Enjoy. Oh and do share this issue of Inve$t with your loved ones.      

Eye On The Markets 

This week, on Friday (4Nov), the Ringgit opened at 4.7445 against the USD from 4.7285 on Monday (31Oct). Meanwhile, the Ringgit was 3.3378 to the Sing Dollar on Friday (4Nov). On Monday (31Oct), the FBM KLCI opened at 1450.94. As at Friday (4Nov) 10:00am, the FBM KLCI is down 24.22 points for the week at 1426.72. Over in US, the overnight Dow Jones Industrial Average closed down 46.51 points (-0.46%) to 32,001.25 whilst the NASDAQ shed 181.86 points (-1.73%) to 10,342.94.