PETALING JAYA: Bursa Malaysia Bhd posted RM86.3 million profit before tax (PBT) for the third quarter ended Sept 30, 2025 (Q3’25), driven by a 13.1% rise in securities market average daily volume (ADV) for on-market trades to RM2.6 billion, from RM2.3 billion in the second quarter ended June 30, 2025 (Q2’25).
Overall, Bursa Malaysia registered profit after tax, zakat and minority interest (Patami) of RM189.3 million for the nine months ended Sept 30, 2025 (9M’25), a decline of 21.5% from RM241.2 million in the nine months ended Sept 30, 2024 (9M24). The lower Patami was primarily attributed to a 10.4% decrease in operating revenue to RM518.1 million in 9M’25, from RM578.5 million in 9M’24.
The moderation in Bursa Malaysia’s financial performance in 9M’25 was mainly due to a 25% decline in the securities market’s trading revenue, which decreased to RM225.2 million from RM300.3 million in 9M’24. This was attributable to a 25.6% drop in ADV for on-market trades to RM2.5 billion, from RM3.4 billion during the period under review.
Total operating expenses rose by 3.5% to RM282.8 million in 9M’25, compared to RM273.4 million in 9M’24. The increase was primarily driven by higher IT maintenance costs and other operating expenses, which was partially offset by lower staff costs.
“Global developments impacting market sentiment led to a decline in ADV in 9M2025; however, we are beginning to see improvement as greater clarity emerged from the United States tariff negotiations, with securities market trading revenue rising 13.3% quarter-on-quarter. Profit before tax grew quarter-on-quarter by 13.5%, rising to RM86.3 million in 3Q2025, compared to RM76 million in 2Q2025. In 9M2025, our derivatives and BSAS (Bursa Suq Al-Sila commodity trading platform) trading, as well as other trading and non-trading revenue sources, continued to see growth, providing resilience and demonstrating the value of the exchange’s strategy of broadening offerings across multiple asset classes,” said Bursa Malaysia CEO Datuk Fad’l Mohamed.
“Looking ahead, our efforts are underpinned by Malaysia’s robust economic fundamentals and capital market ecosystem, alongside accommodative monetary policy and clear government policies aimed at strengthening priority sectors,” he added.
Bursa Malaysia continues to play a vital role in supporting the growth of Malaysian companies through its fundraising platform. In 9M’25, the exchange welcomed 41 listings, collectively raising RM4.4 billion and adding RM22.3 billion to overall market capitalisation.
In addition, the exchange continues efforts to attract companies listed on other bourses to pursue secondary listings on Bursa Malaysia, to broaden their investor base and enhance trading liquidity.
On Aug 1, Bursa Malaysia achieved a significant milestone by welcoming UMS Integration Ltd to the Main Market, marking the first Singapore Exchange-listed company to have a secondary listing on Bursa Malaysia.
As for the derivatives market, its trading revenue increased by 2.8% to RM83.1 million in 9M’25, from RM80.9 million in 9M’24, mainly due to higher volumes of crude palm oil futures contracts traded. The increase was primarily attributable to the delayed implementation of Indonesia’s B40 biodiesel policy and lower crude palm oil production
in Malaysia, which spurred hedging activity among commercial participants.
On the Islamic market front, operating revenue recorded a 30% increase to RM16.9 million in 9M’25, from RM13 million in 9M’24, primarily driven by higher Bursa Suq Al-Sila’ (a commodity trading platform) revenue of RM15 million in 9M’25, from RM12.3 million in 9M’24. Additionally, trading revenue from Bursa Gold Dinar more than doubled to RM1.9 million in 9M’25, from RM0.7 million in 9M’24, mainly from higher volume of gold transactions.
In view of the shifting global developments and its influence on market sentiment – particularly on the equity market during the first half of 2025 – Bursa Malaysia has made revisions to its headline Key Performance Indicators (KPI) for 2025, specifically PBT and total initial public offering (IPO) market capitalisation.
The KPI for PBT is now set between RM314 million and RM347 million, compared to the previous range of RM369 million to RM408 million. The KPI for total IPO market capitalisation has been revised to RM25.2 billion, from RM40.2 billion previously.
All other headline KPI remain unchanged. Notably, the exchange has maintained its lead in the Asean region in terms of number of IPOs.
