Chief Executive Officer's Message

3. Operating Expenses

With the market driving revenue numbers down, we were even more vigilant in controlling our operating expenses. The increase in expenses came mainly from higher depreciation and amortisation charges following the upgrading of our IT infrastructure and renovations carried out in 2008 and 2007. Continued business development activities were reflected in higher professional fees, while other costs were generally kept under control. Overall, operating expenses rose 8% to RM185.4 million.

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4. Capital Expenditure

Despite the challenging economic climate, our focus remained on maintaining Bursa Malaysia's competitiveness. Thus, while we conducted a rigorous prioritising exercise during the year, we were firm in proceeding with capital expenditure which will bring greater efficiency and accessibility to our market. To improve our infrastructure for the Malaysian capital market, we implemented BTS in December 2008. Total capital expenditure during the year declined 15% to RM34.0 million. In addition, we have committed another RM34.0 million for various ongoing initiatives.

5. Rewarding Shareholders

At Bursa Malaysia, we are unswerving in delivering value to our shareholders. Despite the many challenges faced during the year, we are aiming once again to return 90% of our profits to shareholders. We have paid out an interim net dividend of 12.2 sen per share, and we are proposing a further dividend for 2008, bringing the total payout to 18.1 sen per share.