News
Article entitled: "Bursa M'sia to 'waive' fee for real-time price feed"
BackMay 06, 2005
| General Announcement Reference No BM-050506-69096 |
| Company Name | : | BURSA MALAYSIA BERHAD |
| Stock Name | : | BURSA |
| Date Announced | : | 06/05/2005 |
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| Type | : | Announcement |
| Subject | : | Article entitled: "Bursa M'sia to 'waive' fee for real-time price feed" |
Contents :
We refer to the news article appearing on page 1 of The Edge Financial Daily on 6 May 2005.
The article amongst others stated the following:-
"Bursa Malaysia has decided to "waive indefinitely a RM10 monthly charge it plans to impose for real-time Internet access for its stock price feed."
"?.. Bursa Malaysia may not meet its profit forecasts."
"They had targeted to net over RM20 million annually from the RM10 charge. ....."
We wish to clarify the above statements as follows:-
Bursa Malaysia Berhad (Bursa Malaysia) had in October 2004 introduced its distribution and pricing model for its information services. This includes the proposed charge of a monthly fee of RM10 per subscriber for real-time internet access to its price information.
In the light of the views and feedback received from the industry participants and the current market conditions, the Board of Directors of Bursa Malaysia has decided that Bursa Malaysia shall continue to provide real-time internet access to its price information to subscribers for free until further notice.
The statement that "Bursa Malaysia had targeted to net over RM20 million annually from the RM10 charge" is incorrect. The revenue estimate from this charge is minimal.
As such, the above decision will not have a material impact on Bursa Malaysia's financial results and will not affect Bursa Malaysia's ability to meet its profit forecast for the financial year ending 31 December 2005 as disclosed in the prospectus dated 23 February 2005.