Minister for Finance Visit
The new Board of Directors had their first board meeting at the Malta Stock Exchange, during which they were given an overview of the significant achievements that have marked the last 2 years of Exchange operations. During the last financial year, the Exchange registered a record turnover value of €940 million, up by 21% on the previous year, and closed the year at a market capitalisation value of €10.3 billion – a very significant figure when taking into consideration the size of our economy. There were 14 corporate bond issues with a total value of almost €300 million, as well as various issues of government paper – all significantly oversubscribed. The Exchange registered a pre-tax profit of €2.34 million, which was a significant 16% increase on the previous year’s profit and which is even more significant when seen in the context of the challenging economic circumstances that prevailed.
The Honorable Minister of Finance, Professor Edward Scicluna, took the opportunity to welcome the new Board and to address the staff, outlining his vision of the state of the economy and the critical role that the Exchange plays in the capital market.
Today, the Exchange also launched its refreshed website and its first foray into the social media environment, with a new LinkedIn and Facebook page. The new website has a greatly improved level of functionality, as well as very user-friendly access to market as well as individual company data and video content. The social media pages will complement the website and be used to inform interested parties about what is new at the Exchange, in the capital market environment, as well as to educate the general public about financial services. Persons interested in connecting to the MSE can log onto their Facebook page and LinkedIn pages for more information.
The current financial year is looking very interesting, with trade volumes up on previous year, and a record market capitalisation. New listing of financial instruments has been slower than expected in the first half of this year, but it is expected that the second half of the year should adequately compensate for this. In a few words, Mr Joseph Portelli, Chairman of Malta Stock Exchange recognised the high levels of professionalism, talent and dedication that the leaders and staff of the Exchange clearly have, and augured that together, they would be able to leverage the exceptional talent found at the MSE and on the Board to position the Exchange as the cornerstone of Malta's ever growing financial industry.
Issued by: Malta Stock Exchange plc
Contact: Cliff Pace