KUALA LUMPUR (March 20): The Securities Commission Malaysia (SC) recorded an operating surplus of RM20.7 million in 2024, rebounding from its largest net operating deficit in over a decade in 2023, thanks to stronger market activity during the year.

The self-funded statutory body posted a 43.1% increase in total revenue, reaching RM300.39 million in 2024, compared with RM209.91 million in 2023. This growth contrasts with the 7.1% decline in 2023 from RM226.16 million in 2022, as highlighted in the Annual Report 2024 released on Thursday.

Levies remained the primary revenue contributor, surging 45.2% to RM209.52 million from RM144.34 million in 2023, after a marginal 4.5% increase in 2022. Income from fees and charges climbed 65.7% to RM27.47 million from RM16.58 million in 2023, reversing a 16.3% decline the previous year.

Other income — comprising penalties, cost recoveries from investigations, residual sums, and net fair value gains on financial assets — more than tripled to RM19.71 million in 2024 from RM5.89 million in 2023. This followed a nearly 84% drop from RM36.43 million in 2022.

After accounting for taxes, the SC’s net operating surplus stood at RM14 million, recovering from deficits of RM71.3 million in 2023 and RM25.3 million in 2022.

Loss from the remeasurement of defined benefit liability — an adjustment of the value of the organisation's long-term obligations — narrowed to RM16.11 million in 2024 from a loss of RM36.57 million in 2023. In the year prior, it reported a gain of RM6.97 million.

SC managed to narrow losses significantly in 2024, reporting a total comprehensive net loss of RM2.11 million for the financial year ended Dec 31, 2024, compared with a net loss of RM107.86 million in 2023. In the year prior, net loss stood at RM18.34 million. 

The total value of civil penalties imposed by the courts more than doubled to RM9.87 million in 2024 from RM4.81 million in 2023, the result of three actions involving four defendants. In 2023, civil penalties imposed dropped 85.7% from a high of RM33.74 million in 2022.

Disgorgements totalled RM12.04 million, down 12.9% from RM13.83 million in 2023, after having surged 301% from RM4.58 million in 2022. Meanwhile, restitution amounted to RM1.86 million in 2024, a marked increase from RM301,208 in 2023. In 2022, restitution stood at RM1.53 million.

The SC’s total expenditure continued to increase in 2024, going up 5% to RM279.7 million in 2024 from RM266.36 million in 2023. Expenses were up 12% in 2023 from RM237.81 million in 2022.

Staff costs — historically the commission’s largest expense — edged up 0.2% to RM210.06 million in 2024, following a nearly 10% rise to RM209.65 million in 2023 from RM191.23 million in 2022.

Administrative expenses rose by 27.1% to RM53.23 million in 2024 from RM41.88 million in 2023, which had increased 21.9% from RM34.36 million in 2022.

For more SC 2024 Annual Report stories, click here.