Monetary Authority of Singapore records S$0.2 billion profit in FY16

Monetary Authority of Singapore records S$0.2 billion profit in FY16

The Monetary Authority of Singapore (MAS) recorded a profit of S$0.2 billion ($146.92 million) in the 2015-16 financial year, down slightly from a profit of S$0.3 billion the year before, MAS Managing Director Ravi Menon said on Monday.

Excluding the impact from currency translation effects, foreign investment gains amounted to S$5.2 billion in the 2015-16 financial year, down from S$10.4 billion the year before, Menon added at a news conference.

The lower foreign investment gains reflected the decline in global equity markets in the 2015-16 financial year, he said.