http://www.themalaysianinsider.com/index.php/business/32460-singapore-central-bank-suffers-s92b-loss
The Malaysian Insider, 16 Jul 2009
Singapore central bank suffers S$9.2b loss
SINGAPORE, July 16 — Singapore's central bank said today it posted a net loss of S$9.2 billion (RM22 billion) in its last financial year that ended March 2009, badly hurt by a decline in global markets.
The loss compared to a profit of S$7.44 billion in the same period a year earlier, the Monetary Authority of Singapore's managing director Heng Swee Keat said at a press conference.
"The unprecedented global financial crisis has weighed heavily on financial markets worldwide, leading to severe declines in valuation across many asset classes amidst heightened market volatility," he said.
"MAS's investment was negatively affected by this crisis."
The loss in the last financial year equalled about 3.5 per cent of the central bank's average assets, he said.
"With the broad based upturn in financial markets after the close of the financial year, the valuation of MAS' foreign assets has improved and more than half of the losses have been recovered," he said. — Reuters
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Latest updates @ Singapore News Alternative:
1. Singapore central bank suffers S$9.2b loss
2. Singapore Air says June load factor at 67.6 pct
3. Singapore home sales hit new highs on silent buying frenzy
4. Singapore says no need for more stimulus measures
Latest videos added:
1. Singapore's Retail Crunch - Bloomberg
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The Malaysian Insider, 16 Jul 2009
Singapore central bank suffers S$9.2b loss
SINGAPORE, July 16 — Singapore's central bank said today it posted a net loss of S$9.2 billion (RM22 billion) in its last financial year that ended March 2009, badly hurt by a decline in global markets.
The loss compared to a profit of S$7.44 billion in the same period a year earlier, the Monetary Authority of Singapore's managing director Heng Swee Keat said at a press conference.
"The unprecedented global financial crisis has weighed heavily on financial markets worldwide, leading to severe declines in valuation across many asset classes amidst heightened market volatility," he said.
"MAS's investment was negatively affected by this crisis."
The loss in the last financial year equalled about 3.5 per cent of the central bank's average assets, he said.
"With the broad based upturn in financial markets after the close of the financial year, the valuation of MAS' foreign assets has improved and more than half of the losses have been recovered," he said. — Reuters
-----------------------
Latest updates @ Singapore News Alternative:
1. Singapore central bank suffers S$9.2b loss
2. Singapore Air says June load factor at 67.6 pct
3. Singapore home sales hit new highs on silent buying frenzy
4. Singapore says no need for more stimulus measures
Latest videos added:
1. Singapore's Retail Crunch - Bloomberg
2. Singapore's Economy Emerges From Its Worst Recession - Bloomberg
.
Instead of reigning in all their risky activites & helping poor citizens they still more interested in speculating with state funds.
