Singapore Exchange posts higher earnings

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SINGAPORE Exchange posted a rise in annual profit on Thursday and raised its dividend, buoyed by higher revenue from its currencies and commodities businesses amid growing transactions in foreign exchange futures.

Higher currency and commodity derivatives volumes helped counter a decline in market turnover in the equity unit, as uncertainty in the global interest rate outlook and a slowing Chinese economy weighed on market sentiment.'Our currencies and commodities franchises are on a healthy growth momentum, with volumes doubling over the last three years,' said Group Chief Executive Officer Loh Boon Chye.

The review group would suggest measures to attract primary and secondary listings to Singapore and improve liquidity.'We will work closely with the review group set up by the Monetary Authority of Singapore to recommend measures to strengthen equities market development in Singapore,' Chye said.The bourse operator posted annual adjusted net profit of SG$525.9 million , a 4.5-percent rise over the year earlier.

 

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