MAS net profit falls 45% on lower investment returns

SINGAPORE: The Monetary Authority of Singapore said on Thursday that net profit in its last financial year fell 44.8 per cent, after investment income took a hit from sharp declines in the global markets., according to its annual report for the 2019/20 financial year.The figure, which is after a S$2.2 billion contribution to the Government’s consolidated fund, arose mainly from positive currency translation effects.

Foreign exchange gains made up the rest of the returns at S$14.2 billion, primarily due to a weaker Singapore dollar against the US dollar, euro and the Japanese yen. This compares with the S$1 billion reported last year when the Sing dollar appreciated against most of the major currencies.

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