SINGAPORE — The Monetary Authority of Singapore recorded a net profit of S$3.8 billion in the financial year that ended on March 31, a reversal from the record S$30.8 billion loss reported the year before.MAS made investment gains of S$12.7 billion, more than 20 times the S$0.6 billion in the previous year.SINGAPORE — The Monetary Authority of Singapore recorded a net profit of S$3.8 billion in the financial year that ended on March 31, a reversal from the record S$30.
Total expenditure was S$21.4 billion, due largely to interest expenses on MAS bills and other borrowings for domestic money market operations. This is up from S$13.7 billion a year ago. Despite the overall profit, there was no contribution to the Government's consolidated fund or return of profits to the Government for the financial year.Against the backdrop of relatively supportive global growth and disinflation, Mr Chia said growth momentum locally is expected to strengthen, with major sectors returning to pre-pandemic norms.
With regard to the global economy, Mr Chia said growth has been resilient in the past year and is expected to remain broadly steady. Grants will be given to support the setup of quantum computing and security innovations in Singapore, the adoption of such solutions and to improve cyber security readiness.