21 Jul '11, 4am

MAS records net loss of S$10.9b for year ended March 2011

MAS records net loss of S$10.9b for year ended March 2011

SINGAPORE: The Monetary Authority of Singapore (MAS) has recorded its biggest loss in 40 years on the back of a strong Singapore dollar. MAS has recorded a net loss of S$10.9 billion for its fiscal year ended March 2011. This compared to a record net profit of S$10 billion posted last year. The central bank said excluding exchange rate effects, it achieved income and net capital gains totalling S$12.3 billion during the financial year ended March 2011. MAS disclosed these figures in its latest annual report released Thursday. The loss comes as the foreign exchange impact from the stronger Singapore dollar exceeded the interest, dividend and valuation gains on foreign assets held. Most of MAS's assets comprise official foreign reserves. These are invested in a diversified range of foreign currency assets. During the year, the Singapore dollar appreciated against most curren...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

Tweets

MAS raises inflation forecast by 1 percentage p...

straitstimes.com 21 Jul '11, 5am

The Monetary Authority of Singapore has raised the inflation forecast by one percentage point to 4 to 5 per cent due to un...

Abundance, Not Deprivation: Weight Loss in 4 Steps

life.gaiam.com 23 Jul '11, 3pm

Discover the math of a healthier plate and the "free" foods you can eat without worrying about counting calories. Mayo Cli...

Extreme North Pole heat contributing to rapid s...

e360.yale.edu 20 Jul '11, 3pm

20 Jul 2011: Extreme North Pole Heat Contributing to Rapid Loss of Sea Ice North Pole temperatures that have been 11 to 14...