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
2. Singapore's Economy Emerges From Its Worst Recession - Bloomberg
.
what u expect from a financial recession?? gain ar??
aiyo
loss money in recession is very normal de
lor
me also loss money once in a while
lor
MAS, being the cetral bank of the country n the duty is to stabilize the economy and the local dollar n why is it suffering losses?
Originally posted by will4:MAS, being the cetral bank of the country n the duty is to stabilize the economy and the local dollar n why is it suffering losses?
to uphold the local dollars mah, wha lau, you think you dun have to put funds to hold on the dollars value ar??
What did the MAS invest in? Could it be the same case like those town council which invested in the Leman Brothers investment product which went bust last year?
Originally posted by will4:What did the MAS invest in? Could it be the same case like those town council which invested in the Leman Brothers investment product which went bust last year?
Government's investments are through GIC and Temasek Holdings, not MAS.
MAS is the central bank of Singapore. Its role is to manage the financial, monetary, exchange rate aspects of Singapore's economy.
Originally posted by Yxxxone: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
-----------------------
Latest updates @ Singapore News Alternative:
1. Singapore central bank suffers S$9.2b loss
2. Singapore Air says June load factor at 67.6 pct
3. Singapore home sales hit new highs on silent buying frenzy
4. Singapore says no need for more stimulus measures
Latest videos added:
1. Singapore's Retail Crunch - Bloomberg
2. Singapore's Economy Emerges From Its Worst Recession - Bloomberg
.
Originally posted by angel7030:what u expect from a financial recession?? gain ar??
Duh. You dont know what is short sell?
MAS only goes into the forex market to sell S$ to prevent S$ to rise beyond the exchange rate band or MAS goes into the forex market to buy S$ to prevent S$ to fall below the exchange rate band.
MAS's role is to ensure a gradual change in the stability of S$ in view of the short-run and long-run conditions of the Singapore's economy.
MAS does not go into the forex market for speculation.
Originally posted by Singmarine:Shit lah…is the taxpayer money leh. Who to answer??
All the central banks in the world will lose money and make money from time to time when they intervene in their forex markets.
The objective of the intervention by the central bank is never about making money from the forex market or worry about losing money in the forex market.
Its role is to ensure that the external value of the country's currency is conducive for the country's economy through the intervention in the forex market.
contribution to the state we are in. Thank you, ruling party. You all can pack bags and get lost.
Free online economics course url link is
Originally posted by Lee012lee:MAS only goes into the forex market to sell S$ to prevent S$ to rise beyond the exchange rate band or MAS goes into the forex market to buy S$ to prevent S$ to fall below the exchange rate band.
MAS's role is to ensure a gradual change in the stability of S$ in view of the short-run and long-run conditions of the Singapore's economy.
MAS does not go into the forex market for speculation.
Obviously the "market" has lost confidence in the Singapore economy even as the MAS remain optimistically confident over the long term and will do anything to support the Singapore Dollar to maintain stability.
This will be a daily exercise that need substantial Reserves to beat back the market speculators, who are bent on taking positions that will shake the S$.
With the value of the S$ being weighted against a basket of several currencies, which are from our major trading partners, it will be quite remarkable for the MAS to come up with such a loss in one year.
The loss is more astonishing when the value of the S$ is supposed to have been kept stable over the years - with movements within a controlled band - and the market also aware of the determination of the Singapore Government to defend the S$, which makes it a formidable currency to speculate with (as was the case with the Thai Baht during the 1997 currency meltdown in South-east Asia).
The air remains fishily salty.
Everything is paper, even your cash in your wallet is also paper until realisation, that is when you use it, and bear in mind, this paper can be devalue or upvalue.
When MAS is making tons of billions, why nobody make noises, and when because of a global financial meltdown, people start to make hell lot of noises.
As long as MAS is doing it duty to maintain our sing dollars and to see that all financial sectors are following laws and orders of this country consitution, i dunno why you all care so much, even if it pump money in to uphold the sing dollars result in lost, the money in your bank and pocket remain intact, you got nothing to loose.
Just sit back and enjoy the coming NDP.
and above all, MAS is being transparent to declare their losses. Dun declare you all also KPKB, declare also KPKB. So what exactly you peoples want???
Eat nasi lemak bought from Changi point
temasek, gic and now mas losses, scary. very huge amounts we are talking about here.
Originally posted by Acidshuriken:temasek, gic and now mas losses, scary. very huge amounts we are talking about here.
what so scary?? you lost your money ar?? Beside China and India, which country dun lost, and especially those that are doing so well for the past few years will see a bigger lost, that is natural, you bet more, you loose more, but our lost is although sad, we are losing on our profits gain previously, so be cool, dun scare. bo ji or what?
Originally posted by angel7030:and above all, MAS is being transparent to declare their losses. Dun declare you all also KPKB, declare also KPKB. So what exactly you peoples want???
Eat nasi lemak bought from Changi point
Told u that if you don't like what you read here you can go PAP website. Over there I am sure you will be happy. There the place your can give your best shot to bootlicking.
So now get lost and go to PAP website.
Originally posted by Fantagf:
Told u that if you don't like what you read here you can go PAP website. Over there I am sure you will be happy. There the place your can give your best shot to bootlicking.So now get lost and go to PAP website.
who said i dun like, i like is here, so warmth and cosy, can kill uncles and auntie backside...in here, i can learn more, rather than praising PAP with all the same gang, you learn nothing.
In here, i can be the devil advocate and bring out the frustration in most uncles and aunty like you. I am sorry to make you angry, but frankly, i learned alot about opposition supporter thinking, with this, i gather all the finding and make a report to PAP, then we will draft out an Action Plan. We used the SMART strategy ya.
Originally posted by angel7030:
who said i dun like, i like is here, so warmth and cosy, can kill uncles and auntie backside...in here, i can learn more, rather than praising PAP with all the same gang, you learn nothing.
In here, i can be the devil advocate and bring out the frustration in most uncles and aunty like you. I am sorry to make you angry, but frankly, i learned alot about opposition supporter thinking, with this, i gather all the finding and make a report to PAP, then we will draft out an Action Plan. We used the SMART strategy ya.
shut your bloody gap. go lost and go bootlicking in PAP website. Who do you think you are, you dirty mamasan, papasan! You can kill uncles and auntie backside here??? Think again of what you said, it will be returned to you with no end.
REtribution is real, i tell you.
Originally posted by Fantagf:
shut your bloody gap. go lost and go bootlicking in PAP website. Who do you think you are, you dirty mamasan, papasan! You can kill uncles and auntie backside here??? Think again of what you said, it will be returned to you with no end.REtribution is real, i tell you.
ya lah ya lah, i wait here for the retribution, if opposition wins, i hang myself lah, fair or not?? wha lau, really make aunty ver very angry liao...better run///....hmmm,...go eat laksa again