Singapore Exchange reports 45.5 per cent drop in profits

Singapore Exchange reports 45.5 per cent drop in profits Singapore - Singapore Exchange Limited (SGX) Wednesday said its net profit for the third quarter of this year fell by 45.5 per cent year-on-year to 55.3 million Singapore dollars (36 million US dollars).

The net profit was also down by 25.9 per cent from the second quarter of the financial year 2009.

Operating revenues decreased 30.9 per cent to 119.8 million Singapore dollars for the third quarter ended 31 March 2009 from 173.3 million Singapore dollars for the same period of last year.

"The quarter has been challenging with all revenue categories affected," SGX chief executive officer Hsieh Fu Hua said.

"Nonetheless, there are opportunities that SGX can take advantage of in derivatives, commodities and OTC clearing."

As regulator, SGX would continue to work closely with market professionals and listed companies to uphold governance standards, he assured. (dpa)

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