MAS Suffers S$9.2 Billion Loss

[SNAblog]

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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[Char_Azn]

Wow, that means MAS is still worth about 203.27 billion

9.2 billion = 3%
100% = 212.57 - 9.2 = $203.27 billion

PAP seem to have a lot of money to lose

 

[halsey02]

Wow, that means MAS is still worth about 203.27 billion

9.2 billion = 3%
100% = 212.57 - 9.2 = $203.27 billion

PAP seem to have a lot of money to lose

I thought they have a world class mathematician, a world class tartman from the financial sector?

It is a HONEST MISTAKE...it was events beyond their control....but when they make money..it is us, US & US who are smart!..US!:(

 

[Char_Azn]

I don't think they are dumb enough to lie about losing money at this time. Any idiot would know that they are lying if they don't lose money. I think the qn should be, is that the true figure

 

[tua lam pah]

chee bye la...lose 10 billion in the markets is no big deal, its the nature of markets to go left or right......

the big deal is....if made 10 billion, the profit s goes to who???

 

[potato29]

the big deal is....if made 10 billion, the profit s goes to who???

profit is PAP one, that's y now got "elected" president.

 

[commoner]

lose so much money,,, so Lim Ke Kiang says no further stimulated packages needed,,, because bo $$ liao,,,, CB,,,,,,

no wonder MAAss no time and dun wan to help people invest in Lemon Bros and DBAss HiNotes, because they themselves are buried under so much shit

LHL after become PM, jinxed by WHore jialat jialat

 

[JohnTT]

Singapore got a big & reliable bank. Its people.

Singaporeans = banks

 

[Char_Azn]

lol. Good one.

 

[Papsmearer]

The oppos should ask how can a central bank lose $9.2 billion?

Answer: They are playing with our money. The traders at MAS are trying to make money in the money market, just like a regular investment house. They trade options, buy puts and calls, not to mitigate the Sing dollar but to use their huge leverage to make money for MOF. Exceot in this case, massive losses. The oppos should come put and ask for a breakdown of the losses.

 

[potato29]

The oppos should ask how can a central bank lose $9.2 billion?

Answer: They are playing with our money. The traders at MAS are trying to make money in the money market, just like a regular investment house. They trade options, buy puts and calls, not to mitigate the Sing dollar but to use their huge leverage to make money for MOF. Exceot in this case, massive losses. The oppos should come put and ask for a breakdown of the losses.

oppos can ask, u tink they get answer?

 

[halsey02]

oppos can ask, u tink they get answer?

Oppo ask about HDB 'books'..what was the answer?, ask about GIC etc.., what was the answer?

To find out why the Monetary Authority of Singapore looses S$9.2 billion, it will take 100 man years to provide the answers.

 

[Leegimeremover]

Good job! More than 20 percent of 2009 budget equivalent lost!

 

[Cestbon]

chee bye la...lose 10 billion in the markets is no big deal, its the nature of markets to go left or right......

the big deal is....if made 10 billion, the profit s goes to who???

Ever heard of Win is Mine Lose is Your

 

[makapaaa]

Wow, that means MAS is still worth about 203.27 billion

9.2 billion = 3%
100% = 212.57 - 9.2 = $203.27 billion

PAP seem to have a lot of money to lose

But not a single cent to help the citizens?

 

[KuanTi01]

When they make huge gains, they trumpet their achievements so loudly until the whole world and the ISS knows about it. When they incur huge losses, it's always manageable and under control. No cause for alarm, it seems!

During good times, they enjoy huge salaries and bonuses, deservedly so. During bad times, one wonders! Is there any one to take responsibility just as they take the credit? In the private sector, heads will surely roll.

 

[potato29]

Good job! More than 20 percent of 2009 budget equivalent lost!

wonder they will cut their pay by 20%.

 

[johnny333]

Nowadays we see loss after loss by the PAP gov't & these are very big losses Instead of reigning in all their risky activites & helping poor citizens they still more interested in speculating with state funds.

LKY & the PAP have alot to answer for, & for the sake of the next generation I
hope enough of the the 66% will wake up & start demanding accountability.

 

[Frankiestine]

Too bad Chee Soon Juan went on his mad rampage a few years too early...if only he had timed it for now and ask little pinky "Where is our money!!!!"...he won't have been sued till his pants dropped..

 

[scoobyhoo]

hey, look at some others, they lost more.