SINGAPORE, April 20 Singapore Exchange Ltd
posted a 7 percent drop in January-March net profit
while revenue slipped 2 percent, dragged by a weak performance
in its derivatives business.
"In the past quarter, we saw continued momentum in the
equities market following the U.S. Presidential Election, with
increased participation seen from both retail and institutional
customers," Chief Executive Loh Boon Chye said in a statement on
Loh said that although sentiment had improved, positive
outcomes on U.S. economic policies will be important to sustain
SGX, a global centre for business trusts and real estate
investment trusts, reported a net profit of S$83.1 million
($59.5 million) versus S$89.2 million a year ago. Operating
revenue fell to S$202.7 million. Derivatives revenue declined 9
percent to S$75.2 million.
The exchange has kicked off a public consultation as it
decides whether to introduce dual-class share structures, a move
that is expected to help it broaden its appeal to tech and other
new economy companies.
($1 = 1.3961 Singapore dollars)
(Reporting by Anshuman Daga; Editing by Gopakumar Warrier)