Singapore markets open in 4 hours 26 minutes
  • Straits Times Index

    3,130.24
    +15.16 (+0.49%)
     
  • S&P 500

    3,585.62
    -54.85 (-1.51%)
     
  • Dow

    28,725.51
    -500.09 (-1.71%)
     
  • Nasdaq

    10,575.62
    -161.88 (-1.51%)
     
  • BTC-USD

    19,253.14
    +2.75 (+0.01%)
     
  • CMC Crypto 200

    443.49
    +0.06 (+0.01%)
     
  • FTSE 100

    6,893.81
    +12.22 (+0.18%)
     
  • Gold

    1,668.30
    -3.70 (-0.22%)
     
  • Crude Oil

    79.74
    +0.25 (+0.31%)
     
  • 10-Yr Bond

    3.8040
    +0.0570 (+1.52%)
     
  • Nikkei

    25,937.21
    -484.89 (-1.84%)
     
  • Hang Seng

    17,222.83
    +56.93 (+0.33%)
     
  • FTSE Bursa Malaysia

    1,394.63
    -2.87 (-0.21%)
     
  • Jakarta Composite Index

    7,040.80
    +4.60 (+0.07%)
     
  • PSE Index

    5,741.07
    -193.18 (-3.26%)
     

SGX posts record revenue, profit inches up on derivatives boost

·2-min read
Outbreak of the coronavirus disease (COVID-19) in Singapore
Outbreak of the coronavirus disease (COVID-19) in Singapore

(Adds details on results)

Aug 18 (Reuters) - Singapore Exchange Ltd said on Thursday it posted a marginally higher adjusted profit and record revenues, helped by the bourse operator's push towards its derivatives product offerings amid a weak securities market.

Higher derivatives volumes for equities, currencies and commodities helped offset a weaker showing from cash equities and treasuries.

SGX's revenue from fixed income, currencies and commodities (FICC) increased 19% to S$252.7 million ($182.92 million), and contributed to nearly 23% of total revenues. It said total revenue increased 4% to a record S$1.10 billion.

"Our FICC business remains a key growth engine and is expected to deliver mid-teens percentage revenue growth in the medium term," said Chief Executive Loh Boon Chye.

The company's adjusted net profit attributable for the 12 months ended June 30 rose to S$456 million, from S$447 million last year.

SGX, which benefits heavily from its favorable location as a gateway for regional trades, said that with increasing risks in the global economy, portfolio risk management activity is expected to rise in tandem.

SGX Group maintains its medium-term revenue growth expectation of a high single-digit percentage range, it said.

The company's capital expenditure for fiscal 2023 is expected to rise to between S$70 million and S$75 million, and is likely to remain at similar levels in the medium term.

It also proposed a final quarterly dividend of 8.0 Singapore cents per share, in-line with a year ago.

In a separate announcement, SGX said Koh Boon Hwee will replace Kwa Chong Seng as the board's chairman.

($1 = 1.3814 Singapore dollars) (Reporting by Harish Sridharan and Indranil Sarkar in Bengaluru; Editing by Shailesh Kuber)