SGX's Q4 profit falls 12% on weak securities markets
THERE was no element of surprise when Singapore Exchange announced yesterday that net profit for the final quarter slipped again, for the third straight quarter.
Net earnings for the fourth quarter ended June 30 slipped 12 per cent to S$77.42 million while revenue fell 15 per cent to S$172.6 million.
The poorer performance capped a financial year marked by crimped securities market activity amid record low volatility, curbed speculator appetite after last year's penny stock crash and investors exiting Asia into developed markets.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Olam tops Louis Dreyfus’ offer for Australia’s Namoi Cotton as takeover battle heats up
Axiata, Sinar Mas seek permission for Indonesia telco merger, minister says
New York Times beats profit estimates on bundle strength
US dollar gains ground; subdued yen prompts Japan warning
Prime US Reit distributable income for Q1 2024 down 19.5% to US$11.9 million
DBS hires chief of Ping An’s tech group to fix outage issues