Monetary Authority of Singapore records net profit of S$3.8b

Singapore’s central bank recorded a net profit of S$3.8 billion in its latest financial year, reversing a S$30.8 billion net loss previously. In its annual report, the Monetary Authority of Singapore says the reversal was on the back of strong investment gains. It will also invest S$100 million to boost the resilience of financial institutions by co-funding technology infrastructure upgrades. Nasyrah Rohim reports.