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Singapore Exchange records 4.7 pct net profit growth in FY 2024

Source: Xinhua | 2024-08-08 | Editor:Rachel

Singapore Exchange (SGX) on Thursday reported a net profit of 597.9 million Singapore dollars (451 million U.S. dollars) for fiscal year 2024 ended June, 4.7 percent higher than the previous year.

The total revenue of SGX increased 3.1 percent to 1,231.7 million Singapore dollars in FY 2024.

SGX recorded seven new equity listings in FY 2024, which raised 117 million Singapore dollars.

"The revenue growth in FY 2024 was led by strong volumes in currencies and commodities businesses as we expanded our customer base and drove higher activity," said Loh Boon Chye, Chief Executive Officer of SGX.

Loh also noted that SGX will work closely with the review group set up by the Monetary Authority of Singapore to recommend measures to strengthen equities market development.

The review group will propose measures to attract primary and secondary listings to Singapore and improve liquidity in the equity market to broaden the pool of Initial Public Offerings.  

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