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Total assets of the Authority as at 31 March 2001 were S$129,523 million, compared to S$114,341 million a year ago.
Holdings of gold and foreign assets, which accounted for 94.5% of total assets, grew by S$12,061 million during the year to S$122,377 million.
The Authority's reserve position in the International Monetary Fund (IMF) and Special Drawing Rights (SDRs) decreased by S$9 million to
S$1,303 million. As at 31 March 2001, Singapore's quota in the IMF was SDR862.5 million, the same as at 31 March 2000.
Other assets rose by S$3,129 million to S$5,736 million due mainly to the increase in holdings of Singapore Government Securities (SGS) from
S$2,244 million to S$5,557 million over the year. The Authority built up its portfolio of SGS for more active use in repurchase transactions as part of
money market operations.
Deposits placed by the Singapore Government with the Authority grew by S$14,673 million to S$70,789 million, reflecting mainly increased issuance
of SGS through the Authority.
Deposits and balances of banks and other financial institutions increased by S$290 million to S$6,894 million. With the statutory reserve ratios
for banks and finance companies remaining unchanged in Year 2000/01, the higher balances reflected a growth in deposits in the financial sector.
The allocation of Special Drawing Rights to Singapore remained unchanged at SDR16.5 million or S$37 million.
Provisions and other liabilities decreased by S$154 million over the year to S$35,525 million.
After meeting all expenditure and transfers to/from provisions, the net profit for the year was S$2,067 million, a decrease of 43% or S$1,531 million
compared to S$3,598 million in the previous year. The decrease resulted from translation effects arising from the strength of the Singapore dollar
against major currencies other than US dollar.
In accordance with the Statutory Corporations (Contributions to Consolidated Fund) Act (Chapter 319A, 2000 Revised Edition), 20% of the net profit or
S$413 million will be paid to the Government. As approved by the Board, S$67 million has been transferred to the General Reserve Fund and the
remaining profit of S$1,587 million will be returned to the Government.
The Authority's Annual Accounts also include assets of S$476 million under the FSDF which was established under Section 30A of the Monetary
Authority of Singapore Act (Chapter 186, 1999 Revised Edition).
The Fund was derived from the proceeds raised in connection with the sale of shares issued by Stock Exchange Limited after deducting the par value
of these shares and expenses and fees as allowed under Section 10(1) of the Exchanges (Demutualisation and Merger) Act (Chapter 99B).
Over the 4 months since its inception in December 2000, the Fund earned income of S$11 million and incurred expenses of S$1 million.
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