Content      
HOME
OUR MISSION
OUR OBJECTIVES
 
MAS FINANCIAL
STATEMENTS
G MAS FINANCIAL STATEMENTS  
 
Statement by Directors  
98
 
Financial Statement Highlights  
99
 
Auditor’s Report  
100
 
Income Statement  
101
 
Balance Sheet  
102
 
Statement of Changes in Equity  
103
 
Cash Flow Statement  
104
 
Statement of Backing of Currency in Circulation  
105
   
Notes to the Financial Statements  
106
 
  MAS FINANCIAL STATEMENTS

MAS FY2005/2006 Financial Statement Highlights
 

MAS’ total assets, including the Currency Fund, grew by S$11,435 million during the year to S$205,923 million at 31 March 2006. The Currency Fund’s net external assets of S$18,309 million at the financial year-end, exceeded the currency in circulation, providing 110% asset backing.

Total liabilities, including the currency in circulation, increased by S$12,863 million to S$189,451 million, due mainly to deposits of the Singapore Government with the MAS that grew by S$10,601 million.

Compared to the previous year, the Authority posted a lower net profit of S$1,216 million for the year as interest rates rose globally and the Singapore dollar strengthened against the major currencies. Total expenditure rose S$255 million to S$812 million, mostly due to higher interest and investment expenses.

In accordance with Section 3 of the Statutory Corporations (Contributions to Consolidated Fund) Act (Chapter 319A, 2000 Revised Edition), 20% of the net profit or S$243 million, will be paid into the Singapore Government’s Consolidated Fund. The remaining S$973 million of the net profit for the year will be credited to the General Reserve Fund (S$866 million) and the Currency Fund Reserves (S$107 million). The MAS Board has approved a return of S$2,402 million to the Government from the General Reserve Fund under Section 6(3) of the MAS Act (Chapter 186, 1999 Revised Edition).