Singapore Exchange Limited (SGX) today announced its half year financial results for FY2007 (1H FY2007).
In the six months ended 31 December 2006, SGX Group registered a record net profit of $156.4 million, a 89.8% increase over the $82.4 million net profit in the first half of FY2006 (1H FY2006). This was achieved on the back of total operating revenue of $228.7 million and total operating expenses of $94.6 million. It also included a $45 million write back of the allowance for impairment on SGX Centre which is no longer required due to improved property market conditions.
In a buoyant market the ST Index closed at a high of 2,985 points on the last trading day of 2006. Securities revenue in 1H FY2007 rose by 25.7% to $112.7 million from $89.6 million in 1H FY2006.
During 1H FY2007, we successfully attracted 26 new listings which raised $3.6 billion compared to $3.3 billion from 33 listings in 1H FY2006. The average market capitalisation of new issuers has increased 79.3% to $418 million compared to 1H FY2006. Foreign listings continue to be an important component, constituting 77% of new listings. Of these, there were three billion-dollar listings coming from Indonesia, Thailand and China.
Among the new listings, there were five REITs issues. This brings our market capitalisation for REITs to $22.9 billion as at 31 December 2006, making SGX the largest REITs market in Asia ex Japan.
Net derivatives clearing revenue rose by 32.2% from the previous corresponding period to $54.2 million in 1H FY2007. Structured warrants also performed well with trading value and volume increasing by 23.4% to $8.1 billion and 8.5% to 28.7 billion units respectively.
Financial Highlights of 1H FY2007 Results – 1 July 2006 to 31 December 2006
