SGX chases links to New York and India as earnings remain flat

Exchange reports 1% increase in full-year net profit amid uncertain market conditions

Major unicorn startups based in Singapore like the superapp developer Grab and the e-commerce and gaming giant Sea have looked past the city-state to the U.S. in becoming publicly listed companies. © Reuters

DYLAN LOH, Nikkei staff writer

August 18, 2022 15:06 JST

SINGAPORE -- The Singapore Exchange is bent on cultivating links with stock markets in New York and India to boost its international standing as earnings remain largely flat for the bourse in the Asian financial hub.

SGX on Thursday reported a full-year net profit of 451.4 million Singapore dollars ($326 million), up just around 1% from its 2021 record, amid uncertain market conditions as sell-offs in Asian equities over the course of recent months keep investors jittery on the back of high inflation across countries.