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MAS MANAGING DIRECTOR RAVI MENON APOLOGIZES FOR SG50 NOTE MISSPELLING

The Monetary Authority of Singapore (MAS) launched its SG50 commemorative notes sets today with much fanfare as Singaporeans queued up at banks all over the island to get their hands on a set of limited edition SG50 notes. However, this launch has now been marred by an embarassing misspelling of the name of Singapore's first President Yusof Ishak in the packaging.

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MONETARY AUTHORITY OF S'PORE COOPERATING WITH MALAYSIA ON 1MDB PROBE

As Malaysian investigators close in on alleged fund transfers into the Malaysian Prime Minister Najib Razak's personal accounts, they have asked for the cooperation of the Monetary Authority of Singapore (MAS). According to documents released by The Wall Street Journal, $681 million of the money allegedly transferred to Najib's accounts came from a Singapore account of a British Virgin Islands-based company.

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LOSS-MAKING MALAYSIA AIRLINES TO RETRENCH ENTIRE 20,000 WORKFORCE

Debt-ridden Malaysia Airlines (MAS) is likely to lay off its entire workforce of 20,000 to start afresh as as a smaller airline with a regional focus rather than international, a media report said on Monday. MAS, one of Malaysia's biggest government-linked companies hit by twin tragedies of MH370 and MH17, will terminate the job of its 20,000-employee workforce, and then offer new contracts to two-thirds of them, the Straits Times reported.

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MAS STAFF UNDER INVESTIGATION FOR QUARRELING WITH INDIAN PASSENGERS AT KLIA

Malaysia Airlines (MAS) is investigating 2 of its staff who were videoed shouting at a group of Indian passengers at Kuala Lumpur International Airport (KLIA). In the clip, a group of Indian passengers who were on transit from Singapore approached the counter. According to one of the passengers, they had been waiting for over 4 hours.

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MAS SAYS IT DID NOT USE RESERVES TO PROP UP SING DOLLAR

MAS said in a news release on Tuesday: "These reports had erroneously cited the fall in Singapore's official foreign reserves (OFR) and MAS' FX swaps since mid-2014 as an indication of heavy intervention by MAS to support the Singapore Dollar Nominal Effective Exchange Rate." Singapore's official foreign reserves declined by US$29 billion from June 2014 to US$249 billion as at end-March 2015. This came after an increase of US$105 billion over the preceding five years.

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