NTUC Income AR 2017

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 4. MANAGEMENT OF INSURANCE AND FINANCIAL RISKS (CONTINUED) (c) Financial risk (continued) (i) Market risk (continued) (a) Equity price risk (continued) Sensitivity analysis for changes in risk variable that was reasonably possible at year-end is as follows: 2017 Impact on net operating surplus $’000 Impact on equity $’000 MSCI Singapore +10% 147,273 3,875 -10% (147,273) (3,875) MSCI Asia ex Japan +10% 153,456 5,298 -10% (153,456) (5,298) MSCI Global Equities +10% 235,452 6,261 -10% (235,452) (6,261) 2016 Impact on net operating surplus $’000 Impact on equity $’000 MSCI Singapore +13% 167,918 7,055 -13% (167,918) (7,055) MSCI Asia ex Japan +12% 134,973 5,817 -12% (134,973) (5,817) MSCI Global Equities +9% 142,962 4,780 -9% (142,962) (4,780) ANNUAL REPORT 2017 EVERY DAY MADE DIFFERENT 73