NTUC Income AR 2018

Notes to the Financial Statements For the Financial Year Ended 31 December 2018 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: 2018 Impact on net operating surplus $’000 Impact on equity $’000 MSCI Singapore +10% 171,805 7,587 – 10% (171,805) (7,587) MSCI Asia Ex-Japan +10% 152,861 – – 10% (152,861) – MSCI Global Equities +10% 192,541 10,074 – 10% (192,541) (10,074) 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) 75 2018 ANNUAL REPORT