For the Quarter ended on March31, 2011, SGX posted a net profit of S$67.02 million which is low as compare to last year profit of S$74.6 million in the same period. This fall is due to the failure of ASX deal which involves huge cost and higher technology spending.

But after the failure to win back its offer for the Australian Securities Exchange (ASX), Singapore Exchange (SGX) is still open to other merger and acquisition deals, said by chief financial officer Seck Wai Kwong.

He also announced that from now onwards the aborted ASX project will not forward any costs.

Profits recorded by SGX are lowest quarterly profits posted in two years.

Australians have rejected their planned US$8-billion (S$10-billion) bid for ASX, raising questions on the growth strategy of SGX chief executive Magnus Bocker, but despite of this rejection SGX said that it will continue to build its existing business and pursue strategic growth opportunities.

For merging with ASX, SGX has spent nearly S$12 million. The operating expenses jumped 18 per cent from a yearago, driven by a 40 per cent jump in technology spending.