The one-year interest rate in Malaysia is 3 percent. The one-year Singapore Interest rate is 2 percent. The spot rate of the Malaysian Ringgit in Singapore dollars (SS) is S$.20. The forward rate of the Malaysian ringgit is S$0.25. Is covered interest arbitrage feasible for Singapore investors (initial Investment of S$ 5,000)? Please support your answer with detailed calculations of the profit earned. Furthermore, If covered interest arbitrage is possible, what market forces will act to eliminate this arbitrage opportunity