Great Eastern Holdings, a member of the OCBC group, reported earnings of $297.5 million for 2Q20 ended June, 76% higher than the $169 million posted a year ago.

Its management attributes the quarter’s performance to higher operating profit driven by improved contribution from its core markets and higher valuation of investments as a result of improved financial markets during the period.

The latest set of results brings the group’s 1H20 to $331.4 million, 35% down from the $511.7 million in 1H19 due to the “unfavourable” market conditions in 1Q20.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook