Great Eastern Holdings, a member of the OCBC Group, posted earnings of $341.3 million for the 4QFY2020 ended December, 19% higher than earnings of $287.0 million for the period a year ago.

The higher earnings for the quarter was buoyed by the higher total weighted new sales (TWNS) and one-off positive tax impact arising from the finalisation of prior years’ tax assessment.

The group’s earnings for the FY2020, however, fell 4% to $960.6 million from earnings of $1.00 billion for the FY2019. Great Eastern’s management attributes the overall lower earnings for the year to the lower valuation of its investments due to a less favourable financial market condition for the year, particular in 1QFY2020 compared to the same period a year ago.


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