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.
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.
