SINGAPORE (May 6): Great Eastern Holdings, a member of OCBC Group, saw its earnings plunge 90% to S$33.9 million (RM103.16 million) year-on-year (y-o-y) for the first quarter ended March 31, 2020 (1Q20), from S$342.7 million a year ago.

Operating profit from the group’s insurance business doubled to $298.6 million y-o-y on the back of improved contributions from its core markets of Singapore and Malaysia, as well as a reduction in insurance contract liabilities in both countries.

However, its earnings (or profit attributable to shareholders) dived due lower valuation of investments arising from ... (click on link for full story on theedgesingapore.com).