Great Eastern's net profit crashes 90% to $33.9m in Q1

Submitted By:  Staff Reporter Case Study:  No Total weighted sales rose due to growth momentum in Singapore and Malaysia. Great Eastern's net profit plunged 90% YoY to $33.9m in Q1, from $342.7m in 2019, the company announced. This is attributed to the lower valuation of investments arising from unfavourable financial market conditions. Meanwhile, total weighted new sales jumped 21% YoY to $298.8m over the same period, attributable to the growth momentum in Singapore and Malaysia operations. read more