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Great Eastern’s 2Q earnings down but operating profit ticks up

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Great Eastern’s 2Q earnings down but operating profit ticks up

PC Lee Published on Wed, Jul 27, 2016 / 7:41 AM GMT+8

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SINGAPORE (July 27): Great Eastern Holdings saw 2Q16 earnings fall 63% to $102.2 million from $277.7 million in 2Q15.

The weaker bottomline was due to a $18.7 million loss on disposal of the group’s Vietnam subsidiary, unfavourable financial markets and low interest rate environment.

Profit for 2Q15 also included a $119.9 million gain on disposal of its investments in New China Life Insurance Company.

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