| Latest Forum Topics / Great Eastern Last:20.93 -- |
 Post Reply
|
|
Great Eastern Holdings Limited
|
|||
|
halleluyah
Supreme |
21-Jul-2021 08:26
|
||
|
x 0
x 0 Alert Admin |
dump in 50k yesterday b4 closing at 8pm....
|
||
| Useful To Me Not Useful To Me | |||
|
PhillipTan
Supreme |
21-Jul-2021 02:55
|
||
|
x 0
x 0 Alert Admin |
Great Eastern launches Singapore' s first green life insurance productInsurer Great Eastern has launched Singapore' s first green life insurance product on July 19.The product, called GREAT Green SP, is a short-term three-year non-participating single premium endowment plan, which invests into assets to fund projects with " positive environmental benefits" . The plan has a 1.55% per annum guaranteed yield upon maturity after three years. Customers may invest a minimum amount of $5,000 up to a maximum of $100,000, with the plan offering protection against death and total permanent disability, with no medical underwriting needed. According to Great Eastern, its green investments finance projects in climate change mitigation, and support global and local initiatives across renewable energy producers, green buildings and the deployment of electric vehicle (EV) charging stations. " This initiative is part of our overall sustainability approach to achieve a low-carbon economy, improve people' s lives and drive responsible business practices. We note there is a growing group of customers who are environmentally conscious and seek to contribute towards sustainability outcomes through their purchasing decisions, including financial products," says group CEO Khor Hock Seng. Great Eastern will also be donating $1,000 for every S$1 million raised from the proceeds of GREAT Green SP to local charity Zero Waste SG. This donation will support programmes to educate and advocate for the mindful usage of natural resources, driving towards a zero waste future and embracing the circular economy. " As we make GREAT Green SP commercially available, we also want to commemorate our 113th anniversary by supporting education and advocacy around zero waste to encourage social consciousness and change our daily behaviours at home and at work to support environment-friendly practices," Khor added. As at 12.41pm, shares in Great Eastern are down 4 cents or 0.81% lower at $21.97. |
||
| Useful To Me Not Useful To Me | |||
|
|
|||
|
Joelton
Supreme |
04-May-2021 08:22
|
||
|
x 0
x 0 Alert Admin |
Great Eastern Q1 profit soars to $437.6m on favourable market conditions
Great Eastern posted a net profit of $437.6 million for its first quarter ended March 31, 2021, 12.9 times that of $33.9 million for the year-ago period.
This was mainly due to a higher valuation of investments amid more favourable financial market conditions for the quarter compared to the previous year, the insurance arm of OCBC said in a bourse filing on Monday (May 3).
Operating profit for Q1 fell 39 per cent year on year to $182.3 million, from $298.6 million last year due to higher new business strain in Q1 2021 and positive one-off items in the first quarter last year, Great Eastern said.
Meanwhile, non-operating profit came in at $214.7 million, reversing a loss of $222.8 million last year. The group attributed this to mark-to-market gains from favourable market conditions in Q1, compared to significant losses the previous year amid unfavorable financial market conditions due to the Covid-19 pandemic.
A $46.4 million profit net of tax from shareholders' fund was recorded by the group, reversing a $41.9 million loss last year due to mark-to-market gains amid favourable market conditions, according to Great Eastern.
The group also registered a strong total weighted net sales growth for Q1 at $383.6 million, up 28 per cent from last year' s $299.1 million. Great Eastern attributed this to sales across all markets which recorded double-digit growth compared to the same quarter last year.
Amid the growth in sales, new business embedded value grew 30 per cent to $182.2 million from $$140.4 million last year.
Group chief executive officer Khor Hock Seng noted that the group had started the year with a " good set of first quarter results" , with key operating metrics such as total weighted new sales, new business embedded value and profit attributable to shareholders registering significant growth.
" Our strong performance is anchored on our multi-channel distribution capabilities, complemented by our digital solutions and services as well as a comprehensive suite of products," Mr Khor said.
|
||
| Useful To Me Not Useful To Me | |||
|
Jonng8888
Senior |
20-Apr-2021 13:28
|
||
|
x 0
x 0 Alert Admin |
Hi everyone. Great easter dividend ex date is tomorrow. So if i sell apprtion the day after will it affect my dividend? | ||
| Useful To Me Not Useful To Me | |||
|
Joelton
Supreme |
24-Feb-2021 10:03
|
||
|
x 0
x 0 Alert Admin |
Great Eastern Q4 earnings rise 19% to S$341.3m on one-off tax impact
GREAT Eastern Holdings on Tuesday reported a 19 per cent increase in net profit to S$341.3 million for the fourth quarter ended Dec 31, 2020, from S$287 million a year ago.
The increase was mainly due to a one-off positive tax impact arising from the finalisation of prior years' tax assessments, said the insurance arm of OCBC in its results filing.
Operating profit for Q4 fell 56 per cent year on year to S$76.5 million for Q4 from S$173.2 million, due to provision for higher expected future insurance claims.
Non-operating profit slipped 25 per cent to S$47.6 million from S$63.7 million in the corresponding year despite partial recovery from mark-to-market losses from unfavourable market conditions in Q1 of 2020.
Profit from shareholders' fund however quadrupled to S$228.1 million from just S$54.6 million for Q4 of FY2019, due to the abovementioned one-off positive tax impact.
Total weighted new sales for the quarter rose 34 per cent to S$527.6 million from S$394.5 million the Q4 a year ago, which Great Eastern attributes to strong momentum from its Singapore and Malaysia business.
Amid the growth in sales, new business embedded value grew 42 per cent to S$274.8 million from S$193.4 million in the previous year.
Directors of the group have recommended a final dividend of 50 Singapore cents per ordinary share, unchanged from a year ago.
The final dividend will be payable on May 5 upon approval by shareholders at an annual general meeting to be convened. Including an interim dividend of 10 cents per ordinary share paid in August 2020, this would bring the total dividend for the full year to 60 cents per ordinary share.
The latest set of quarterly results brings Great Eastern' s net profit for the full year to S$960.6 million, down 4 per cent from its net profit of S$1 billion for FY2019.
The group attributes this decline mainly to the lower valuation of the group' s investments which resulted from less-favourable financial market conditions for the year, particularly in Q1 of 2020 which saw a 90 per cent drop in net profit due to non-operating losses.
" The group' s solid distribution capabilities and innovative product strategy, supported by the focused execution of our digital and technology infrastructure initiatives have put us in a position of growth this year. Our timely implementation of such initiatives has helped us overcome the business challenges brought by the Covid-19 pandemic, changed the way we operate for the better and built greater resilience," commented group chief executive officer Khor Hock Seng.
" In the near future, while uncertainties are likely to persist, we remain positive on the long-term growth potential of the markets we operate in. We will continue to strengthen our business model and build a resilient and sustainable business for the long term," he added.
|
||
| Useful To Me Not Useful To Me | |||
|
|
|||
|
AverilEve
Member |
19-Nov-2020 00:07
|
||
|
x 0
x 0 Alert Admin |
HI anyone investing in great eastern as well? it has been going uptrend for many days | ||
| Useful To Me Not Useful To Me | |||
|
Joelton
Supreme |
29-Jul-2020 10:10
|
||
|
x 0
x 0 Alert Admin |
Great Eastern Q2 profit up 76% to S$297.5m on improved financial market conditions
GREAT Eastern Holdings on Tuesday posted a net profit of S$297.5 million for the second quarter ended June 30, 2020, 76 per cent higher than the S$169 million a year ago.
This was due to higher operating profit and the higher valuation of investments as a result of improved financial market conditions during the quarter, the insurance arm of OCBC Bank said in a regulatory update.
Operating profit net of tax from the insurance business rose 16 per cent to S$185.7 million from S$159.4 million for the year-ago period. Meanwhile, non-operating profit came in at S$35 million, reversing from a loss of S$23.7 million.
Profit net of tax from shareholders' fund came in at S$85.3 million for the quarter, more than double the S$36.6 million the year before.
Due to a slow down of new business volume in Q2 amid restricted sales activities, particularly from the bancassurance channel, total weighted new sales fell 4 per cent to S$286.1 million, from S$296.8 million a year ago
New business embedded value was down 28 per cent to S$109.1 million, from S$151.4 million a year ago, mainly due to lower sales in Malaysia.
For the first half ended June 30, 2020, net profit fell 35 per cent to S$331.4 million from S$511.7 million a year ago. This came amid unfavourable market conditions in the first quarter, Great Eastern said.
Earnings per share was S$0.70 for the first half, down 35 per cent from S$1.08 for the preceding year.
Driven by the Singapore business which registered a strong growth for the first six months of 2020, total weighted new sales for the first half rose 7 per cent to S$584.9 million, from S$544.2 million a year ago.
Meanwhile, profit net of tax from shareholders' fund declined 73 per cent to S$43.4 million, from S$160.8 million a year ago. New business embedded value for the first half fell 10 per cent to S$235.2 million, from S$261.2 million a year ago.
The board declared an interim one-tier tax-exempt dividend of 10 Singapore cents per ordinary share for the financial year ending Dec 31, 2020. This will be paid on Aug 26, after books closure on Aug 14.
Great Eastern group chief executive Khor Hock Seng said sales in core markets for Q2 were affected by the tighter movement restriction measures implemented due to the Covid-19 situation.
The bancassurance channel was significantly impacted as sales activities, which were largely conducted at bank branches, were restricted.
However, Great Eastern' s agency force in Singapore was able to adapt swiftly and transition to operating digitally. This helped cushion the impact of restricted sales activities, according to Mr Khor.
Looking ahead, Great Eastern expects the economic outlook to be challenging, with volatility in the financial markets and the low interest rate environment continuing. This could impact the group' s performance, it said.
|
||
| Useful To Me Not Useful To Me | |||
|
waters
Senior |
27-Apr-2016 09:51
|
||
|
x 0
x 0 Alert Admin |
Great Eastern seems a good deal now.. PE at 13.35 x while dividend yield at 2.26%. Also privatisation target of OCBC |
||
| Useful To Me Not Useful To Me | |||
|
|
|||
|
yohowslife
Member |
16-Jan-2015 18:09
|
||
|
x 0
x 0 Alert Admin |
Great eastern at its current price seems to be overbought. if fourth quarter results due on 6 feb are similarly disappointing compared to its third quarter, investors should take profit and re-enter at a more attractive price. full article below. http://www.investark.com/Analysis14ge3q14.html |
||
| Useful To Me Not Useful To Me | |||
|
ramuslow
Member |
26-Jun-2014 23:04
Yells: "MASTERSTOCKTRADER BLOG SPOT SG" |
||
|
x 0
x 0 Alert Admin |
Swee sweee, today up again... For long term investment... |
||
| Useful To Me Not Useful To Me | |||
|
ramuslow
Member |
25-Jun-2014 23:11
Yells: "MASTERSTOCKTRADER BLOG SPOT SG" |
||
|
x 0
x 0 Alert Admin |
Today Great Eastern up again after resting for 1 month. Last 4 month it had increased by 30%, beating the STI return easily. a very good stock for long term investment. More details in my blog - masterstocktrader blog spot sg |
||
| Useful To Me Not Useful To Me | |||
|
Octavia
Supreme |
29-Apr-2014 08:41
|
||
|
x 0
x 0 Alert Admin |
Great Eastern Q1 net profit up 12% GREAT Eastern Holdings on Tuesday posted a 12 per cent rise in net profit to S$231.6 million for the first quarter ended March 31, 2014, up from S$207.5 million a year ago. This was mainly due to better performance of the insurance business and a one-off gain of S$31.9 million after the group' s pared its stake in China joint venture from 50 per cent to 25 per cent, said Great Eastern. Total weighted new sales grew by 12 per cent to S$225.9 million, following a 18 per cent year-on-year (y-o-y) growth in Singapore sales to S$157.2 million, and a five per cent y-o-y growth in Malaysia sales to S$61 million. |
||
| Useful To Me Not Useful To Me | |||
|
|
|||
|
Octavia
Supreme |
07-Feb-2014 10:10
|
||
|
x 0
x 0 Alert Admin |
Great Eastern: 4Q13 net profit dropped 26% y/y, dragged by mark-to-market losses from its financial assets portfolio, and one-off accounting items. Otherwise, the core insurance business continued to register y/y improvement. Operating profit from insurance business fell 20% y/y to $135m, affected by the combined effect of two one-off items, a release of tax provision in 4Q12 which benefitted the Singapore Non-participating Fund, and a negative impact in 4Q13 from a change in the timing of terminal bonus recognition for the Malaysia Participating Fund. Otherwise y/y growth would have been positive. For the quarter, total weighted new sales rose 19% y/y to $306m, with growth across all channels in S?pore, a pick up in sales of savings and retirement products in Malaysia, as well as continuing growth in takaful sales. New business embedded value (NBEV), a measure of long term economic profitability rose by 41% y/y to $146m for the quarter, thanks to a shift in distribution channel and product mix towards higher margin sales, as well as a change in risk-adjusted discount rates to better reflect market conditions. However, non-operating profit fell 60% y/y to $15m, due to lower mark-to-market valuation of its financial assets portfolio, as news of the US Taper resulted in an adverse impact on the financial markets. The group declared final dividend of $0.40 (FY12: $0.27) and special dividend of $0.05 (FY12: $0.27). Including the interim dividend, total dividends for FY13 would be $0.55 (FY12: $0.64), which implies 3.1% yield. At $17.60, the stock trades at 12.3x P/E, and 1.6x P/B on 13.7% ROE. | ||
| Useful To Me Not Useful To Me | |||
|
Octavia
Supreme |
29-Oct-2013 09:41
|
||
|
x 0
x 0 Alert Admin |
Overall, 3Q13 net profit was 54% lower y/y, as there was a one-off post-tax gain of $421.6m from the stake sale of APB and FNN last year. Excluding the one-off gain, core net profit would be 43% higher y/y on better profit from insurance business. In 3Q13, the group recorded operating profit from insurance business of $138.6m, +26% y/y, built on better underwriting performance and higher net invmt income across all insurance funds. Total weighted new sales rose 38% y/y to $274.7m, led by the continued growth in Spore and Msia operations. The group?s new business embedded value (NBEV), a measure of its long term economic profitability, increased 18% y/y to $100.8m, reflecting stronger sales performance. Meanwhile, the non-operating profit from insurance business rose by 27% y/y to $91.1m, largely contributed by unrealized mark-to-market gains brought about by the partial recovery in financial markets following the US Fed?s Sep ?13 decision to maintain its QU programme. This resulted in a decline in interest rates, as well as other market factors such as the narrowing of credit and swap spreads. Capital adequacy ratios of the group?s insurance subsidiaries in both Spore and Msia remained well above the min regulatory ratios of 120% and 130% in the two countries respectively, reflecting the strong capital position of the group. Counter trades at 1.7x P/B, 12.1x annualized 9M13 P/E. | ||
| Useful To Me Not Useful To Me | |||
|
Octavia
Supreme |
01-Aug-2013 10:39
|
||
|
x 0
x 0 Alert Admin |
Great Eastern reported a weak headline 2Q13 result , with $18.6m net profit, -77% yoy, mainly due to the mark to market losses on the bond portfolio. Nevertheless, Credit Suisse encourages investors to look through this and focus on underlying profit, which was up 32% yoy to $154m. The main driver was the strong new business growth (+34% yoy to $264m), boosted by Singapore (+48%) due to growth in all channels. Msia new business was also up 15% yoy, with strong growth in unit linked pdts. The house has increased its TP to $25 from $22.50, after rolling forward its valuation metrics . Great Eastern trades at embedded value (EV) , 13x P/E and 1.6x P/B, which CS deems attractive given the group's robust and stable growth outlook rating - especially now that growth is back. | ||
| Useful To Me Not Useful To Me | |||
|
Octavia
Supreme |
31-Jul-2013 08:25
|
||
|
x 0
x 0 Alert Admin |
The Board of Directors is pleased to declare an interim tax exempt (one-tier) dividend of 10 cents per ordinary share in respect of the financial year ending 31 December 2013, to be paid on 4 September 2013. |
||
| Useful To Me Not Useful To Me | |||
|
Octavia
Supreme |
31-Jul-2013 08:13
|
||
|
x 0
x 0 Alert Admin |
GREAT Eastern Holdings Limited (GEH) reported on Wednesday that its net profit for the second quarter ended June 30, 2013 tumbled 77 per cent to S$18.6 million from S$81.4 million a year ago.
|
||
| Useful To Me Not Useful To Me | |||
|
puntwcare
Member |
18-Oct-2012 20:55
|
||
|
x 0
x 0 Alert Admin |
Can anyone guess how much will GE payout to her shareholders after the big sales? |
||
| Useful To Me Not Useful To Me | |||