Great Eastern looking at IPO, sale of stake in Malaysia

Bloomberg quoted Khor as saying during a briefing that the insurer was looking at both the initial public offer and the sale of stake as options.

SINGAPORE: Great Eastern has started the process to reduce its stake in its Malaysian unit, says its chief executive officer Khor Hock Seng.

Bloomberg quoted Khor as saying during a briefing on Tuesday the listed insurer was looking at both the initial public offer and sale of stake as options.

He was also quoted saying Great Eastern would like to be among top 10 life insurers in Indonesia over the next five years and it was open to expanding through acquisitions or organic growth.

On the Indonesian market, Khor said Great Eastern will put "a lot of focus and emphasis on".

“Company is also looking at general insurance opportunities in Indonesia,” he said.

As for Thailand, it was a market which Great Eastern would like to look at if opportunities arise.

“Singapore and Malaysia still offer a lot of growth potential,” he said.