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Drop in investment returns weighs on Samaggi's results.
Aug. 5--A significant drop of investment returns hurt the bottom line of SET-listed Samaggi Insurance in the second quarter with the company posting a net profit of 44.81 million baht compared with 79.97 million baht in the same quarter last year.
According to the company's statement to the Stock Exchange of Thailand, the subsidiary of Siam Commercial Bank saw its net profit drop 43.97 percent year-on-year in the second quarter and to 147.88 million baht in the first six months of the year from 192.06 million baht recorded in the same period last year.
The company attributed the lower profits largely to a substantial drop in net investment income to only ...
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...especially for Siam Commercial Samaggi Insurance (SCSMG), which has expanded...net profit to 78.61 million baht in the first half against 186...transactions worth billions of baht that are not recognised in...net loss of 15.49 million baht against a net profit of 45...
Source: HighBeam Research, Drop in investment returns weighs on Samaggi's results.