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Great Eastern Life Assurance Co. Ltd, often known as Great Eastern Life or simply Great Eastern, is a Singaporean multinational insurance company and subsidiary of OCBC Bank operating in the Southeast Asia region. Founded in 1908 by Alfred Hewton Fair, it is the largest and oldest life insurance company in Singapore and Malaysia.
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In 2006, Cathay prevailed in a bidding war with United Commercial Bank to acquire Great Eastern Bank. Cathay also acquired New Asia Bank in 2006. [13] On March 31, 2006, Cathay announced plans to acquire a 20% stake in the First Bank, but the deal fell through because the companies failed to get approval from the Chinese government. [14]
By the mid-1970s the parent company of S. Klein, Meshulam Riklis' Rapid-American Corp. (also owner of the McCrory Stores dime-store chain), seemed more interested in the real estate the company held than the retail operations (a fate Two Guys would fall to in 1982), and it started to close the stores in clusters.