Haw Par Corporation Limited
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July 1, 2020
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Haw Par Corporation Limited

Revenue:
SGD 244.0 million (2019)
Profit:
SGD 182.2 million (2019)
Employees:
595 (2018)
Headquarters:
Haw Par Technocentre, Singapore
Founded:
18 July 1969
Current CEO:
Wee Ee Lim (2003-)
Parent:
This is the ultimate parent

Description

Haw Par Corporation Limited is a Singapore-based company involved in healthcare, leisure products, property and investment. It is the company responsible for Tiger Balm branded liniment, a topical ointment generally used for aching muscles. Its brands also included Kwan Loong and it also owns and operates weekend and leisure time destinations such as oceanariums.

The Haw Par Group owns two oceanariums: the now defunct Underwater World oceanarium attraction at Sentosa, Singapore, and Underwater World Pattaya in Thailand. In its 2018 annual report, the company noted that "Underwater World Pattaya will need to continuously renew itself to enhance visitor experience as competition stiffens."

While Haw Par generated revenues of SGD 244.0 million for the financial year end 31 December 2019, the company also makes a considerable amount of income (SGD 116.5 million for the financial year end 31 December 2019) (not included in revenue) from its investment division, which consists mainly of strategic holdings in United Overseas Bank Limited, UOL Group Limited and United Industrial Corporation Limited.

Haw Par's registered office is located at 401 Commonwealth Drive, #03-03 Haw Par Technocentre, Singapore 149598.

Haw Par Corporation Limited is listed on the Singapore Exchange (SGX) under the code H02.

In Singapore Dollars (SGD)
In Singapore Dollars (SGD)
In Singapore Dollars (SGD)
No items found.

Operating Segments:

Healthcare products - The healthcare division principally manufactures and distributes topical analgesic products under the “Tiger Balm” and “Kwan Loong” brands. Tiger Balm branded products include: Tiger Balm White Ointment, Tiger Balm Red Ointment, Tiger Balm Ultra, Tiger Balm Soft, Tiger Balm Plaster (Warm), Tiger Balm Plaster (Cool), Tiger Balm Back Pain Patch, and more. Kwan Loong branded products include: Kwan Loong Medicated Oil and Kwan Loong Refresher. In the year end 31 December 2019, the healthcare products segment accounted for 91.81% (SGD 224.0 million) of total revenue.

Others - The others segment is made up of two sub-segments, property and leisure. The property division owns and leases out several investment properties in Asia. The leisure division provides family and tourist oriented leisure activities mainly in the form of oceanariums. In the year end 31 December 2017, the company stopped reporting property and leisure as separate segments/divisions. In the year end 31 December 2019, the others segment accounted for 8.19% (SGD 20.0 million) of total revenue.

Note: Haw Par Corporation Limited generates a substantial amount of income (dividend and interest income) from its investment division, which engages in long term investing activities, mainly in quoted securities in Asia. These investments are accounted for as financial assets at fair value through other comprehensive income (FVOCI).

Mergers and Acquisitions:

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