Haw Par Corp's full year net profit up 12%; plans special dividend of 15 cents a share

Haw Par Corp is best known for its famed medicated ointment Tiger Balm.
Haw Par Corp is best known for its famed medicated ointment Tiger Balm.PHOTO: BERITA HARIAN

SINGAPORE - Haw Par Corp, best known for its famed medicated ointment Tiger Balm, is rewarding its shareholders with generous dividends after a solid year of performance.

It plans to pay a special dividend of 15 cents a share, after net profit for the full year soared 54.2 per cent to $183.3 million.

The firm said this was owing to higher contribution from its healthcare business, investment income, and associated companies.

Turnover for the 12 months to Dec 31 rose by 16 per cent to $178.8 million, compared with the same period a year ago, mainly owing to the healthcare business.

The division reported revenue increasing 24.8 per cent to $152.6 million, because more sales came in from its key markets.