Haw Par Corporation posts 34.3% lower FY20 net profit of $119.8 mil, maintains dividends

Haw Par Corporation’s FY2020 revenue more than halved y-o-y as a result of the Covid-19 pandemic, falling 54.5% y-o-y to $111.0 million for the year ended Dec 31, 2020.

Meanwhile, the group’s profit after tax fell 34.3% y-o-y to $119.7 million from $182.2 million. 

Haw Par Corporation Limited is a Singapore-based company involved in healthcare, leisure products, property and investment. It is the company responsible for the Tiger Balm ointment, and Kwan Loong medicated oil.