Tiger Balm owner and manufacturer Haw Par Corporation reported a y-o-y increase of 16.3% in net profit to $265.5 million on the back of a 27% y-o-y leap in dividend income to $189 million for FY2025 ended Dec 31. Revenue from core operations (healthcare, leisure and property) declined y-o-y by 6.1% to around $230 million, with gross profit declining 4% to $ 128.8 million.
Other income — comprising dividend income, interest income and miscellaneous income — rose 17.3% to $211.3 million. A 16% y-o-y decrease in distribution and marketing expenses to $44.3 million also contributed to the stronger performance for FY2025.
As at end-2025, Haw Par held $4.42 billion in assets against $126.8 million in liabilities, with net asset value of $19.38. It held nearly $791 million in cash, which was around $45 million more than end-2024.
Haw Par is proposing a final dividend of 20 cents per share. In addition to the interim dividend of 20 cents, total dividend payout for FY2025 will amount to 40 cents per share.
Shares in Haw Par closed at $16.7 on Feb 27, an increase of 31 cents or 1.9%.
