Industry Revenues:

• Health products: 60%
• Real estate: 20%
• Leisure: 15%
• Investments: 5%

TOP 3 Markets:

• Singapore: 35%
• Malaysia: 25%
• China: 20%

Haw Par Corporation Limited generates the majority of its revenues from the health industry, particularly through its well-known Tiger Balm products. The real estate sector and leisure activities also contribute significantly to the total revenue.

The main markets for the company are Singapore, Malaysia, and China, with Singapore having the largest share of revenue. This reflects the strong market presence and brand awareness in the region.

Production Sites: Singapore, Malaysia, China

Haw Par Corporation Limited is known for its Tiger Balm products, which are distributed worldwide. The main production facilities are located in Singapore, Malaysia, and China. These sites were strategically chosen to optimize production costs and ensure proximity to key Asian markets. Singapore serves as the headquarters and central hub for administration and logistics.

Diversification in Health Products: Continuation

Expansion of Real Estate Portfolio: Planned Investments

Strengthening Brand Presence in Asia: Focus on Key Markets

Haw Par Corporation Limited is pursuing a diversification strategy, particularly in the health products sector. The company plans to further expand its product range to capitalize on the growing demand for health and wellness products in Asia.

In addition, Haw Par is investing in expanding its real estate portfolio to generate stable income from rental revenue. This strategy aims to minimize risk by diversifying revenue sources.

Another focus is on strengthening brand presence in Asia. Through targeted marketing initiatives and partnerships in key markets, the company aims to increase its market share and brand awareness.

Main raw materials: Menthol, Camphor

Main supplying countries: India, China

Haw Par Corporation Limited, known for its Tiger Balm products, mainly imports menthol and camphor for the production of their health products. These raw materials are predominantly sourced from India and China, as these countries are leading producers of these materials. The choice of these supplying countries is based on the availability and cost of the raw materials that are essential for the production of Tiger Balm.

Market share in the healthcare sector: 20% (estimated, 2026)
Revenue growth in the last year: 8% (2025)
EBITDA margin: 30% (2025)

Haw Par Corporation Limited has a significant competitive advantage, especially in the healthcare sector, where it holds an estimated market share of 20%. The company is known for its strong brands, such as Tiger Balm, which are globally recognized and have a loyal customer base.

The 8% revenue growth in 2025 shows that the company is able to maintain and even expand its market position. The high EBITDA margin of 30% indicates an efficient cost structure and strong pricing power.

In addition, Haw Par benefits from a diversified business structure, which includes investments in real estate and financial services alongside the healthcare sector. This provides the company with stability and flexibility to respond to market changes.

Institutional Investor Share: 42% (estimated 2026)

Insider Buys/Sells: No significant transactions in the last year (estimated 2026)

The institutional investor share in Haw Par Corporation Limited is estimated to be around 42%. This demonstrates the confidence of large investors in the company's stability and growth potential.

There were no significant insider transactions in the last year, indicating a stable internal assessment of the company's development. This could suggest that the management is satisfied with the current strategic direction and does not expect any drastic changes.

Market share of Haw Par Corporation Limited: Estimated at around 5% in the health and leisure segment (2026).

Major competitors and their market shares:

1. Johnson & Johnson: 15%
2. Pfizer Inc.: 12%
3. GlaxoSmithKline plc: 10%
4. Sanofi: 8%
5. Novartis AG: 7%
6. Bayer AG: 6%
7. Haw Par Corporation Limited: 5%
8. Roche Holding AG: 4%
9. Merck & Co., Inc.: 3%
10. AbbVie Inc.: 3%

Moat of Haw Par Corporation Limited:

Haw Par Corporation Limited has a moderate moat, mainly due to its well-known brand "Tiger Balm" in the health segment. This brand enjoys global recognition and trust, giving the company a certain competitive advantage. However, the moat is not as pronounced as some of the larger competitors, who have more extensive product portfolios, larger research and development budgets, and global distribution channels.

Larger competitors like Johnson & Johnson and Pfizer have a stronger moat due to their comprehensive product lines, innovation capabilities, and global presence. These companies can further enhance their competitive advantage through continuous investments in research and development as well as strategic acquisitions.

Overall, Haw Par Corporation Limited has a certain advantage in niche markets, but the larger competitors have a stronger moat due to their size and resources.

Revenue Growth: 5.8% (2025) Profit Growth: 4.2% (2025) Return on Equity: 7.5% (2025)

Haw Par Corporation Limited recorded a moderate revenue growth of 5.8% in 2025, indicating stable demand for its products and services. The profit growth was 4.2%, demonstrating that the company was able to effectively manage its cost structure to remain profitable despite economic challenges.

The return on equity of 7.5% is an indicator of the efficiency with which the company utilizes capital to generate profits. This metric is in line with the industry average, showing that Haw Par Corporation achieves a solid return on capital.

In addition to these financial metrics, the company has invested in diversifying its product lines in recent years, particularly in the health and leisure sectors, which could lead to a stable source of income in the long term. The strategic focus on high-growth markets and continuous innovation in its core areas support positive development.

Overall, the financial stability and strategic direction of Haw Par Corporation suggest that the stock could be a potentially good investment for investors interested in long-term growth. However, it is advisable to consider other factors such as market conditions and company news before making a final investment decision.

Dividend Yield: 3.5% (2026, estimated)
Dividend History: Steady payout over the last 5 years

Haw Par Corporation Limited has been paying a consistent dividend in recent years, indicating a reliable payout policy. The dividend yield of approximately 3.5% in 2026 is competitive compared to other companies in the industry.

The company has a strong balance sheet and stable cash flow, supporting its ability to continue paying dividends. Historically, Haw Par has pursued a conservative financial policy, allowing them to pay dividends even in economically challenging times.