Despite mass familiarity with Tiger Balm, little else is known about Haw Par, which operates without much fanfare and receives muted recognition from the investing community. But this seems to be changing as Macquarie Equity Research initiates coverage of Haw Par.
Among the more than 600 companies listed in Singapore, few are as rich in history and heritage as Haw Par Corporation. With roots dating back to the 1870s, the company’s iconic Tiger Balm has withstood the test of time and remains relevant today.
Initially available only in its distinctive, recognisable hexagonal jar as a waxy ointment, Tiger Balm is now part of an extensive product line that includes plasters, lotions, rubs, and sprays to suit diverse individual preferences. Beloved by generations, Tiger Balm continues to anchor Haw Par’s present and future.
