In November last year, minority shareholders of United Overseas Insurance wrote to the UOI board to ask it to distribute UOI’s Haw Par shares. Haw Par closed at $10.75 at end-Oct 2024 compared to $15.20 on Oct 10.
Market rotation is shining the spotlight on a couple of pharmaceutical stocks. For instance, Trendlines rose by almost 42% on Oct 10, and Tianjin DaRenTang rose by 5 cents. Haw Par Corp was the top gainer on Oct 10, up 43 cents in a single session. The US administration plans to impose 100% tariffs on some patented pharmaceutical products. Is Tiger Balm impacted? It appears to be affected based on a report by NBC News.
Although Haw Par is classified as a pharmaceutical company through its operating business in the healthcare sector, mainly the Tiger Balm brand, its investments in United Overseas Bank, UOL Group and Singapore Land Group underpin Haw Par’s book value.
