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Haw Par Corporation released its 1H2026 financial results on 14 August 2026, and the numbers tell an interesting story: the operating business softened, but the investment portfolio more than made up for it on the balance sheet. Here is what stood out to me, along with the current dividend yield based on today’s share price.
Haw Par Corporation 1H2026 Financial Results
Revenue for the half year ended 30 June 2026 came in at S$115.9 million, down 8.2% from S$126.3 million in 1H2025. The company attributed this to softer consumer sentiment from inflationary pressures and ongoing trade policy uncertainties, along with a higher comparative base last year from advanced orders. Gross profit fell 9.6% to S$64.6 million, with gross margin dipping slightly from 56.5% to 55.7%.
Other income, which mainly consists of dividend income from Haw Par’s strategic investments, dropped 29.9% to S$82.0 million, largely due to lower dividend income from its portfolio and lower interest income as rates declined. Profit before taxation fell 24.2% to S$115.2 million, and profit for the financial period came in at S$107.9 million, down 25.2% year-on-year. Earnings per share for the half year was 48.7 cents, compared to 65.1 cents in 1H2025.
Balance Sheet: The Real Story
While the income statement looked softer, the balance sheet tells a very different story. Total comprehensive income for the period actually rose 148.6% to S$496.5 million, driven by a S$388.6 million fair value gain on Haw Par’s strategic investments, mainly its long-held stakes in United Overseas Bank Limited (valued at S$2.98 billion) and UOL Group Limited (valued at S$685.9 million).
Net asset value per share climbed to S$21.43, up from S$19.38 at the end of 2025. This is a business where the reported profit-and-loss numbers only tell part of the picture, since so much of Haw Par’s value sits in a portfolio of quoted strategic investments marked to market each period.
Segment Performance
Haw Par reports across three segments. The Healthcare segment (Tiger Balm and Kwan Loong products) generated S$106.3 million in revenue with a segment profit of S$32.2 million. The Investments segment, despite generating no direct revenue, contributed S$80.3 million in segment profit almost entirely from dividend and interest income. The Others segment (property and leisure, including Underwater World Pattaya) brought in S$10.1 million in revenue with a S$5.2 million segment profit.
Dividend Declared
Haw Par declared a First & Interim Dividend of 20 cents per ordinary share, tax-exempt under the one-tier system, for 2026. This matches the 20 cents per share First & Interim Dividend declared for 2025. The dividend will be paid on 11 September 2026, with the books closing on 25 August 2026 to determine shareholders’ entitlement.
Worth noting for context: 2025’s total dividend included a S$1.00 per share special dividend on top of the regular payout, which will not necessarily repeat every year, so comparing trailing dividend totals year to year needs some care.
Haw Par Dividend Yield Based on Current Share Price
As of writing, Haw Par (SGX: H02) trades at roughly S$15.97 per share. Using the trailing twelve-month dividend of S$0.40 per share, this works out to a dividend yield of approximately 2.5%.
This sits meaningfully below what you would get from Singapore bank stocks or REITs right now. See my Best Dividend Stocks in Singapore guide for how Haw Par’s yield compares against DBS, OCBC, UOB, and local REITs. Since share prices move daily, I recommend checking the live quote on SGX’s securities page before recalculating this yourself.
My Take
Haw Par is not a stock I would buy purely for the dividend yield, since 2.5% is unremarkable on its own. What makes Haw Par interesting is that you are effectively getting exposure to a well-run consumer healthcare brand (Tiger Balm) plus a substantial, growing stake in UOB and UOL, often trading at a discount to the sum of its parts. The balance sheet strength, net asset value of S$21.43 per share against a share price around S$15.97, is the more compelling part of the story than the current income yield.
Haw Par Corporation FAQ
What is Haw Par Corporation’s dividend yield?
Based on a share price of roughly S$15.97 and trailing twelve-month dividends of S$0.40 per share, the current yield works out to approximately 2.5%. This changes as the share price moves, so check a live quote for the most current figure.
Why did Haw Par’s profit fall in 1H2026?
Revenue declined 8.2% due to softer consumer demand for Healthcare products, and other income fell 29.9% due to lower dividend income received from its strategic investment portfolio compared to the prior year.
What does Haw Par Corporation actually own?
Beyond its Tiger Balm and Kwan Loong healthcare brands, Haw Par holds substantial strategic stakes in United Overseas Bank Limited and UOL Group Limited, plus investment properties and leisure assets including Underwater World Pattaya.
Is Haw Par a good dividend stock?
Its current yield of around 2.5% is modest compared to Singapore banks or REITs. Haw Par tends to appeal more to investors interested in its underlying net asset value and strategic investment portfolio than to pure income investors.
Bringing It Together
Haw Par Corporation’s 1H2026 results show a business where the headline profit figures softened, but the underlying balance sheet strengthened considerably thanks to gains on its UOB and UOL holdings. At a roughly 2.5% dividend yield, it is not a high-income pick today, but its net asset value discount and strategic investment exposure keep it an interesting name to track. For a broader look at compounding returns over time, see my Compound Interest Calculator guide.
Disclaimer: This is not a sponsored post, and the opinions are solely based on My Sweet Retirement’s own research. Figures are sourced from Haw Par Corporation’s official 1H2026 financial statements filed on SGX, dated 14 August 2026, and publicly available share price data as of the time of writing. Share prices change daily; always check a live quote before making investment decisions. This is not financial advice.