Page 20 - ar2013

18 HAW PAR CORPORATION LIMITED
operationS review
healthcare . leisure . property . investments . people & the community
In our pursuit to widen
the brand franchise for
Tiger Balm, we have
continued to launch
our new range into new
markets to augment
our base products.
For 2013, there was an upsurge in the
number of tourists (particularly from
China) visiting our key markets like
Thailand, Hong Kong and Singapore.
These tourists tended to include Tiger
Balm as one of their must-buys. It
was also fortunate that 2013 did
not see a currency exchange loss
impact. This, coupled with a decline
in the raw material costs, contributed
to an overall improvement in our
proftability.
The regulatory climate in China did
not improve which impeded our
introduction of new products and the
growth of our business in the market.
In view of the economic downturn
in several European countries, our
markets in the region also continued
to face numerous challenges.
Inmany of the Europeanmarkets which
continued to experience economic
downturn, our business there faced
many challenges. Despite this factor,
we launched the Tiger Balm Neck
& Shoulder Rub into Holland, the
United Kingdom and France during
the year. Likened to a “Massage-
on-the-Go”, this unique product
found appeal among professionals
searching for an elegant solution
to relieve neck and shoulder pains
that resulted from long hours spent
hunched over laptops and mobile
devices.
In 2013, the sales for our Tiger Balm
Mosquito Repellent Patch and Spray
were buoyant due to the dengue
epidemic in Singapore during which
nation-wide advisories were issued
calling for the removal of mosquito
breeding habitats and recommending
the use of mosquito repellents for
protection against mosquito bites.
To harness the opportunities in
emerging economies, we strengthened
our brand presence through increased
media spend in markets with growing
potential.
below:
As a brand trusted by
generations of users, the
Tiger Balm Mosquito
Repellent range of products
were added to many
families’ arsenal to fght
dengue in Singapore.
HawPar_AR2013_FA 260314.indd 18 3/26/14