The Group’s investment property portfolio comprises
45,816 square metres of commercial and industrial
space in Singapore, Malaysia and Hong Kong.
Singapore
Haw Par Centre and Haw Par Glass Tower are two
office buildings conveniently located in Clemenceau
Avenue with a total lettable area of 13,567 square
metres. Haw Par Technocentre is a light industrial
building located in Commonwealth Drive with a
total lettable area of 15,700 square metres. In
2014, the properties in Clemenceau Avenue and
Commonwealth Drive achieved 100% and 72%
occupancy respectively. The increase in the supply
of industrial space caused a downward pressure
on the occupancy rate of Haw Par Technocentre.
Take-up rate was slow despite a step-up effort to
secure prospective tenants.
Initiatives carried out to attract
quality tenants are expected to
elevate the portfolio yield towards
the later part of 2015.
Malaysia
Menara Haw Par, a freehold commercial building
located in Kuala Lumpur’s Golden Triangle along
Jalan Sultan Ismail, has a net lettable area of
16,074 square metres. With the persistent over-
supply of office space in Kuala Lumpur, the
building’s occupancy averaged at 66% for the year.
With approvals from the local authorities recently
obtained, the building’s frontage improvement
plan is scheduled for commencement in 2015.
Occupancy is anticipated to improve with a more
appealing frontage.
Hong Kong
Three office/industrial units at Westlands Centre,
Quarry Bay, which provide a lettable area of 475
square metres, were fully leased during the year.
The performance of our properties was slightly
behind that of the previous year. With an increased
supply in some segments which we operate, the
challenge in achieving a healthy commitment
level in these segments is expected to continue
into 2015. Nevertheless, with the good locations
at which our properties are situated, together
with our expertise in tenancy management, any
potential negative impact will likely be mitigated.
The key investments in the Group include:
Investment
Portfolio Profile
No. of Shares
Fair Value
Gross
Investment Income
2014
2013
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Quoted Equity Securities
United Overseas Bank Limited 69,692,097 67,952,169 1,707,456 1,443,304 51,312
47,567
UOL Group Limited
42,760,918 41,428,805 297,616
256,030
8,285
6,214
United Industrial
Corporation Limited
68,197,350 67,558,000 228,461
200,647
2,027
2,027
Investments
The group has substantial investments in various
securities that are actively managed under the
guidance of the Investment Committee.
These strategic investments have provided the
Group with a stable source of recurring dividend
income and financial strength over the years.
Operations Review
Healthcare
Leisure
Property
Investments
Left & above:
Haw Par Glass Tower and Haw Par Centre – two adjacent office buildings located in Clemenceau Avenue, a stone’s
throw away from the heart of Singapore’s Orchard Road
Right:
Haw Par Technocentre – a light industrial building located in Commonwealth Drive in Singapore
Haw Par Corporation Limited
24
annual report 2014
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