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ANNUAL REPORT 2015
HAW PAR CORPORATION LIMITED
O P E R AT I ON S R E V I EW -
P R O P E R T Y & I N V E S TME N T S
The Group’s investment property portfolio comprises
45,399 square metres of commercial and industrial space in
Singapore and Malaysia.
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 2015, the average occupancy
for these properties varied between 70% and 90%.
The increase in the supply of industrial space continued
to cause a downward pressure on occupancy rate of our
buildings. New tenancies have been secured, commencing
in 2016.
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 16,132 square metres.
A new frontage and a renovated lobby for the building were
completed during the year, giving the building more visibility
and also yielding a new café area. Improved occupancy is
expected following the renovation, braving challenges from
the persistent over-supply of office space in Kuala Lumpur.
HONG KONG
In view of a favourable offer received amid the changing
economic climate in Hong Kong, the units at Westlands
Centre, Quarry Bay, were disposed of during the year.
The performance of our properties in 2015 was lower
than that of the previous year.
Despite the over-supply in
the segments in which we operate amid a lethargic global
economy, we are on course to improving the overall take-
up rate in 2016.
Regardless of the circumstances, the good
locations of our properties, together with our expertise in
tenancy management, will help us weather through the
difficult times ahead.
INVESTMENTS
The group has substantial investments in various securities
that are actively managed under the guidance of the
Investment Committee.
No. of Shares
Fair Value
Gross
Investment Income
2015
2014
2015
2014
2015
2014
Investment Portfolio Profile
$’000
$’000
$’000
$’000
Quoted Equity Securities
United Overseas Bank Limited
70,396,770 69,692,097 1,380,481 1,707,456 76,661
51,312
UOL Group Limited
43,616,137 42,760,918 270,856 297,616
6,414
8,285
United Industrial
Corporation Limited
68,821,107 68,197,350 196,828 228,461
2,046
2,027
Haw Par Centre
– a stone’s throw
away from Singapore’s Orchard Road
Menara Haw Par
– in the heart of the
Golden Triangle in Kuala Lumpur
Haw Par Technocentre
– a light industrial building located in
Commonwealth Drive in Singapore
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THE KEY INVESTMENTS IN THE GROUP INCLUDE:
These strategic investments have provided the Group with
a stable source of recurring dividend income and financial
strength over the years.
