Investment gains boost Haw Par Q3 net

Singapore

CONGLOMERATE Haw Par Corp posted a 19.2 per cent net profit increase in its fiscal third quarter as solid investment returns more than offset weakness in its property and leisure businesses.

The company earned S$26.6 million, or 12.2 Singapore cents per share, in the three months through September, as profit from investments in companies such as United Overseas Bank rose 28.3 per cent to US$17.6 million.