1976: Boardroom action and oil disputes

THE post-colonial restructuring of the business scene in Singapore and Malaysia was in full-swing in 1976. As the business and political worlds sought out a new equilibrium, eager players were jostling for control of the assets that came into play, with the outcomes defining the balance of power for decades to come.

The infamous Slater Walker Securities had used Haw Par as a vehicle for a flurry of deals that grew the pharmaceutical company into a massive conglomerate on the Singapore stock market. But the real value of those deals were proven to be too aggressive, which led official investigators to step in.

With the "Slater Walker boys" out of the picture, Haw Par and its assets became a prized trophy for Singapore's major business tycoons. United Overseas Bank's Wee Cho Yaw eventually won control of the business, which would become a key piece of the Wee family's fortunes.