On 11 August 2015, Haw Par delivered a good set of 2Q 2015 performance. Profits for the period was $115.877 million and the 6 month period was S$129.33 million, representing an increase of 88% and 75% increase compared to 2014 results. On the surface, this might seem like an impressive showing by Haw Par. However, upon closer scrutiny, the profits was actually bolstered by the S$55.8 million gain arising from the partial disposal and reclassification of one of its assets, Hua Han. In terms of operating cash flow, the 2nd quarter saw a healthy cash flow of $48.3 million due to the investment income of $38.6 million. As I have touched in my previous article on Haw Par, the company has substantial investments, consisting mainly of strategic holdings in United Overseas Bank Limited, UOL Group Limited and United Industrial Corporation Limited. This investment portfolio provides a stable source of funding ......