SINGAPORE : Haw Par Corporation said its first quarter net profit rose 13 percent to S$8.7 million, despite revenue falling more than 2 percent to nearly S$26 million due to lower sales from its healthcare division.

Haw Par said its healthcare division is likely to face challenges due to the weakening US dollar and slowdown in sales in the US and Europe.

The company is counting on the Middle Eastern and Asian economies to continue to provide positive momentum.

Haw Par said its Underwater World Singapore attraction will capitalise on the increased tourist arrivals.

It added that its property division should continue to benefit from strong rental and occupancy. - CNA /ls