SINGAPORE: Speculation of a battle for Haw Par Corp Ltd swirled yesterday after Indonesian-born Singapore tycoon Oei Hong Leong upped his stake, driving shares in the maker of Tiger Balm healing ointments to an eight-month high.
Oei, known for sniffing out cheap deals and taking on industry heavyweights, has grabbed a substantial stake in Haw Par, which is controlled by prominent banker Wee Cho Yaw who also runs Singapore's second-largest bank, United Overseas Bank.
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