Part of the shares of Chung Khiaw Bank was injected to a listed company Haw Par Brothers International in 1969 and was acquired by a domestic competitor United Overseas Bank (UOB) in 1971, after the parent company was takeover by Slater Walker.

In 1969, Aw Cheng Chye took most of the assets of family-held holding company Haw Par Brothers (Private) Limited public by the incorporation of Haw Par Brothers International and an initial public offering.

[15] Lee Chee Shan was appointed as "lifetime president" from managing director circa 1 June 1971.

[15] A proposal to acquire the remaining stake of Chung Khiaw Bank by UOB by a share swap (1:1), was announced in June 1972.

[17] A minority shareholder made a public statement on the newspaper to against it, claiming the price was not favourable as well as the conflict of interest of the director from the related parties.

[21] Chung Khiaw Bank finally became a wholly owned subsidiary of UOB in February 1988 by issuing 15,230,903 number of UOB new shares as payment for the remaining 17.13 million number of shares (17.1%) of Chung Khiaw Bank.