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Tai Sin Electric
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tai sin on bullish breakout
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19-Sep-2025 08:33
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Tai Sin Electric proposes acquisition of two companies for total of US$12.3 milNicole LimThu, Sep 18, 2025 &bull 07:27 PM GMT+08 &bull &bull
The proposed acquisition of the two companies which are incorporated in Thailand and the Philippines allows the group to capitalize on the growth of the green energy sector in Southeast Asia.
Tai Sin Electric is proposing to purchase the entire issue share capital of BayWa r.e. Solar Systems Co and BayWa r.e. Solar Systems Corporation, which are incorporated in Thailand and the Philippines respectively. The consideration amount for the sale shares is US$12.3 million, or about $15.7 million. This is made up of US$5.7 million in sale shares amount US$4.2 million which is an amount of intra-group loan for the Thai target and US$2.5 million which is an amount of intra-group loan for the Philippines target. The consideration also includes a leakage adjustment amount in US dollars, which is an amount to be agreed between Tai Sin and the seller, inter alia any dividend or distribution or other return of capital declared. The completion of the sale is expected to take place on Nov 3, and will be funded by internal sources of Tai Sin and by way of external financing from bank loans. Tai Sin says that the proposed acquisitions are in line with its strategy to expand into sustainable and future-oriented businesses, and will enable the group to capitalize on the growth potential of the green energy sector in Southeast Asia. Shares in Tai Sin Electric closed 1 cent lower or 1.709% down at 57.5 cents on Sept 18. |
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18-Sep-2025 14:46
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A particular fund would be interested in this type of counter ......
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18-Sep-2025 09:25
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From Nextinsight :
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In the ongoing boom in the construction industry and regional data centres, the beneficiaries span multiple industries and roles. While upstream contractors and suppliers (such as Pan-United) are most visible, less recognised beneficiaries include a critical player -- electrical cable manufacturer Tai Sin Electric. Listed on SGX for 27 years with a low profile in the investment community, Tai Sin provides the wires that power and connect critical systems in infrastructure and data centers, ensuring electricity flows, data moves, and safety is maintained. Its products are like the veins and nerves of these projects. Tai Sin has been involved in big-name projects, some of which are highlighted on its website as follows: 
FY2025 HighlightsReflecting the buoyant construction and data centre sectors, Tai Sin delivered a stellar FY2025 (ended June). Revenue climbed 20% YoY to SGD 480.7 million, fueled by robust demand in its core Cable & Wire segment (+25.4%) and Electrical Material Distribution (+13%). " In Singapore, growth was supported by higher demand from public sector construction activities and data centre developments," says the company. Net profit surged 78% to SGD 25.9 million on improved gross margins at 16.7% (+1.1 percentage points). For perspective, Tai Sin had a SGD2.2 million gain on disposal of a subsidiary in Cambodia in FY25, and did not have impairment losses (unlike the SGD2.3 million recognised in FY24). Operating cash flow dipped to negative SGD 5.1 million due to working capital investments in inventory for anticipated demand. |
Despite its low profile, with no analyst and media coverage (unlike construction stocks upstream in the supply chain such as Pan-United, BRC Asia, and Hong Leong Asia), Tai Sin' s stock price has gained a commendable 33% year-to-date.
Most of the gain took place from July, raising the stock' s PE to 9.2X. How does this look?
Without a comparable company on the SGX, let' s look across the Causeway.
Source: MorningstarSouthern Cable' s Performance
On Bursa Malaysia is Southern Cable Group, which is benefiting from demand for high-voltage cables in data centres, renewables and and rail projects.
Southern Cable' s trailing 12 months (July 2024&ndash June 2025) showcased strong growth, with revenue hitting MYR 1.53 billion (up ~13% YoY on a comparable basis).
Net profit soared to MYR 102.86 million (~42% YoY increase).
Despite profit gains, free cash flow was negative at MYR 44 million due to capex for capacity expansion.
| Comparing Tai Sin and Southern Cable |
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Metric |
Tai Sin Electric (FY2025, SGD M) |
Southern Cable (TTM, MYR M) |
Notes |
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Revenue |
480.7 |
1,530 |
Tai Sin is slightly ahead. |
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Net Profit |
25.9 |
102.9 |
Southern' s absolute profit higher (~SGD 31M equiv.), but Tai Sin' s 78% YoY vs. 42% shows catch-up. |
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EPS |
0.0564 SGD |
0.90 MYR |
Southern' s trailing PE is 23.3X while Tai Sin' s 9.2X. The former' s market cap is RM2.1 billion (S$650 m) versus Tai Sin' s S$242 million. |
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ROE |
11.1% |
21.9% |
Southern excels in returns, leveraging equity better. |
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Debt/Equity |
0.41 |
0.59 |
Both prudent. |
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Operating Cash Flow |
-5.1 |
25 (est.) |
Southern positive Tai Sin' s negative on higher working capital needs. |
| Dividend Yield | 4.5% | 1.0% | Tai Sin clearly has a higher yield |
Tai Sin, founded in 1980, has a mature, diversified model across cables, distribution, testing, and switchgear, with a strong Singapore-Vietnam-Malaysia production footprint.
Its strengths include ISO certifications and iconic project wins Singapore. Southern, listed in 2020, focuses on specialized manufacturing for power, telecom, and fire-resistant cables, emphasizing smart tech and in-house testing. Opportunities abound for both in ASEAN' s green energy shift. Risks include swings in the price of copper price, the main input material for making electrical cables. Tai Sin hedges part of its copper exposure. Southern Cable appears as a growth stock with stronger margins and higher ROEs, which suits growth investors. Tai Sin, at 9.2X PE or roughly half of Southern Cable' s and offering a higher dividend yield of 4.5%, suits value seekers eyeing meaningful capital growth too. As new data centres and colossal infrastructure icons like Changi Terminal 5 and the Tuas Mega Port get built, they will pulse with life, energized likely by Tai Sin Electric' s robust cables. |
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Tai Sin Electric to acquire 25% stake in charging station contractor
Its subsidiary Lim Kim Hai Electric has subscribed for 333,333 new ordinary shares of EV Mobility for S$1.5 million
[SINGAPORE] Power distribution solutions provider Tai Sin Electric has entered into a share subscription agreement to acquire a 25 per cent stake in charging station contractor EV Mobility on Friday (Aug 1).
Lim Kim Hai Electric (LKHE) &ndash a Tai Sin subsidiary &ndash has subscribed for 333,333 new ordinary shares of EV Mobility for S$1.5 million. No independent valuation was conducted on EV Mobility for the share subscription, with the consideration determined by both sides based on business prospects and the projected financial performance of EV Mobility, as well as the anticipated growth in demand for charging facilities.
The move is in line with Tai Sin&rsquo s strategy to leverage the growth of the electric vehicle (EV) ecosystem in Singapore and expand into sustainable and future-oriented businesses.
EV Mobility provides electrical charging stations for EVs, software to manage EV chargers, and an app for EV drivers to locate and charge their vehicles at the stations. The company&rsquo s customers include commercial and residential properties such as Fu Lu Shou Complex, Oxley Bizhub and Gem Residences.
The share subscription will be funded by internal resources of LKHE
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Tai Sin Electric 1HFY25 Results Analysis
Financial Highlights
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Revenue: SGD 235.1 million, up 20.1% year-on-year from SGD 195.7 million. -
Net Profit: SGD 15.9 million, a 129% increase from SGD 7.0 million in 1HFY24. -
Gross Profit Margin: Improved to 17.58% from 16.51%. -
Operating Cash Flow: SGD 7.2 million, a significant improvement from an outflow of SGD 3.7 million in the prior year. -
Dividend: Interim dividend of 0.75 cents per share declared
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Tai Sin Electric
Between Apr 7 and 9, Tai Sin Electric executive director and CEO Bernard Lim acquired 216,700 shares at S$0.39 a share. This increased his total interest in the industrial group from 18.17 per cent to 18.22 per cent. Lim has gradually increased his total interest in the company from 14.82 per cent at the end of 2019.
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Joelton ( Date: 16-Sep-2024 11:01) Posted:
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Tai Sin Electric
Between Sep 9 and 10, Tai Sin Electric : 500 -1.25% executive director and CEO Bernard Lim Boon Hock acquired 1,179,955 shares at S$0.40 per share. This increased his total interest in the industrial group from 17.74 per cent to 18.00 per cent. It followed his buying of 200,000 shares at S$0.395 per share on Aug 30.
Lim has gradually increased his total interest in the company from 14.82 per cent at the end of 2019.
Tuan Sing Holdings
Nuri Holdings has continued to increase its interest in Tuan Sing Holdings : T24 -1.85% from 53.65 per cent prior to Aug 21, to 53.95 per cent as at Sep 11. This increased the deemed interests of executive director and CEO William Liem and non-executive and non-independent director Michelle Liem Mei Fung.
The 730,300 shares acquired between Sep 5 and Sep 11 were transacted at an average price of S$0.239 per share.
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Joelton ( Date: 09-Sep-2024 09:26) Posted:
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Tai Sin Electric
On Aug 30, Tai Sin Electric : 500 +1.27% executive director and CEO Bernard Lim Boon Hock acquired 200,000 shares at S$0.395 per share.
This increased his total interest in the industrial group from 17.70 per cent to 17.74 per cent. Lim has gradually increased his total interest in the company from 14.82 per cent at the end of 2019.
Tai Sin Electric reported its H2 F20Y24 (ended Jun 30) revenue increased 6.87 per cent from H2 FY2023, to S$204.9 million, driven by growth across all segments in South-east Asia.
For FY2024, the group&rsquo s revenue decreased by 5 per cent from FY2023 to S$400.7 million, with declines in the electrical material distribution and cable and wire segments, partially offset by growth in the test and inspection segment.
This boosted the group&rsquo s H2 FY2024 net profit to increase 61.6 per cent to S$7.7 million from H2 FY2023, while the FY2024 net profit decreased 12.3 per cent from FY2023 to S$14.7 million.
The group relayed that it is constantly on the lookout for suitable business opportunities to drive sustainable growth in South-east Asia, capitalising on resilient domestic demand underpinned by the continued development of digital infrastructure and the burgeoning green economy.
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Tai Sin Electric
Between Feb 19 and 20, Tai Sin Electric : 500 0% chairman, non-executive and non-independent director, Bobby Lim Chye Huat, acquired 50,100 shares at an average price of S$0.40 per share. With a consideration of S$19,790 this increased Lim&rsquo s interest in Tai Sin Electric from 6.66 per cent to 6.67 per cent.
For its H1FY24 (ended Dec 31) the group reported revenue of S$195.745 million, a decline of 14.8 per cent from its H1FY23. The decline in revenue was across all the segments except for the testing and inspection segment.
The group noted that while the business environment is expected to remain challenging, the growth prospects of the local manufacturing and trade-related sectors are expected to improve in tandem with the turnaround in global electronics demand.
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Tai Sin Electric
On Oct 23, the spouse of Tai Sin Electric : 500 0% executive director and CEO Bernard Lim Boon Hock acquired 464,000 shares of the company.
The shares were acquired by Pang Yoke Chun at S$0.40 per share which increased Lim&rsquo s total interest in the South-east Asian industrial group from 17.55 per cent to 17.65 per cent.
Lim has gradually increased his total interest in the company from 14.82 per cent at the end of 2019.
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Tai Sin Electric
On Sep 19, Tai Sin Electric : 500 0% chairman, non-executive and non-independent director Bobby Lim Chye Huat acquired 135,700 shares at S$0.40 per share. With a consideration of S$54,280, this increased Lim&rsquo s interest in Tai Sin Electric from 6.63 per cent to 6.66 per cent. This followed his acquisition of 51,000 shares at S$0.40 per share between Sep 7 and Sep 13.
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Tai Sin Electric
Between Sep 7 and 13, chairman, non-executive and non-independent director, Bobby Lim Chye Huat acquired 51,000 shares at S$0.40 per share. With a consideration of S$20,400 this increased his interest in Tai Sin Electric from 6.61 per cent to 6.63 per cent.
On Aug 28, Tai Sin Electric reported FY23 (ended Jun 30) group revenue of S$421.7 million in the current financial year, up by 11.3 per cent in FY22. At S$280.228 million for FY23, the cable & wire segment&rsquo s revenue increased by 20.6 per cent from FY22.
This increase came from Singapore, Malaysia, and Vietnam&rsquo s cable & wire segment, primarily driven by higher sales volume as both public and private sector construction activities continued to recover. In addition, FY23 sales were boosted by revenue contribution from a newly acquired Malaysian subsidiary.
Looking forward, the group noted that it will continue to focus on executing its strategy and is constantly on the lookout for suitable business opportunities in South-east Asia where demand is expected to remain resilient.
The group reiterated that growing investment in digital infrastructure and rapid adoption of emerging technologies, such as artificial intelligence, will present opportunities for it to support the growth of the digital economy. It also believes that the collective commitment of industry participants to decarbonise transportation has fuelled the growth of the electric vehicle ecosystem that will pave the way to strengthen its involvement in a sustainable economy.
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Tai Sin Electric
On Apr 13, the spouse of Tai Sin Electric : 500 0% executive director and CEO Bernard Lim Boon Hock acquired 9,500 shares of the company.
The shares were acquired by Pang Yoke Chun at S$0.39 per share and marginally increased Lim&rsquo s total interest in the South-east Asia industrial group, which is 17.49 per cent.
Lim has gradually increased his total interest in Tai Sin Electric from 14.82 per cent at the end of 2019.
The writer is the market strategist at Singapore Exchange (SGX).
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Tai Sin Electric
On Apr 11, the spouse of Tai Sin Electric : 500 0% executive director and CEO Bernard Lim Boon Hock acquired more shares of the company. This increased Lim&rsquo s total interest by 20,000 shares. The shares were acquired by Pang Yoke Chun at S$0.39 per share. With a consideration of S$7,800, the acquisitions marginally increased Lim&rsquo s total interest in the leading South-east Asia industrial group which is 17.49 per cent. Lim has gradually increased his total interest in Tai Sin Electric from 14.82 per cent at the end of 2019.