Between Mar 23 and 27, the spouse of Tai Sin Electric : 500 0% executive director and CEO Bernard Lim Boon Hock increased his total interest by 171,000 shares. The shares were acquired by Pang Yoke Chun at S$0.39 per share.

 

With a consideration of S$66,690, the acquisitions increased Lim&rsquo s total interest in the leading South-east Asia industrial group from 17.45 per cent to 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.

Tai Sin Electric has announced a profit attributable to shareholders for the FY2022 of $22 million, up 27.3% year-on-year (y-o-y) from $17.3 million in FY2021.

 

Earnings per share for the full year have been announced at 4.78 cents on a fully diluted basis, an increase from 3.75 cents per share the year before.

 

The company&rsquo s revenue for the FY2022 stood at $379.1 million, with a sales cost of $299.0 million, a revenue increase of 27.0% from FY2021 compared to the smaller 16.3% increase in sales cost.

 

For the six months ended June 30, Tai Sin reported revenue of $204.2 million, up 24.72% from $163.7 million in the 2HFY2021. Revenue growth came from its cable and wire segment and electrical material distribution segment, on account of an expansion in both public and private sector construction activities and sustained global demand for semiconductors and semiconductors equipment, says the company.

 

Tai Sin&rsquo s gross profit (GP) almost doubled to $80.1 million in the FY2022 from $41.4 million in FY2021, a 93.5% y-o-y increase, taking its GP margin grew from 13.86% in FY2021 to 21.12% in FY2022. This was attributed mainly to the reversal of provision for onerous contracts of $10.130 million, offset partially by deliveries of low margin projects that were secured two to four years ago when the copper price was low.

 

For the FY2022, Tai Sin&rsquo s cash and cash equivalents decreased to $29.2 million compared with $39.3 million at the end of the previous financial year. The company&rsquo s net cash used in operating activities of $7.4 million was attributed to an increase in trade receivables and inventories and payment of income tax offset by operating profit before working capital changes, decrease in contract assets and other receivables and increase in trade and other payables as well as advances received from customers.

 

The company has announced interim tax-exempt dividends of 0.75 cents per ordinary share for FY2022. The final tax-exempt dividend announced for FY2021 came to 1.5 cents per ordinary share.

 

The ongoing geopolitical tensions, inflationary pressures and aggressive tightening of monetary policy are expected to weigh on the macroeconomic environment, increasing risks of a global recession and amplifying the volatility in commodity prices and exacerbating supply chain disruptions, says Tai Sin. It warns that this could result in higher input costs amidst a tight labour market.

 

However, it remains &ldquo cautiously optimistic&rdquo of the industry prospects, particularly in the industrial, infrastructure and energy sectors where demand is expected to remain resilient because of secular growth trends. Tai Sin says it will also remain vigilant in managing the ongoing price tension arising from the global shortage of copper, volatile copper prices, elevated shipping and freight costs, as well as growing domestic wage pressures.

 

Between May 4 and 10, Tai Sin Electric : 500 0% executive director and CEO Bernard Lim Boon Hock&rsquo s deemed interest increased in the company by 500,000 shares at 39.0 cents per share. This was due to acquisitions made by both his spouse and daughter. With a consideration of S$195,000 the acquisitions took his total interest in the company from 17.38 per cent to 17.49 per cent. This followed his acquisition of 115,300 shares in his own name at 39.0 cents per share on Mar 23. Lim has gradually increased his total interest in Tai Sin Electric from 14.82 per cent at the end of 2019 and he has been an executive director of the company since September 1997.   

 

On Mar 23, Tai Sin Electric Tai Sin Electric : 500 -1.27% executive director and CEO Bernard Lim Boon Hock acquired 115,300 shares of the company at an average price of 39.0 cents per share. With a consideration of S$44,967, this took his total interest in Tai Sin Electric from 17.35 per cent to 17.38 per cent.

 

Lim has gradually increased his total interest in Tai Sin Electric from 14.82 per cent at the end of 2019 and he has been an executive director of the company since September 1997.

 

On Mar 16, Tai Sin Electric Tai Sin Electric : 500 0% executive director and CEO Bernard Lim Boon Hock acquired 66,000 shares of the company at an average price of 38.8 cents per share. With a consideration of S$25,640, this took his total interest in Tai Sin Electric from 17.29 per cent to 17.31 per cent.

 

Lim' s total interest was further increased on Mar 17 to 17.35 per cent following his wife' s inheritance of 216,294 shares from her late father.

 

Lim has gradually increased his total interest in Tai Sin Electric from 14.82 per cent at the end of 2019 and he has been an executive director of the company since September 1997.

 

Between Mar 10 and 14, Tai Sin Electric Tai Sin Electric : 500 0% executive director and CEO Bernard Lim Boon Hock acquired 393,500 shares of the company at an average price of 38.9 cents per share.

 

With a consideration of S$153,260, this took his total interest in Tai Sin Electric from 17.21 per cent to 17.29 per cent.

 

His preceding acquisitions were on Feb 16 with 550,000 shares acquired at 39.0 cents per share and on Sep 22, 2021, with 71,100 shares acquired at 37.5 cents per share.

 

Lim has gradually increased his total interest in Tai Sin Electric from 14.82 per cent at the end of 2019.

 

He has been an executive director of Tai Sin Electric since September 1997.

 

On Sept 22, Tai Sin Electric Tai Sin Electric: 500 +2.63% executive director and CEO Bernard Lim Boon Hock acquired 71,100 shares of the company for a consideration of S$26,663.

 

At an average price of 37.5 cents per share, this took his total interest in Tai Sin Electric from 17.07 per cent to 17.09 per cent.

 

This followed his acquisition of 350,000 shares at 38.0 cents per share on Sept 20 and 504,600 shares at 38.4 cents per share between Sept 2 and 6.

 

Tai Sin Electric noted in August that despite limited visibility due to Covid-19 and its associated challenges on copper price volatility and shipping constraints the group has managed to continue its transformation process to be Industry 4.0 ready and will launch new products and services when opportunities arise.

 

Mr Lim has been an executive director of Tai Sin Electric since 1997 and was appointed CEO in July 2013.

 

The share price of Tai Sin Electric has gained 22.6 per cent over the first nine months of 2021, with reinvested dividends boosting the total return to 25.4 per cent.

 

On Sept 20, Tai Sin Electric Tai Sin Electric: 500 -1.28% executive director and CEO Bernard Lim Boon Hock acquired 350,000 shares of the company for a consideration of S$133,000.

 

At an average price of 38.0 cents per share, this took Mr Lim' s total interest in Tai Sin Electric from 16.99 per cent to 17.07 per cent, and followed his acquisition of 504,600 shares at 38.4 cents per share between Sept 2 and 6 and 2,312,600 shares at 37.9 cents per share between Aug 27 and Sept 1.

Tai Sin Electric

 

Between Sept 2 and 6, Tai Sin Electric Tai Sin Electric: 500 +1.28% executive director and CEO Bernard Lim Boon Hock acquired 504,600 shares of the company for a consideration of S$193,859.

 

At an average price of 38.4 cents per share, this took his total interest in Tai Sin Electric from 16.88 per cent to 16.99 per cent, and followed his acquisition of 2,312,600 shares at 37.9 cents per share between Aug 27 and Sept

 

Between Aug 27 and Sept 1, Tai Sin Electric Tai Sin Electric: 500 +1.32% executive director and CEO Bernard Lim Boon Hock acquired 2,312,600 shares of the company for a consideration of S$876,052.

 

At an average price of 37.9 cents per share, this took his total interest in Tai Sin Electric from 16.38 per cent to 16.88 per cent.

 

Established as a cable manufacturing business in 1980, and after more than 40 years of strategic expansion and diversification, Tai Sin Electric has emerged as a leading industrial group in South-east Asia.

 

Mr Lim has been an executive director of the company since September 1997, with the company listing on Sesdaq in 1998, and subsequently transferred to the SGX Main Board in 2005.

 

On Aug 26, Tai Sin Electric announced its H2FY21 (ended June 30) group revenue totalled S$163.73 million, up 47.1 per cent from H2FY20. This was on the back of an increase of 74.7 per cent of S$41.44 million in the cable & wire segment from H2FY20.

 

It saw its FY21 (ended June 30) revenue increase 8.0 per cent, to S$298.44 million from S$276.41 million in FY20.

 

The group' s FY21 profit before tax increased to S$21.32 million from S$12.41 million in FY20.

 

With the results, the group noted that despite the challenges and limited visibility due to Covid-19, it managed to continue its transformation process to be Industry 4.0 ready, and will launch new products and services when opportunities arise.