Tai Sin Electric    Last:0.545    -0.005

tai sin on bullish breakout

So where the market is now is what I would have predicted. I don' t expect the issue to have significant ongoing effects because the company would have adjusted future contracts to account for changes in underlying costs.

Alignment      ( Date: 27-Jan-2026 18:39) Posted: The share price fell way too much yesterday. Falling from 56 cents to 49 cents implies value destructon of S$32m, but the guidance was only for lower net profit than the HY Dec 24 level of S$16m. So at most equivalent to a fall of 3.5 cents meaning to 52.5 cents. More likely 53-54 cents.

 

Wolf Money(Tai Sin Electric）

 

Before I go for my CNY break. I have taken a small position in Tai Sin Electric. I find the business attractive due to its strong competitive advantages. It is a unique data centres, electrification and construction play combined. This old school company also pulls the levers on the digital economy. Below are my thoughts.

https://lonewolfinvestor.blogspot.com/2026/02/wolf-moneytai-sin-electric.html

 

Yes my comment was a reference to the lower net profit guidance. It states the profit will be lower than the prior corresponding period profit of S$16m, but that means there will be some profit. So in the very worst case scenario let' s say profit is zero. My presumption is that in such a worst case scenario profits will therefore be S$16m below expectations which implies a 3.5 cent fall on the day of the announcement. Given the share price fell 7 cents my view was that this was a signifcant overreaction.

 

The Board of Directors (the &ldquo Board&rdquo ) of Tai Sin Electric Limited (the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ) wishes to announce that, based on a preliminary review of the Group&rsquo s unaudited management accounts for the half year ended 31 December 2025 (&ldquo 1HFY2026&rdquo ), the Group is expected to report a significant lower net profit for 1HFY2026 compared to the previous corresponding six-month period ended 31 December 2024. The lower profitability for 1HFY2026 is due primarily to the sudden surge in copper prices towards the end of December 2025 which resulted in a need to make additional provision for onerous contracts. These contracts were secured previously with committed selling prices and as at 31 December 2025, they remained uncompleted. The Company is in the process of finalising the unaudited financial results of the Group for 1HFY2026. Further details of the Group&rsquo s financial performance will be disclosed when the Company announces its unaudited consolidated financial statements for 1HFY2026, via SGXNet, before 14 February 2026. In the meantime, shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company. When in doubt as to the action they should take, shareholders and potential investors are advised to consult their stockbrokers, bank managers, accountants, solicitors or other professional advisers.

 

the gudiance was for much lower net profit? 

Alignment      ( Date: 27-Jan-2026 18:39) Posted: The share price fell way too much yesterday. Falling from 56 cents to 49 cents implies value destructon of S$32m, but the guidance was only for lower net profit than the HY Dec 24 level of S$16m. So at most equivalent to a fall of 3.5 cents meaning to 52.5 cents. More likely 53-54 cents.

 

The share price fell way too much yesterday. Falling from 56 cents to 49 cents implies value destructon of S$32m, but the guidance was only for lower net profit than the HY Dec 24 level of S$16m. So at most equivalent to a fall of 3.5 cents meaning to 52.5 cents. More likely 53-54 cents.

 

for manufacturing who material is a significant part must not used average costing.
average costing always has a time delay effect. so in rasing cost time inventory cost 
does not reflect real replacement cost. so costing of end product is broken. result in sales 
department very easy to sell as they selling below market price. then later when average cost
catch up their bok closing will show selling at a lost.
copper is as much as 60-65% of cable cost. so better to use last in first out costing.
in that way the inventory cost always reflect the material cost needed to hold invetory and will be more
stable. while costing for end product will reflect the market material replacement cost.
other way is to forward hedge the cost of material but it will take some experince to judge if prices
are going up or down. also may end up with provision or wild profit like SIA use to suffer.
think about. not need to give sales department easy job then has to provide later.

 

Material cost keep rising.
Will construction companies get into cost overrun?

 

Will dividend be cut ? Dydd ... 

didn' t know that sharp rise in copper price can affect profits by so much ... Dydd 

 

 

 

where to find a company 70% Singapore market share dominance...

muifan      ( Date: 02-Nov-2025 12:54) Posted: AI' s fastest spread ever &mdash but not everywhere According to Microsoft, countries like the UAE, with 59.4% adoption, Singapore at 58.6%, and Norway at 51.9%, lead the world in AI use. As previously  reported, Tai Sin Electric counts 70% of data centres in Singapore as clients --  which points to its market share dominance.

 

AI' s fastest spread ever &mdash but not everywhere

According to Microsoft, countries like the UAE, with 59.4% adoption, Singapore at 58.6%, and Norway at 51.9%, lead the world in AI use.

As previously  reported, Tai Sin Electric counts 70% of data centres in Singapore as clients --  which points to its market share dominance.

 

Looks like its dividend is fixed. If it never changes, then the company' s performance does not really matter, and it just looks like a bond.

 

 

This stock reminds me of early days movement of OKP.
Just need a boutique fund to have interest and it will rocket to no man' s land
$0.625 +$0.02

 

If based on PE of 12.5 x, it should be trading at $0.715

SmallSmall      ( Date: 06-Oct-2025 09:37) Posted: This Stock Attracts First Notice From UOB Kay Hian, Year-To-Date Gain 51%   06 October 2025 THE CONTEXT &bull   Tai Sin Electric' s stock (59 cents) has done well this year, gaining 51% year-to-date with most of the gain happening in 3Q when it popped 45%, as investors increasingly recognised its fundamentals anchored in the construction boom and proliferation of data centres in Singapore and Malaysia.    &bull   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.     FY Interim (ct) Final (ct) Total Dividend (ct) 2021 0.75 1.5 2.25 2022 0.75 1.6 2.35 2023 0.75 1.6 2.35 2024 0.75 1.6 2.35 2025 0.75 1.6 2.35 &bull UOB Kay Hian today put out a non-rated report on the company, which has a consistent dividend payout in recent years (see table). Tai Sin did not increase it despite a record profit for FY25 (ended June), likely due to higher working capital needs as business volume goes up. &bull While its stock has done well of late, it lags behind that of its Malaysian peer, Southern Cable Group which has gained  94%  year-to-date and trades at  26X PE  compared to Tai Sin' s 10X. (See:  Construction Boom Powers Electrical Cable Manufacturers, S' pore Player Trades at Half The PE of M' sia' s) Read more below...   Excerpts from UOB KH report Analyst:  Roy Chen, CFA Tai Sin Electric (TSE SP)   Powering Singapore&rsquo s Landmarks And Beyond Highlights &bull TSE is a market-leading supplier of electrical cables and wires in Singapore. &bull It is a key beneficiary of the upbeat infrastructure demand in the region. &bull TSE trades at a benign 10.2x FY25 PE, offering a consistent over 4% yield.     Analysis &bull   A diversified regional industrial group with core strengths in electrical cable & wire manufacturing. Tai Sin Electric (TSE) is one of the leading electrical cable and wire (C& W) manufacturers in Southeast Asia with production bases in Singapore, Malaysia and Vietnam that support sales across the region. In FY25, C& W contributed to 86% of TSE&rsquo s operating profit. Through its other subsidiaries, TSE also: a) carries and distributes a wide range of third-party electrical products in Singapore, supporting the needs of local contractors and manufacturers b) provides independent testing and inspection services for construction projects in Singapore, Malaysia, and Indonesia and c) manufactures electrical switchboards in Brunei. &bull   A major supplier to Singapore&rsquo s key infrastructure and iconic landmarks.  TSE is a trusted brand with a leading market share of the cable and wire supplies in Singapore. TSE&rsquo s cable and wires are widely used in Singapore&rsquo s key infrastructure including MRT lines, Changi Airport, and Tuas Mega Port. It is also a primary supplier to many of Singapore&rsquo s iconic landmarks such as Jewel at Changi, Gardens by the Bay, and Resorts World Sentosa. TSE supplies to over 70% of data centres in Singapore. &bull TSE&rsquo s core competitive advantages include: a) its sizeable local production facility that can cater to large and mega projects while offering superior logistics experiences (short turnaround time and multiple deliveries within a day) b) its strong project track record and c) its &ldquo tri-axis&rdquo production bases in Singapore, Malaysia and Vietnam that ensure supply resilience.      Financial review   TSE has been consistently profitable for 28 years since its listing in 1998, though its profits and margins may fluctuate with infrastructure development cycles and copper prices.    Tai Sin stock price  59.5 cents 52-week range 38-59.5 c Market cap S$271 M PE  9.9 Dividend yield  4.1% P/B 1.2 52-week change 45% While TSE routinely hedges a portion of copper demand after a project is entered, its contract margins may still be somewhat eroded if copper prices sharply rise. This happened during the pandemic when the supply chain was severely disrupted, resulting in TSE ending up with onerous contracts (older contracts that were entered when copper prices were low) that dragged its financial performance in FY23-24. With the onerous contracts largely depleted, TSE&rsquo s net profit was more normalised in FY25, reaching a record-high level of  S$25.9m  (+78% yoy). &bull   Outlook:  Geared to the region&rsquo s upbeat infrastructure development. TSE would continue to benefit from the upbeat infrastructure demand in Singapore, including new MRT Lines, Changi Airport T5, the Paya Lebar Air Base relocation, the Marina Bay Sands integrated expansion, the East Coast &ldquo Long Island&rdquo , and the Woodlands Regional Centre projects. TSE is also a key beneficiary of the data centre boom in Malaysia, with many new data centres being built in south Johor Bahru, close to TSE&rsquo s Malaysian production facility.   Bottomline   &bull Trading at a benign 10.2x FY25 PE and offering a 4.1% yield.  TSE&rsquo s FY25 PE stands at a discount to construction sector peers&rsquo average of 12.7x.  Roy Chen, CFA, analystTSE maintains a healthy balance sheet with a 21% net gearing at end-FY25.  Share Price Catalyst a)Organic earnings growth driven by upbeat infrastructure investments in the region, b) possible dividend increases, and c) bolt-on acquisitions.

 

  06 October 2025

 

They bought these businesses for less than 2 PE.

Stock down... interesting...

Joelton      ( Date: 19-Sep-2025 11:10) Posted: Tai Sin Electric proposes acquisition of two companies for total of US$12.3 mil   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.

 

This is a great find. 

70% SG revenue, 20% Malaysia revenue, growing in Vietnam, Indonesia, Thailand, Philippines. 

The SG construction revenue has yet to peak i think and you get all the other countries as further upside for 10 pe.