SGX:500

Tai Sin Electric's Attributable Profit Plunges 63% in Fiscal H2

Tai Sin Electric's (SGX:500) attributable profit to shareholders fell 63% during the fiscal second half ended June 30 to SG$3.8 million from SG$10.1 million a year earlier, according to a Friday filing with the Singapore Exchange.Earnings per share came in at SG$0.0082 compared with SG$0.0219 in the year-ago period.Revenue rose 28% year over year to SG$315.0 million from SG$245.6 million.The cable manufacturer declared a final dividend of SG$0.0160 per share for the period, payable Nov. 27.

Tai Sin Electric to Form Joint Venture in Indonesia

Tai Sin Electric (SGX:500) signed a shareholder framework agreement with Elvo Energy to establish a joint venture company named Elvo Electric Indonesia, according to a Thursday filing with the Singapore Exchange.The JV will focus on the industrial electrical automation, distribution and warehousing supply chain business.Under the terms, Tai Sin's subsidiary, Lim Kim Hai Electric, and its 60% owned unit, Elmecon Multikencana, will have a 15% stake each in the new company, while Elvo will have a 70% stake.

RHB Starts Tai Sin Electric at Buy with SG$0.75 Price Target