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tai sin on the move....up....next resistance 215
Tai Sin Electric
March 6 close: S$0.33
Phillip Securities Research, March 6
TAI Sin's main revenue comes from the manufacturing of
electrical cables used in the construction, infrastructure and
petrochemical industries. Being the only listed player with around 25
per cent market share, Tai Sin is expected to ride the construction
upswing with revenue and net profit expected to grow 15.3 per cent and
22.7 per cent respectively in FY2008.
Laggard beneficiary of the construction upswing: Electrical and
cabling works for a typical construction project are carried out in the
final stages, about 15-30 months after the awarding of a contract.
According to the Building and Construction Authority of Singapore
(BCA), total value of building contracts awarded grew from $11.5
billion in 2006 to $24.5 billion in 2007. We believe the inevitable
growth in demand for cabling due to this particular upswing has not yet
been fully reflected in Tai Sin's profits.
Expansion plans into the region: Due to the cyclical nature of the
construction sector, management has made a conscious effort to
diversify and broaden its earnings base beyond Singapore.
Initiate coverage with a 'buy' at a fair value of $0.52: Our
12-month target price is based on a PE of eight times forward FY08
earnings. At the current price representing only 5.1 times forward PE,
we view Tai Sin as a good opportunity for investors to ride the
construction boom in Singapore and yet be subjected to minimal downside
risk in the current volatile stock market.
BUY
Almost doubling of profit yoy for 4 years...
A real gem on Sgx.
TP 0.69.
Sleeping Star...
FY 2003 Profit after tax S$1.147 million
FY 2004 Profit after tax S$3.659 million
FY 2005 Profit after tax S$5.494 million
FY 2006 Profit after tax S$11.229 million
FY 2007 Profit after tax S$20.811 million
Now construction play...Taisin finally woken up.
What is brewing here ? What is the news? Price is rising for Tai Sin. :)
cheong ahhhhhhhhhhhhhhhhhhhhhh
Great Results!
Group revenue increased by 26.89% to $232.72 million (2006: $183.41 million). Net operating profit after
tax increased by 83.58% to $20.93 million from $11.40 million in the previous financial year.
Earnings per share rose to 7.52 cents per share in the current financial year, an increase of 67.11% from
4.50 cents in the last financial year. This is in spite of an enlarged share capital arising from the issue of
Rights Shares on 20 April 2007.
The better performance was due largely to higher revenue and profitability from the Group?s core business
activities in the cable and wire division and the electrical equipment division.
The cable and wire division posted $145.78 million in revenue, up from $104.50 million in 2006 reflecting a
39.50% increase. This division was able to reap good profits despite the volatility in copper prices during the
year as it adopts a cautious and prudent policy on hedging of copper purchases.
The electrical equipment division gains were attributable to the good economic growth in Singapore. The
expansion in building facilities by the pharmaceutical industries and electronic and wafer industries augured
well for this division.
Does anyone have a copy of recent analyst reports on Tai Sin?
Many thanks!
Property stocks have been downtrending for some time now...
So this one can hardly be expected to move bigly up soon... 
Still in coma.......
Can anyone advise on when more IR contracts will be announced? Will have impact on Tai Sin.
about time.
I agree. Its fundamentals are very strong. Year on year growth, low PEs. I think this is one of the most overlooked yet
valuable stocks with great upside. Analyst rating was 83 cents too.
It should be waking up from "coma" soon....
totally agreed with livermore
In the running for "Mr Tortoise" of the year award...
hi johnbrendon for your enlightment. i thot so too and as of now it has proven this news didn't have much impact
INCREASE OF LEGAL CAPITAL IN DIEN QUANG ? TAI SIN CABLE COMPANY
LIMITED
The Board of Directors of Tai Sin Electric Cables Manufacturer Limited ("TAI SIN")
wishes to announce that Dien Quang ? Tai Sin Cable Company Limited ("DQ-TS"), a 60%
owned Vietnam subsidiary of TAI SIN held through its wholly-owned subsidiary Tai Sin
(Vietnam) Pte. Ltd. ("TS-V") has obtainded approval from relevant Authorities in Vietnam to
increase its Legal Capital from US$1,000,000 to US$1,500,000.
The additional Legal Capital of DQ-TS has to be paid-up in cash by the joint venture parties
as follows:
(a) Tai Sin (Vietnam) Pte. Ltd. : US$300,000 (60%);
(b) Dien Quang Lamp Joint Stock Company : US$200,000 (40%).
Hi Twinkle, to me this news does not necessarily mean that Tai Sin will head north. This just means that Tai Sin and its Vietnamese partner are upping their stakes in their Joint Venture. While this may translate to the impression that business is doing well and more capital is needed to support growing operations (which I believe to be the case), we have to investigate how much legal capital was put into Vietnam in the first place to assess how this US$500,000 may be used.
hi, can anyone advise why this news will have impact?
