SGX:500

Stock Analysis Report

Executive Summary

Tai Sin Electric Limited, together with its subsidiaries, designs, develops, manufactures, and trades in cable and wire products.

Snowflake

Fundamentals

Flawless balance sheet average dividend payer.

Share Price & News

How has Tai Sin Electric's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.5%

500

1.4%

SG Electrical

-0.02%

SG Market


1 Year Return

-9.3%

500

8.5%

SG Electrical

0.6%

SG Market

Return vs Industry: 500 underperformed the SG Electrical industry which returned 8.5% over the past year.

Return vs Market: 500 underperformed the SG Market which returned 0.6% over the past year.


Shareholder returns

500IndustryMarket
7 Day1.5%1.4%-0.02%
30 Day3.0%0.4%-1.6%
90 Day4.6%0.4%-7.3%
1 Year-3.5%-9.3%10.3%8.5%4.6%0.6%
3 Year5.7%-11.7%-7.0%-16.2%15.1%2.8%
5 Year20.3%-11.7%-42.0%-48.7%10.0%-8.3%

Price Volatility Vs. Market

How volatile is Tai Sin Electric's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Tai Sin Electric undervalued compared to its fair value and its price relative to the market?

12.64x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: 500 (SGD0.34) is trading above our estimate of fair value (SGD0.28)

Significantly Undervalued: 500 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 500 is good value based on its PE Ratio (12.6x) compared to the Electrical industry average (20.4x).

PE vs Market: 500 is good value based on its PE Ratio (12.6x) compared to the SG market (13.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate 500's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 500 is overvalued based on its PB Ratio (0.9x) compared to the SG Electrical industry average (0.6x).


Next Steps

Future Growth

How is Tai Sin Electric forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

2.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 500's forecast earnings growth (2.4% per year) is above the savings rate (2.3%).

Earnings vs Market: 500's earnings (2.4% per year) are forecast to grow slower than the SG market (5.6% per year).

High Growth Earnings: 500's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if 500's revenue is forecast to grow faster than the SG market.

High Growth Revenue: Insufficient data to determine if 500's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if 500's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Tai Sin Electric performed over the past 5 years?

-9.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 500's earnings have declined by -9.1% per year over the past 5 years.

Accelerating Growth: 500's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 500 had negative earnings growth (-24%) over the past year, making it difficult to compare to the Electrical industry average (9.1%).


Return on Equity

High ROE: 500's Return on Equity (6.8%) is considered low.


Return on Assets

ROA vs Industry: 500 has a higher Return on Assets than the Electrical industry average last year.


Return on Capital Employed

ROCE Improving: 500's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Tai Sin Electric's financial position?


Financial Position Analysis

Short Term Liabilities: 500's short term assets (SGD183.4M) exceeds its short term liabilities (SGD57.9M)

Long Term Liabilities: 500's short term assets (183.4M) exceeds its long term liabilities (1.8M)


Debt to Equity History and Analysis

Debt Level: 500's debt to equity ratio (14.5%) is considered satisfactory

Reducing Debt: 500's debt to equity ratio has reduced from 17.3% to 14.5% over the past 5 years.

Debt Coverage: 500's debt is well covered by operating cash flow (46.3%).

Interest Coverage: 500's interest payments on its debt are well covered by EBIT (13.1x coverage).


Balance Sheet

Inventory Level: 500 has a high level of physical assets or inventory.

Debt Coverage by Assets: 500's debt is covered by short term assets (assets are 7.160360x debt).


Next Steps

Dividend

What is Tai Sin Electric's current dividend yield, its reliability and sustainability?

6.62%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Tai Sin Electric before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company6.6%marketbottom25%2.6%markettop25%5.7%industryaverage1.7%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: 500's dividend (6.62%) is higher than the bottom 25% of dividend payers in the SG market (2.55%).

High Dividend: 500's dividend (6.62%) is in the top 25% of dividend payers in the SG market (5.71%)

Stable Dividend: 500's dividend payments have been volatile in the past 10 years.

Growing Dividend: 500's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (83.6%), 500's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Tai Sin Electric's salary, the management and board of directors tenure and is there insider trading?

5.8yrs

Average management tenure


CEO

Bernard Lim (49yo)

6.3yrs

Tenure

S$823,000

Compensation

Mr. Boon Hock Lim, also known as Bernard, has been the Chief Executive Officer of Tai Sin Electric Limited since July 1, 2013. Mr. Lim served as the Chief Operating Officer of Tai Sin Electric Cables Manuf ...


CEO Compensation Analysis

Compensation vs. Market: Bernard's total compensation ($USD603.02K) is about average for companies of similar size in the SG market ($USD260.26K).

Compensation vs Earnings: Bernard's compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.8yrs

Average Tenure

49yo

Average Age

Experienced Management: 500's management team is seasoned and experienced (5.8 years average tenure).


Board Age and Tenure

4.3yrs

Average Tenure

70yo

Average Age

Experienced Board: 500's board of directors are considered experienced (4.3 years average tenure).


Insider Trading

Insider Buying: 500 insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyS$9,75001 Oct 19
Boon Hock Lim
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares30,000
Max PriceS$0.33
BuyS$6,50030 Sep 19
Boon Hock Lim
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares20,000
Max PriceS$0.33
BuyS$61823 Sep 19
Boon Hock Lim
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares1,900
Max PriceS$0.33
BuyS$20,47523 Sep 19
Boon Hock Lim
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares63,000
Max PriceS$0.32
BuyS$1,95212 Sep 19
Boon Hock Lim
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares6,100
Max PriceS$0.32
BuyS$122,57103 Sep 19
Boon Hock Lim
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares382,200
Max PriceS$0.32
BuyS$84,43503 Sep 19
Boon Hock Lim
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares259,800
Max PriceS$0.33
BuyS$324,20321 May 19
Boon Hock Lim
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares997,548
Max PriceS$0.33
BuyS$102,46523 Nov 18
Boon Hock Lim
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares310,500
Max PriceS$0.33
BuyS$7,58322 Nov 18
Boon Hock Lim
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares23,000
Max PriceS$0.33

Ownership Breakdown


Management Team

  • Shou Chieh Tan

    Secretary

    • Tenure: 0yrs
  • Bernard Lim (49yo)

    CEO & Executive Director

    • Tenure: 6.3yrs
    • Compensation: S$823.00k
  • Chen Mou Lin

    General Manager

    • Tenure: 0yrs
  • Wee Ong

    Chief Executive Officer of Lim Kim Hai Electric Co (S) Pte Ltd

    • Tenure: 6.3yrs
  • John Vale

    Chief Executive Officer of Vynco Industries (NZ) Limited

    • Tenure: 0yrs
  • Tony Ng

    General Manager of PKS Sdn Bhd

    • Tenure: 0yrs
  • Sharon Lim (65yo)

    Chief Information Officer

    • Tenure: 5.3yrs
  • Eng Lim

    Chief Executive Officer of CAST Laboratories Pte Ltd

    • Tenure: 0yrs
  • Yong Hwa Tan (42yo)

    Chief Financial Officer

    • Tenure: 3.3yrs
  • Johnston Teo

    VP & Head of Sales

    • Tenure: 0yrs

Board Members

  • Bernard Lim (49yo)

    CEO & Executive Director

    • Tenure: 6.3yrs
    • Compensation: S$823.00k
  • Bobby Lim (73yo)

    Non-independent Non-executive Chairman

    • Tenure: 0.9yrs
    • Compensation: S$73.00k
  • Michael Chang

    Executive Director of PKS Sdn Bhd

    • Tenure: 0yrs
    • Compensation: S$8.00k
  • Boon Siong Soon (70yo)

    Lead Independent Director

    • Tenure: 0.9yrs
    • Compensation: S$63.00k
  • Fang Wen Lee (58yo)

    Non-Executive & Independent Director

    • Tenure: 4.3yrs
    • Compensation: S$62.00k
  • Ah Chia (76yo)

    Deputy Chairman of Lim Kim Hai Electric Co (S) Pte Ltd

    • Tenure: 6.8yrs
    • Compensation: S$177.97k
  • Louis Lim (73yo)

    Chairman of Lim Kim Hai Electric Co (S) Pte Ltd

    • Tenure: 11.3yrs
    • Compensation: S$176.27k
  • Victor Tian

    Executive Director of CAST Laboratories Pte Ltd

    • Tenure: 0yrs
  • Renny Kiang (69yo)

    Non-Executive & Independent Director

    • Tenure: 1.3yrs

Company Information

Tai Sin Electric Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tai Sin Electric Limited
  • Ticker: 500
  • Exchange: SGX
  • Founded: 1980
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Market Cap: S$150.742m
  • Shares outstanding: 443.36m
  • Website: https://www.taisinelectric.com

Number of Employees


Location

  • Tai Sin Electric Limited
  • 24 Gul Crescent
  • Jurong Town
  • Singapore
  • 629531
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
500SGX (Singapore Exchange)YesOrdinary SharesSGSGDApr 1998

Biography

Tai Sin Electric Limited, together with its subsidiaries, designs, develops, manufactures, and trades in cable and wire products. The company’s Cable & Wire segment provides power, control, instrumentation ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 12:33
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.