Tai Sin Electric Second Quarter Financial Results

The share price of Tai Sin Electric fell to S$0.40 after the company released a set of poor results. Despite increasing copper prices, it is heartening to know the company posted a revenue increase in the Cable & Wire business segment although gross profit margin was lower. This segment makes up the largest percentage of the company revenue.

Overall, the company cash and cash equivalent decreased to $19.74 million compared to $22.08 million at the end of the last period. This is a 10.6% decrease in cash flow. In summary, the company suffers from higher administrative expenses such as staff costs, foreign exchange loss (weaker US dollar against Singapore dollar) and higher advertising and marketing expenses in Vietnam. Read More

Seventy Four Percent Invested, Twenty Six Percent Cash

My cash holdings versus total amount invested fell from 28% in December 2017 to 26% in current month February 2018. I attributed the decrease in cash as I invested S$3K into the Ethereum mining rig that I have self build last month ( My Sweet Retirement Builds A Cryptocurrency Mining Rig ).

In the month of January 2018, I contributed S$500 to my SRS account. This is inline with the goal that I have set for myself in the year 2018. I tell myself I have to be discipline and not top up my SRS only at the end of the year. The purpose is to reduce the income tax I have to pay in 2019. Today, I read in the news that we can soon use our SRS to purchase Singapore Savings Bond. I am not sure if that will actualize but I am looking forward to it. Read More