Commodities
Tai Sin Electric Struggles with Rising Copper Costs
Tai Sin Electric's FY2026 results showed a significant drop in profit before tax despite a 24.2% increase in revenue to S$597.2 million.
The company attributed the decline to higher copper costs squeezing existing contracts, which resulted in onerous-contract provisions of S$23.1 million.
Copper prices are expected to ease from around US$14,400 per tonne to an FY2027 average of US$12,800, according to CGS International, which could allow partial provision reversals.
Tai Sin's growth is broader than the headline suggests, with its newly acquired Renewable Energy Solutions business in Thailand contributing S$59.8 million of revenue over eight months.