Tai Sin Electric Limited (SGX:500) entered into a sale and purchase agreement to acquire Nishiden (Malaysia) Sdn. Bhd. for SGD 1.4 million on August 2, 2021. Tai Sin Electric signed an Addendum Agreement to acquire Nishiden (Malaysia) Sdn. Bhd. for SGD 0.9 million on March 30, 2022. The purchase consideration will be satisfied in cash and financed by Tai Sin's internal funds. Nishiden for the year ended December 31, 2020, showing a loss of SGD 280035.3 and net asset value of SGD 858229.08. Among the conditions precedent for completion of the SPA on March 1, 2022 (or such other date as the Parties may agree) is the requirement for Nishiden to have successfully renewed the tenure of two existing tenancy agreements for two adjacent properties used by Nishiden until June 30, 2024 on the same terms and conditions comprised in the existing tenancy agreements. Tai Sin will update shareholders of the outcome by making an appropriate announcement after March 31, 2022. Completion of the transaction has been extended to July 1, 2022. The acquisition of Nishiden is not expected to have any material effect on the earnings per share and net tangible assets per share of the Tai Sin Group in the financial year ending June 30, 2023.

Tai Sin Electric Limited (SGX:500) completed the acquisition of Nishiden (Malaysia) Sdn Bhd for SGD 870,000 on July 1, 2022