Brief: Tai Sin Electric Says Test & Inspection Segment In Singapore Got Nod To Operate Under Essential Services

Tai Sin Electric

05/05/2020 10:46

May 5 (Reuters) - Tai Sin Electric Ltd  TAIS.SI :
    * TEST & INSPECTION SEGMENT GOT APPROVAL TO OPERATE UNDER
ESSENTIAL SERVICES DURING CIRCUIT BREAKER PERIOD
    * CABLE & WIRE SEGMENT'S BUSINESS IN SINGAPORE OPERATIONS
CURRENTLY PERMITTED DURING CIRCUIT BREAKER PERIOD, WITH
REDUCTION IN WORKFORCE
    * ELECTRICAL MATERIAL DISTRIBUTION LEAST AFFECTED BY
RESTRICTIONS
SO FAR AS IT WAS ALLOWED TO CONTINUE OPERATIONS DURING CIRCUIT
BREAKER
    * SEES REVENUE, FINANCIAL PERFORMANCE ADVERSELY IMPACTED TO
EXTENT
RELEVANT OPERATIONS CEASED OR DIMINISHED DUE TO CIRCUIT BREAKER
PERIOD
    * C&W OPERATIONS IN MALAYSIA COMMENCED ON 27 APRIL WITH A
REDUCED
HEADCOUNT
    * UNANTICIPATED DECLINE IN COPPER PRICE WOULD GIVE RISE TO
LOSSES
ON FAIR VALUE DERIVATIVE FINANCIAL INSTRUMENTS FOR FY
    * TEST & INSPECTION SEGMENT SEVERELY AFFECTED BY MOVEMENT
CONTROL
ORDER IN MALAYSIA, SINCE 18 MARCH

Source text for Eikon:  urn:newsml:reuters.com:*:nSN39bzKR
Further company coverage:  TAIS.SI 

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