Tai Sin Electric Limited is an investment holding company which engages in manufacturing electrical cables & wires and switchboards; distribution of industrial electrical materials and provision of testing & inspection services. We highlight 3 key points about Tai Sin Electric for potential dividend investors. Consistent profitability with prudent debt management Tai Sin’s has demonstrated highly consistent profitability in the last 3 years. ROA has increased from 9.5% in FY12 to 10.7% in FY14. While ROE decreased marginally from 15.9% to 15.4% for the corresponding period, the decrease is merely a mechanical implication of lower financial leverage, and not a reflection of lower profitability. Management has been consistently paring down borrowings – debt to equity has declined from 0.32x in FY12 to 0.17x in FY14. Overall, we believe this to be indicative of a highly stable business, helmed by prudent management. Stable earnings record bolstered ......