Tashin Holding Reports Strong Surge in Profits in Q1 of 2021
TashinThe Star

Tashin Holding Reports Strong Surge in Profits in Q1 of 2021

Local media reported that Malaysian Tashin Holdings Bhd’s net profit for its first quarter ended March 31, 2021 surged 16 fold to MYR 12.23 million from

Local media reported that Malaysian Tashin Holdings Bhd’s net profit for its first quarter ended March 31, 2021 surged 16 fold to MYR 12.23 million from MYR 724,000 reported in the same quarter of the previous year on higher demand for its steel products and selling price. Revenue for the period improved to MYR 95.22 million, a 55.2% gain from MYR 61.35 million reported previously. Tashin Holdings Managing Director Mr Lim Choon Teik said “The strong performance was attributed to its slit coils & steel sheets as well as manufactured products such as steel pipes, flat and square bars, expanded metals and checkered plates. Tashin experienced improved sales for its steel products and profit margin during Q1 of 2021 as the economy saw a gradual return to normalisation while business sentiments improved after one year of the Covid-19 pandemic.”

He added “Barring unforeseen circumstances, the board is cautiously optimistic its prospects for the coming quarter would remain positive and satisfactory due to higher demand in the steel processing segment and steel pipes and increased sales order from the automotive segment. However, there is a shortage of certain types of steel material such as cold-rolled materials, which may cause an interruption in the supply chain and pose a challenge to Tashin's operations.”

Penang Malaysia based Tashin Holdings Berhad is principally an investment holding company with subsidiary companies mainly engaged in the steel related sector encompassing both manufacturing and trading activities. Holding company of Tashin Holdings Berhad, Tashin Steel Sdn Bhd’s principal activities are processing of steel mother coils into Slit Coils and Sheets, trading and manufacturing of Steel Pipes, Expanded Metals and C Purlins. Tashin Hardware Sdn Bhd is manufacturing Flat and Square Bars, Checkered Plates. In additions to manufactured products, Tashin Hardware is a stockist of square and rectangular hollow sections, window pipes, heavy section flat bars and plates, checkered plates, furniture pipes, black & GI pipes and channels & angle bars

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