Tai Sin Electric Limited said its wholly owned subsidiary Lim Kim Hai Electric Co. (S) Pte. Ltd. and 60%-owned unit PT Elmecon Multikencana signed a shareholder framework agreement on Jun, 25 2026 with Singapore-based Elvo Energy Ltd. to set up PT Elvo Electric Indonesia.

The new company, to be incorporated in Indonesia, will focus on industrial electrical and automation product distribution as well as warehousing and supply-chain services. It will have an initial registered capital of about IDR20 billion, of which Elvo Energy will hold 70%, while Lim Kim Hai Electric and PT Elmecon will each take 15%. Tai Sin Electric’s effective interest in the venture will be 24%.

Tai Sin Electric said the investment will be funded through internal resources and is not expected to materially affect the group’s net tangible assets per share or earnings per share for the fiscal year ending Jun, 30 2026. The company added that no directors or controlling shareholders have any interest in the transaction beyond their shareholdings in the firm.

The group described the move as part of its strategy to expand its operations in Indonesia and said it will provide further updates in line with Singapore Exchange requirements.