Climate Change Data

Tai Sin Electric Limited

Climate Impact & Sustainability Data (2018, 2022-07 to 2023-06)

Reporting Period: 2018

Environmental Metrics

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • Upgrading existing facility by adopting Industry 4.0 and IoT towards smart manufacturing to achieve higher efficiency.
  • Adopting ISO14001 for all manufacturing facilities and setting up an Environment Management System to reduce energy consumption and waste production.

Social Achievements

  • Compliance with bizSAFE standards in all local operations.
  • Investment in training and development of employees.
  • Participation in Yellow Ribbon Run, Lim Kim Hai Electric Charity Golf, “A Very Special Walk” for Autism, and “Breakfast with Love” @ Radin Mas.

Governance Achievements

  • Establishment of various committees to maintain transparency, accountability, and integrity.

Climate Goals & Targets

Long-term Goals:
  • Increase average training hours per employee to 18 hours.
Medium-term Goals:
  • Reduce absentee rate percentage to below 7%.
Short-term Goals:
  • Zero cases of non-compliance with environmental law and regulations.
  • Improve new employee hire and turnover rate.

Environmental Challenges

  • Slower market conditions, fewer new projects in construction and infrastructure sectors, geopolitical and trade tensions, higher costs, fiercer pricing competition, volatility of copper prices, fluctuation of foreign exchange rates, stagnant business pie and intense competition.
  • Pricing pressures from stiff competition, downturn in construction industry, project delays.
Mitigation Strategies
  • Diversification and expansion, strategic partnerships, improving operational efficiencies, increasing productivity, attracting, retaining and retraining talent, innovation and technology, digitization, skills development programs, cost control and financial discipline, prudent pricing.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 9001, ISO 14001, OHSAS 18001, BizSafe Star

Reporting Period: 2022-07 to 2023-06

Environmental Metrics

Total Carbon Emissions:3207 tCO2e/year (Scope 1 and 2, Singapore operations)
Scope 1 Emissions:820.63 tCO2e/year (Singapore operations)
Scope 2 Emissions:2386.52 tCO2e/year (Singapore operations)
Total Energy Consumption:32,225 GJ/year (Singapore operations)
Water Consumption:18.37 ML/year (Singapore operations)

ESG Focus Areas

  • Our Environmental Efforts
  • Our People
  • Governance and Economic Performance

Environmental Achievements

  • Three sites in Singapore achieved ISO 14001 certification (Tai Sin Electric Limited, Tai Sin Power Distribution Pte Ltd and CAST Laboratories Pte Ltd)
  • In FY2023, total energy consumption from Singapore operations amounted to 32,225 GJ. The company plans to move away from internal combustion engine vans in the future.

Social Achievements

  • Employees attended an average of 39 hours of training in FY2023 (above the target of 18 hours).
  • Two entities in Singapore achieved ISO 45001 Occupational Health and Safety Management System (Tai Sin Electric Limited and CAST Laboratories Pte Ltd).

Governance Achievements

  • No incidents of corruption or anti-competitive behavior were reported in FY2023.
  • The Board comprises 17% female and 83% male.

Climate Goals & Targets

Medium-term Goals:
  • Achieve an average of 40 hours of training per employee in FY2024.
  • Actively measure and monitor water consumption in FY2024 and aim to set reduction targets.
Short-term Goals:
  • Improve employee retention rate in FY2024.
  • Aim for zero recordable work-related injuries in FY2024.
  • Actively measure and monitor energy consumption and GHG emissions in FY2024 and aim to set reduction targets.

Environmental Challenges

  • Higher reversal of provision for onerous contracts in FY2022 and continued deliveries of low-margin projects in FY2023.
  • Rising cost pressures and manpower constraints in a highly competitive market.
  • Lower business volumes for non-destructive testing and heat treatment services in the region.
  • Two entities did not complete the Ministry of Manpower’s mandatory Safety Time Out Checklist by the required date and were penalized.
Mitigation Strategies
  • Strengthening core capabilities through innovation and strategic expansion.
  • Pivoting resources to clinch and execute sustainability-related infrastructure projects.
  • Enlarging the T&I segment’s footprint in Malaysia and Indonesia.
  • Reinforced safety protocols with all logistics personnel.

Climate-Related Risks & Opportunities

Opportunities
  • Business opportunities arising from the continued growth of the electric vehicle ecosystem and the demand for data centers.

Reporting Standards

Frameworks Used: GRI Standards, TCFD recommendations

Certifications: ISO 14001, ISO 45001, bizSAFE Star