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13 Jun 2025
Tai Sin Flags Collection Issue on US$1.4 Million Balance from Disposal of Cambodian Subsidiary
Summary:
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Tai Sin Electric announced that the Purchaser has failed to pay the remaining US$1.4 million due for the sale of CAST Laboratories (Cambodia) Co., Ltd.
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The disposal was completed on 26 December 2024, and the payment deadline was extended multiple times, most recently to 30 May 2025.
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Despite prior mutual extensions, the Purchaser has defaulted on the agreed payment schedule.
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The unpaid amount is now formally treated by CAST Laboratories Pte Ltd (CLPL) as a collection issue.
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Management is actively pursuing recovery of the outstanding balance.