Highlights
KLSE: TSH (9059)       TSH RESOURCES BHD MAIN : Plantations
Last Price Today's Change   Day's Range   Trading Volume
1.09   -0.04 (3.54%)  1.09 - 1.13  2,364,000
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Overview

Market Cap: 1,506 Million
NOSH: 1,382 Million
Avg Volume (4 weeks):3,994,816
4 Weeks Range:1.03 - 1.27
4 Weeks Price Volatility (%):
25.00%
52 Weeks Range:0.80 - 1.29
52 Weeks Price Volatility (%):
59.18%
Average Price Target: 1.28
Price Target Upside/Downside: +0.19

Financial Highlight

Latest Quarter | Ann. Date 31-Mar-2021 [#1]  |  19-May-2021
Next QR | Est. Ann. Date: 30-Jun-2021  |  19-Aug-2021
T4Q P/E | EY: 15.43  |  6.48%
T4Q DY | Payout %: 1.38%  |  21.21%
T4Q NAPS | P/NAPS: 1.0631  |  1.03
T4Q NP Margin | ROE: 13.64%  |  6.65%

Headlines

Date Subject
03-Jun-2021 Plantations - 1Q21 Earnings review: Impressive performance
26-May-2021 TSH Resources - Boosted by Higher Palm Product Prices
20-May-2021 TSH Resources - Within expectations
20-May-2021 TSH Resources - A Good Start
20-May-2021 PublicInvest Research Headlines - 20 May 2021
20-May-2021 TSH Resources Berhad - Unable to Fully Enjoy High CPO Prices
20-May-2021 Mplus Market Pulse - 20 May 2021
20-May-2021 TSH Resources - Boosted by Higher Palm Product Prices
20-May-2021 TSH Resources - Hit by Indonesia’s CPO export tax and levy
19-May-2021 ESG和印尼高税率冲击 种植股购兴缺缺
08-May-2021 陈顺风上挑RM1.31/敏源
23-Apr-2021 Trading Stocks - TSH Resources
25-Mar-2021 MY LAGGARD PLANTATION STOCK READY TO SKYROCKET!!!
18-Mar-2021 Daily technical highlights – (TCS, TSH)
17-Mar-2021 Trading Stocks - TSH Resources
26-Feb-2021 PublicInvest Research Headlines - 26 Feb 2021
26-Feb-2021 TSH Resources - Finishing on High Note
26-Feb-2021 Mplus Market Pulse - 26 Feb 2021
26-Feb-2021 TSH Resources - Net gearing falls to 78.9%
26-Feb-2021 TSH Resources - Boosted by Higher Palm Product Prices

Business Background

TSH Resources Bhd owns oil palm plantations, mills, and forest areas in Southeast Asia. Crude palm oil and palm kernel are extracted from the oil palm plantations. The products are transferred to a mill and processed into ready-to-sell products. Additionally, one branch of the business focuses on generating and supplying electricity from a biomass plant. The forest areas are cultivated to manufacture and trade wood products. Reforestation becomes an integral part of the process to safeguard against shortages. Furthermore, the company will manufacture, sell, and trade cocoa products. Its processing facility primarily produces cocoa butter.
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  4 people like this.
 
Ong8888 Palm Products Segment
This segment reported lower revenue of RM220.1 million (from both Continuing and
Discontinued Operations) for Q1 2021, compared to RM221.8 million for Q1 2020.
This is mainly due to lower CPO and PK sold partially offset by higher higher average CPO
and PK prices. Average price of CPO for Q1 2021 was RM3,010 per MT (Q1
2020:RM2,599 per MT) and average PK price was RM2,113 per MT (Q1 2020:RM1,480
per MT). As for FFB production, the Group achieved 228,188 MT in Q1 2021 compared
with 207,727 MT for Q1 2020.
_______________________________________

Why CPO and PK sold is lower but FFB production increased?
20/05/2021 2:08 PM
greenland Perhaps they sold forward too early. Its unfortunate. It is just unacceptable.
20/05/2021 2:16 PM
greenland On one hand, they sold too low, on the other hand, the indonesian authorities set the levy based on the month’s CPO prices.
20/05/2021 2:18 PM
greenland Compared to KLK which also has substantial Indonesian acreage.. KLK has hit record profits for 1st Qtr.
20/05/2021 2:19 PM
Up_down TSH operation is much dependent on Indonesia segment . The companies won't be able to profit much during the CPO price rally for the operation in Indonesia due to heavy tax and export duty.

TSH planation area in AR 2020:

Mature areas :
4,522 ha (Sabah)
24,380 ha (Indonesia)

Immature areas:
1,653 ha (sabah)
901 hac (Indonesia)
20/05/2021 2:24 PM
Up_down Extracted from PublicInvest :

Not all players will fully benefit from the CPO price gains. Despite stronger CPO prices, not all players will enjoy the full benefit of CPO price rally as upstream plantation players in Indonesia are subject to hefty CPO export duty (USD144/mt) and CPO excise levy (USD255/mt), there would be huge income losses for them as they are only able to recognize a net CPO price of RM3,000/mt based on the current spot level of RM4,700/mt). This is significantly lower compared to Malaysia’s RM4,324/mt (after netting of 8% CPO export tax). Only players with refinery plants would be able to capture the full market price of CPO given the hedging nature.
20/05/2021 2:28 PM
Ong8888 Average price of CPO for Q1 2021 was RM3,010 per MT (Q1 2020:RM2,599 per MT) --- Increase 16%

Average PK price was RM2,113 per MT (Q1 2020:RM1,480 per MT) --- Increase 43%

As for FFB production, the Group achieved 228,188 MT in Q1 2021 compared with 207,727 MT for Q1 2020. --- Increase 10%

This segment reported lower revenue of RM220.1 million (from both Continuing and Discontinued Operations) for Q1 2021, compared to RM221.8 million for Q1 2020. --- No increase in revenue.

Average price increased and production increased but no increase in revenue. That means lower volume of CPO and PK sold. Will this be recognised in the coming quarter?
20/05/2021 3:34 PM
greenland No. The higher volume this quarter would have been sold in earlier months. All we can hope is that the April-June quarter will give us higher average selling prices.
20/05/2021 3:55 PM
Ong8888 You mean higher FFB volume? How to sell in earlier months when the fruit is not there yet? Swt..
20/05/2021 4:08 PM
greenland This is called selling forward and all commodity companies do that.
20/05/2021 5:28 PM
Ong8888 Forward contract does not work that way. You fix the future price and you only recognize the sales when you actually deliver the product. It means, you cannot sell it earlier.. you just fix the price now and then you sell it later when the time comes at the price you have fixed..
20/05/2021 6:01 PM
greenland Yes.. so if the sales was done in Oct 2020 for a Jan 2021 contract but the price in January shoots up, you can pnly recognise the sales as what was contracted in Oct 2020.. BUT the indonesian levy mechanism recognise the CPO price at time of shipment..!
20/05/2021 6:51 PM
vtroopsvin Tomorrow will again going south ? Or a possible correction for technical rebound
20/05/2021 10:31 PM
taihai EPF sell sell sell dont buy . old man showwwww
20/05/2021 10:38 PM
calvintaneng TSH (9059) TSH now stands for "TELLING SECRET HAPPPILY" What Secrets? Lots of hidden potential, Calvin Tan Research

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-05-21-story-h1565177714-TSH_9059_TSH_now_stands_for_TELLING_SECRET_HAPPPILY_What_Secrets_Lots_o.jsp
21/05/2021 1:48 AM
Navigation7 https://www.spglobal.com/platts/en/market-insights/latest-news/agriculture/052021-palm-oil-buying-interest-slows-as-trade-awaits-indonesia-export-levy-decision-sources

According to trade sources, a $100/mt cut in the export levy has been proposed and may be announced in the coming weeks. However, there is no official announcement yet.
21/05/2021 6:50 AM
Plantermen you can lock in the forward sales in March with any buyer at a contracted fixed price { 3 months ahead } to be deliver in eg. April, May & June. The sales are only taken up or recognised in your books after the shipment is delivered. But the price is already contracted or fixed in March. But the export duty levy is based on the actual date of shipment to be deliver in April, May and June respectively. Now lies the danger. In a uptrend market your contracted price in March is lower compared to the average export price in eg. If April, May or June. You will be paying a much higher tax but your sales price is substantially lower. In Indonesia trading are tough. Is a volume game, if your Mill is stand alone without any volume. You are squeeze by the buyer in terms of pricing { lack of tank space} but you ends up paying higher tax on the export but a lower sales price
21/05/2021 8:16 AM
taihai mr Tan already old. no big hope . a few cents ????
21/05/2021 8:59 AM
calvintaneng Tsh also got 105 million shares of innoprise

Fong siling (cold eye) also got 4.3 million innoprise shares

So there is alot of value in TSH
21/05/2021 9:25 AM
calvintaneng contracted price cannot be too long

when expired they will raise prices and follow real time market value

So old news are old news

The investing landscape change all the time
21/05/2021 9:26 AM
danny123 Dont get con by speculator
21/05/2021 9:42 AM
Jonathan Keung Cold eye { Fong } entry cost at a higher price
21/05/2021 10:31 AM
taihai haha . cold eye also old old
21/05/2021 11:00 AM
calvintaneng What to do when others are SO FEARFUL?

See

https://www.google.com/search?safe=active&sxsrf=ALeKk01JBJz2GpiQyopmAkx-ds1RpIjImw:1621570350780&source=univ&tbm=isch&q=be+greedy+when+others+are+fearful&sa=X&ved=2ahUKEwiH3fGl9NnwAhXCYysKHe0MCX4QjJkEegQIAhAB&biw=1248&bih=628
21/05/2021 12:13 PM
Jonathan Keung Fear of MCO total lockdown cause market jitters
21/05/2021 2:08 PM
danny123 Want to con people say futute today green green

Dont get con by him, conman

Future down 100+ today
21/05/2021 7:57 PM
calvintaneng Hahaha no con

Future was green earlier

In any case CPO still above Rm4000 will be excellent

See this

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-05-21-story-h1565183390-101_THE_VETERAN_PALM_OIL_STOCK_PROFIT_UP_A_WHOPPING_401_300_BLASTING_UP.jsp
21/05/2021 10:18 PM
greenland In comparison, IOI has substantial acreage in Indonesia as well but profitability is fantastic. It has very good management and market savvy traders on its team.
TSH needs to manage better
22/05/2021 6:08 AM
calvintaneng IOI result amplified by Sale of refinery to unlock Cash Value

ThPlant also selling 5 Palm oil Estates in Sarawak to Raise Cash

TSH sold 2 Estates in Indonesia to KLK. Cash will come in this quarter
22/05/2021 1:22 PM
calvintaneng IOI fantastic result was powered up by Refinery sale

TSH said by this Qtr sale of 2 Palm Oil estates to KLK will bring in Rm39 million profits which equal to 2.84 sen

Latest profit was 1.51 sen

So for August 2021 result we already can "SEE"

2.84 sen or an increase of 1.33 sen (88% increase) from 1.51 sen

That is not including its

Sale of FFB, CPO & PKC

Ecowood profits from high lumber prices

Cocoa price rise

So watch for the better months ahead
22/05/2021 1:47 PM
danny123 When conman ask u to buy, u sell better
22/05/2021 3:34 PM
taihai few cents old man .......
22/05/2021 9:01 PM
wahd Read report , this Q12021 export levy
23/05/2021 4:18 PM
Toppick2019 https://klse.i3investor.com/m/blog/Momentum/2021-05-23-story-h1565207470-3_major_beneficiaries_of_high_CPO_price.jsp
23/05/2021 9:12 PM
calvintaneng MCO 3 no problem as TSH palm oil estates all in Indonesia

Palm oil levy no problem as Wilmar, Goldenagri & other Indonesian Palm Oil shares listed in Jakarta all good
23/05/2021 10:20 PM
calvintaneng TSH OWNS INNO

TSH WILL BENEFIT FROM BOTH HIGH CPO PRICE & LUMBER PRICE
23/05/2021 10:29 PM
greenland https://www.agricensus.com/Article/Indonesia-raises-May-s-palm-oil-export-tax-by-22-mom-levy-unchanged-16386.html
24/05/2021 10:45 AM
greenland Calvintaneng.. can you please enlighten us? Are we in for another dissappointing quarter ended June?
24/05/2021 10:46 AM
Navigation7 https://tv9news.com/agriculture/indonesia-steps-on-the-pedal-to-export-more-palm-oil-to-india-30949.html

"....The Indonesian authorities have plans to slash the export levy by $100 per tonne. The export levy is actually to fund the bio-diesel programme in the archipelagic republic. No formal announcement has been made but it is being said that could happen by the last week of May 2021...."
"Publish Date - 9:32 pm, Fri, 21 May 21"
24/05/2021 12:41 PM
taihai old man .... drop 12 c up 2c
24/05/2021 9:54 PM
calvintaneng TODAY ANOTHER GREAT SIGNAL FROM INSIDER BOSS

HE WALLOPED 700,000 SHARES OF TSH RESOURCES (HIGHEST SO FAR. SHOW HIGH CONFIDENCE)

TAN AIK PEN 24-May-2021 Acquired 700,000 - View Detail

TAN AIK PEN 21-May-2021 Acquired 250,000 - View Detail
TAN AIK PEN 20-May-2021 Acquired 550,000 - View Detail
TAN AIK PEN 14-Apr-2021 Acquired 400,000 - View Detail
TAN AIK PEN 13-Apr-2021 Acquired 400,000 - View Detail
TAN AIK PEN 12-Apr-2021 Acquired 500,000 - View Detail
TAN AIK PEN 09-Apr-2021 Acquired 300,000 - View Detail
TAN AIK PEN 08-Apr-2021 Acquired 200,000 - View Detail
TAN AIK PEN 07-Apr-2021 Acquired 200,000 - View Detail
TAN AIK PEN 06-Apr-2021 Acquired 250,000 - View Detail
TAN AIK PEN 05-Apr-2021 Acquired 200,000 - View Detail
TAN AIK PEN 02-Apr-2021 Acquired 300,000 - View Detail
TAN AIK PEN 01-Apr-2021 Acquired 300,000 - View Detail
TAN AIK PEN 31-Mar-2021 Acquired 150,000 - View Detail
TAN AIK PEN 30-Mar-2021 Acquired 300,000 - View Detail
TAN AIK PEN 29-Mar-2021 Acquired 350,000 - View Detail
TAN AIK PEN 26-Mar-2021 Acquired 350,000 - View Detail
TAN AIK PEN 25-Mar-2021 Acquired 350,000 - View Detail
TAN AIK PEN 24-Mar-2021 Acquired 350,000 - View Detail
TAN AIK PEN 23-Mar-2021 Acquired 350,000 - View Detail
TAN AIK PEN 22-Mar-2021 Acquired 350,000 - View Detail
TAN AIK PEN 19-Mar-2021 Acquired 200,000 - View Detail
TAN AIK PEN 18-Mar-2021 Acquired 200,000 - View Detail
TAN AIK PEN 17-Mar-2021 Acquired 300,000
25/05/2021 12:28 AM
danny123 Dont get Con by him
25/05/2021 7:26 PM
calvintaneng TAANN FANTASTIC RESULT OUT

TSH BOSS JUST ADDED ANOTHER 500,000 SHARES YESTERDAY

WHY?

BECAUSE HE KNOWS AUG 2021 RESULT FOR TSH WILL BE FANTASTIC


VERY LONG TERM STRUCTURAL POSITIVE FOR PALM OIL: GLOBAL SHIFT TO BIODISEL IS THE GAME CHANGER, Calvin Tan Research

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-05-26-story-h1565245763-VERY_LONG_TERM_STRUCTURAL_POSITIVE_FOR_PALM_OIL_GLOBAL_SHIFT_TO_BIODISE.jsp
26/05/2021 8:51 AM
Bgt 9963 Good morning.....!
26/05/2021 9:10 AM
qetuoadgjl96 Listen to Mr Calvin Tan will go to holland. His machine gun simply spray sure one counter will kena the rest all missed.
28/05/2021 4:40 PM
danny123 Dont get Con by carvin
When he ask to buy, u sell
28/05/2021 7:25 PM
calvintaneng Tsh all palm oil estates are in Indonesia

No need 60% worker restriction

Insiders kept up accumulating
30/05/2021 9:28 PM
calvintaneng ALL OIL PALM ESTATES OF TSH ARE LOCATED IN INDONESIA

ALL SPORE PALM OIL SHARES WILMAR, BUMITAMA & GOLDENAGRI GOT OIL PALM IN INDONESIA

IF THEY DO WELL THEN TSH SHOULD ALSO DO WELL

THE SELL DOWN OF TSH NOW IS A GREAT BUY

JUST LOAD UP ON TSH

WAHAHA! TODAY ALL CALVIN'S S'PORE PALM OIL SHARES ARE GREEN (UP) WHILE MSIA RED. TIME TO BUY MSIA PALM OIL SHARES

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-05-31-story-h1565958854-WAHAHA_TODAY_ALL_CALVIN_S_S_PORE_PALM_OIL_SHARES_ARE_GREEN_UP_WHILE_MSI.jsp
31/05/2021 10:08 AM
taihai due with old man ???
31/05/2021 9:59 PM
calvintaneng IJMPLANT UP

LATER TSH WILL FOLLOW

TSH LIKE IJM PLANT HAS PALM OIL IN KALIMANTAN & SUMATRA

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-06-10-story-h1566136509-BANG_BANG_BANG_PALM_OIL_BULL_RUN_HAS_STARTED_THE_FIRST_SALVO_FIRED_BY_I.jsp

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-06-10-story-h1566136509-BANG_BANG_BANG_PALM_OIL_BULL_RUN_HAS_STARTED_THE_FIRST_SALVO_FIRED_BY_I.jsp
10/06/2021 12:33 AM


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