Highlights
KLSE: TSH (9059)       TSH RESOURCES BHD MAIN : Plantations
Last Price Today's Change   Day's Range   Trading Volume
0.96   -0.01 (1.03%)  0.955 - 0.98  4,046,500
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Overview

Market Cap: 1,327 Million
NOSH: 1,382 Million
Avg Volume (4 weeks):3,288,065
4 Weeks Range:0.925 - 1.02
4 Weeks Price Volatility (%):
36.84%
52 Weeks Range:0.56 - 1.59
52 Weeks Price Volatility (%):
38.83%
Average Price Target: 1.10
Price Target Upside/Downside: +0.14

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2020 [#2]  |  19-Aug-2020
Next QR | Est. Ann. Date: 30-Sep-2020  |  25-Nov-2020
T4Q P/E | EY: 28.52  |  3.51%
T4Q DY | Payout %: 1.04%  |  29.67%
T4Q NAPS | P/NAPS: 1.0813  |  0.89
T4Q NP Margin | ROE: 6.10%  |  3.11%

Headlines

Date Subject
13-Oct-2020 Plantation - Marginally Higher Stockpile
08-Oct-2020 Trading Stocks - TSH Resources
05-Oct-2020 借棕油价“东风”·陈顺风顺势高飞
25-Sep-2020 Plantations - A Better 2H
21-Sep-2020 【行家论股/视频】陈顺风 棕油价高激励业绩
21-Sep-2020 Traders Brief - Potential 3Q Window Dressing Activities To Cushion Further Fall
21-Sep-2020 Plantation - More Corporate Actions in the Pipeline?
14-Sep-2020 Stocks on Radar - TSH Resources (9059)
14-Sep-2020 Plantation - What's Ahead as China, India Reduce Import Dependency
11-Sep-2020 Plantation - Marginally Higher Stockpile
11-Sep-2020 MPOB Monthly Statistics August 2020 - August Production Increased 3.1% to 1.86m tonnes
10-Sep-2020 TSH Resources - Lower Net Gearing in FY21F
27-Aug-2020 TSH Resources - Disposals 90% Stake in Indonesian Company
27-Aug-2020 TSH Resources- Monetising Indonesian Landbank
27-Aug-2020 Mplus Market Pulse - Signs of rebound
27-Aug-2020 TSH Resources Berhad - Estate Sales to Reduce Borrowings
27-Aug-2020 TSH Resources - Sells Oil Palm Estates in East Kalimantan to KLK
25-Aug-2020 Traders Brief - Range Bound Trading To Prevail As We Enter The Peack Of Aug Reporting Season
25-Aug-2020 Traders Brief - Range Bound Trading To Prevail As We Enter The Peak Of Aug Reporting Season
21-Aug-2020 【行家论股/视频】陈顺风 股价上涨空间有限

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.
 
Investorrr https://www.theedgemarkets.com/article/tsh-resources-may-be-staging-rebound-says-rhb-retail-research
08/10/2020 12:17 PM
power88 "Look out for a La Nina-induced price rally from January 2021 with soyoil leading the way," said Dorab Mistry, director of Indian consumer goods company Godrej International.

Vegetable oil prices next year should be higher due to improved demand and tighter supply of soft oils such as soyoil and sunflower oil, Mistry said.

Thomas Mielke, the executive director of Oil World, forecast Indonesian crude palm oil price in January-June 2021 would rise to US$700 a tonne.

Malaysia's benchmark crude palm oil contract has slumped about 7% so far this year, to RM2,888 (US$695.90) a tonne on Thursday, as the COVID-19 pandemic hurt demand.

Losses were pared by a recent rally in edible oil prices due to stockpiling by top buyer China for food security measures.

The rally in sunflower oil due to a lower crop has also been making soyoil and palm oil attractive to price sensitive buyers.

China's stocking policy is expected to continue with fund buying and, combined with problems in Argentina's soybean crushing, could further increase palm prices, Mielke said.

"If consumer buying plus funds buying (come together), it is possible that we temporarily reach RM3,200," he said.

Argentina's soy crushing volume is set to drop around 9.5% this year, as growers in the world's top exporter of processed soymeal and soyoil hoard beans due to unfavourable prices and taxes.
09/10/2020 7:31 AM
Investorrr cpo 3000 now
09/10/2020 9:38 AM
ShareNews HOLD...will reward you soon
09/10/2020 10:06 AM
Investorrr consolidation and based building is over ..waiting for suitable time to stage a meaningful up trend..as the 3rd art result is super good
09/10/2020 3:02 PM
Investorrr late next week....
09/10/2020 3:04 PM
Investorrr average cop price for 3rdqrt is around 2700
09/10/2020 3:18 PM
Investorrr market TP consensus is 1.10..1.20.

1.31..1.40
09/10/2020 3:24 PM
Investorrr 3qrt net profit anticipate to be around 30 mill plus minus
09/10/2020 3:25 PM
Investorrr if 4thqrt cop price even higher..TP could be even higher above 1.5
09/10/2020 3:27 PM
Investorrr tsh core is Upstream palm oil production
09/10/2020 3:28 PM
Investorrr https://www.freemalaysiatoday.com/category/nation/2020/10/08/festive-food-craving-set-to-boost-indian-demand-for-palm-oil/
09/10/2020 4:25 PM
power88 soybean break high...cpo 3000 soon...tsh 0.98 cheap ...
09/10/2020 4:33 PM
Investorrr https://www.thestar.com.my/business/business-news/2020/10/09/cpo-futures-rally-to-two-week-high-of-rm2936
09/10/2020 4:34 PM
power88 previous cpo 3000, tsh 1.15..
09/10/2020 4:37 PM
Investorrr wow 4thqrt net profit going to be very solid as now cpo already trading btw 2900 - 3000
09/10/2020 4:38 PM
Investorrr crude oil price up,la nina around the corner,high soy price,india great festival around the corner,stock pile down for 2 giant purchaser india and china to support cpo price rally in 4th qrt
09/10/2020 4:50 PM
Investorrr great closing at 0.985 upper trend line now
09/10/2020 4:51 PM
Investorrr trend reversal to up after the second deep on 2nd october
09/10/2020 4:56 PM
Investorrr late next week..
09/10/2020 4:58 PM
Investorrr trading at 20x PE is cheap compared to downstream core Simeplantation which trading at sky high PE of 54x..and simeplt up by 0.11
09/10/2020 5:22 PM
Mabel CPO Prices for March to May was Between RM2,100 to RM2,300

From June to August CPO prices have gone up to between RM2,400 and RM2,600

SO IT IS BENEFITTING FROM CPO PRICE SURGE (AND TODAY CPO TOUCHES RM3,000 (OCTOBER 9th 2020)

Meow Meow Meow
09/10/2020 7:26 PM
johoran At 3pm, CPO for third month delivery was up RM48 to RM2,936 per tonne, the highest since Sept 22.

KUALA LUMPUR: Crude palm oil futures advanced to the highest level in more than two weeks, buoyed by a recovery in demand from top buyers India and China, which may reduce global stockpiles.

Prices advanced for a fifth day and have climbed almost 8% this week.

At 3pm, CPO for third month delivery was up RM48 to RM2,936 per tonne, the highest since Sept 22.

Futures are also supported by dry weather in Brazil, which threatens the soybean crop and is bolstering prices of rival soybean oil.

“Sentiment has been underpinned by good demand and prospects of higher exports to China and India, ” said Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari Intercontinental. Weather concerns in Brazil are adding to this, he said.

India’s palm oil imports are seen rising to 8.85 million tons in 2020-21 from 8 million tons a year earlier, Thomas Mielke, chief executive officer of Oil World, said in an online seminar Thursday.

Palm oil prices will depend entirely on the performance of Indonesia’s biodiesel mandate to blend 30% of palm-biofuel with 70% diesel, known as B30, according to veteran analyst Dorab Mistry, a director at Godrej International.

Palm’s premium over gasoil has surged in recent months, making mandatory biodiesel programmes much more expensive to run.- Bloomberg
09/10/2020 9:27 PM
Investorrr https://www.theedgemarkets.com/article/malaysias-oct-110-palm-oil-exports-rise-133-%E2%80%94-amspec-agri
10/10/2020 8:43 PM
johoran KUALA LUMPUR (Oct 10): Exports of Malaysian palm oil products for Oct 1-10 rose 13.3% to 535,552 tonnes from the 472,780 tonnes shipped during Sept 1-10, according to independent inspection company AmSpec Agri Malaysia on Saturday.
11/10/2020 11:05 AM
johoran KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade higher next week, buoyed by expectations of stronger demand from India ahead of the Deepavali festival.

Singapore-based Palm Oil Analytics’ owner and co-founder Dr Sathia Varqa said the Festival of Lights, to be celebrated on Nov 14, would boost Indian demand for the golden crop in the near term.

"Traders also anticipate weaker production due to the rainy season which could contribute to the reduction of stockpiles in the country.

"Furthermore, they would also be waiting for the Malaysia Palm Oil Board’s (MPOB) report to be released on Monday,” he told Bernama.

On a Friday-to-Friday basis, the CPO futures contract for October 2020 rose RM174 to RM3,020 per tonne, November 2020 jumped RM201 to RM2,967 per tonne, December 2020 strengthened RM203 to RM2,911 per tonne, and January 2021 climbed RM191 to RM2,865 per tonne.

Weekly volume down to 241,460 lots from 318,816 lots in the previous week, while open interest surged to 258,490 contracts from 245,116 contracts.

On the physical market, October South stood at RM3,010 per tonne. - Bernama
11/10/2020 11:06 AM
daretocutandchange looking for low pe oilpalm stocks? bumitama 48.5cts(p8z.sg) half year eps 2.3cts.sg , sarawak plantation and km loong.after ta ann took over the management of sarawak plantation,the efficiency increase dramatically to boost up net margin.ioi is one of the substantial shareholder of bumitama with 32.039%,total planted areas 187,679ha which 132,578ha nucleus and 55,101 plasma.the average age is 10.6years.must be patient.........
11/10/2020 12:34 PM
kenken85 https://www.theedgemarkets.com/article/china-buy-17-million-tonnes-palm-oil-malaysia-until-2023-says-hishammuddin
13/10/2020 8:27 PM
keni371 https://www.bloomberg.com/news/articles/2020-10-14/a-just-in-case-world-is-rushing-to-hoard-food-as-prices-rally?srnd=premium-asia
14/10/2020 10:51 PM
bc8660 CPO price rally definitely beneficial to good plantation stocks counter the full recovery of the stock price can be anticipated and next coming quarter should see full-wings for most plantation-related companies with a stellar quarter result.
16/10/2020 11:56 AM
Investorrr average cop price is 2753 per ton from july to september,and anticipated 2500 to 3000 per ton (average 2750 per ton) from Oct to december.3qrt and 4qrt combined net profit should be around 70 million.plus 1st art profit 2.26mil and 2nd qrt net profit 19.8mil.total net profit should be around rm92 million against tsh capital issued..it Eps should be 6.7 sen.based on 24x 2021 , before the 4qrt result out..price could be around rm1.6
(TSH upstream production of 21tons /hector of TSH 4500 hector of palm oil planted area)
16/10/2020 9:36 PM
Investorrr ...above net profit of 92 million is excluding tsh coco ,rubber plantation and wood furniture production.and palm downstream production
16/10/2020 9:46 PM
Investorrr political uncertainty could hv already priced ,market should be looking forward bigger and global vaccine good news..whole of 2021 should be a steady bull ahead.
17/10/2020 11:36 AM
Investorrr TSH deep and based building already over
TSh is coming.
17/10/2020 11:41 AM
alfred All edible oils should be treated equally in terms of sustainability without bias against palm oil, asserts the Malaysian Palm Oil Council (MPOC).
17/10/2020 1:26 PM
alfred Its chief executive officer Datuk Dr Kalyana Sundram contends that soy, sunflower and canola are so far behind in proving their sustainability, there is little chance that they can catch up to palm oil in time to meet the proposed legislations in the European Union (EU) and the United Kingdom (UK).
He acknowledged that the EU and UK were looking to reduce deforestation in imports.
17/10/2020 4:42 PM
ShareNews HOLD...can collect then collect now
20/10/2020 11:01 AM
LuckyG Press down then delist at 1.10????
20/10/2020 12:11 PM
Anonymous9898 if fcpo drops, tsh will not go up even the profit is good?
20/10/2020 12:11 PM
johoran 吉隆坡20日讯)均衡雨量料为油棕带来丰收,《油世界》预测,全球最大棕油生产国印尼明年产量料增长300万公吨,第二大生产国的大马则增产30万公吨。

该家德国汉堡期刊首席执行员托马斯密尔指出,虽然豪雨短暂延缓印尼的收成,然而适度的潮湿有助明、后年(2022年)增产。

托马斯密尔在大华继显线上研讨会上表示,大马缺乏工人将造成产量减低。

他指出,因疫情而导致食用油消耗减少的现象,料在未来几个月有复苏态势,从而巩固棕油、大豆等食用油的价格。

“一般相信,明年油脂价格将受支撑。”

大马衍生产品交易所的指标1月棕油期货今日止跌回弹,截至下午5时报2829令吉,上涨53令吉。

密尔预测大马今年棕油产量介于1950万至1960万公吨之间,比2019年的1986万公吨低。

第四季全球产量料增50万至60万公吨之间,主要由印尼增产贡献;这也使得未来几个月的棕油库存增加,冲击近期棕油价格。

密尔指出,棕油出口未来一年将恢复至260万公吨左右,相比截至今年9月出口挫跌。

他披露,很多棕油出口需求源自印度;至于其他国家,明年移情别恋至爱上葵花油。

马精炼棕油价仍低估

密尔说,大马的精炼棕油(Olein)价格仍受低估,今年1至6月平均价格预估为每公吨730美元,相比大豆油每公吨820至830美元之间。

他预期,干旱气候导致葵花油的供应出现逆转,全球出口衰竭可能导致买家转向其他食用油,支援其他油脂价格的上扬。

低油价也使棕油作为生物柴油的吸引力减低,目前的问题是生物柴油政策是否继续推行。

密尔预期印尼生物柴油产量,从2019年的748万公吨,跌至今年的720万公吨。
20/10/2020 10:57 PM
johoran Prices of vegetable oil including CPO to take cue from soybean — Oil World CEO
TheEdge Tue, Oct 20, 2020 04:20pm - 6 hours ago


KUALA LUMPUR (Oct 20): Oil World editor and chief executive officer (CEO) Thomas Mielke has told analysts that prices of vegetable oil including crude palm oil (CPO) are expected to be impacted by higher prices of soybean until the first half of 2021 (1H21) after taking into account delayed planting of soybean in Brazil and the lack of selling interest of the commodity by Argentina.

UOB Kay Hian analysts Leow Huey Chuen and Jacquelyn Yow, who spoke to Mielke at an online seminar yesterday, wrote in a note today that Mielke, however, highlighted that his views might change if rain arrived earlier in Brazil, Argentinian farmers kicked off soybean sales, and that China cut its soybean imports in view of elevated prices.

CPO and soybean oil are substitutes for each other, hence, prices of these commodities have been observed to move in tandem with each other based on their supply and demand dynamics.

"South American soybean production to set tone for global oilseeds and vegoil prices until 1H21. Given the expected disruption to Brazil's soybean production and lack of selling interest from Argentinian farmers, soybean prices in 1H21 are likely to trade higher. On top of that, other competing oilseeds, ie sunflower and rapeseed, have also reported sharp production declines due to the dry weather. If the weather in Brazil remains dry over the next few months, soybean production from Brazil could lose another 6m-8m tonnes," the UOB Kay Hian analysts wrote.

"This will enhance the bullish movement for soybean prices and have a spillover effect on soymeal and other vegetable oil prices. Mr Mielke expects average soybean oil and palm olein prices to average ~US$820/tonne and ~US$730/tonne in January-June 2021 respectively.

"After factoring in better rainfall and some yield recovery from the lack of fertiliser application in 2H18 and 2019, global palm oil production in 2021 is expected to increase by 3.8m tonnes yoy (Indonesia: +3.0m tonnes; Malaysia: +0.3m tonnes). Global palm oil consumption is expected to increase by 1.6m tonnes yoy — factoring in a partial demand recovery from the Covid-19 impact. Having said that, the stock-to-usage ratio for palm oil in 2021 is expected to be flat yoy because the inventory carried forward from end-20 is expected to be lower compared to that from end-19," they said.

UOB Kay Hian maintains its market weight recommendation on the regional plantation sector despite the possibility of better CPO selling prices in the short to medium term compared to the research firm's current assumptions, according to the analysts.

"We maintain our CPO price assumptions of RM2,400/tonne and RM2,350/tonne for 2020 and 2021 respectively.

"Plantation stocks (share prices) might not react to the surge in CPO prices. This is because higher CPO prices do not translate into higher earnings. The earnings should factor in erosion from higher operational costs, sustainability costs and additional taxes as prices move on the uptrend," they said.

On Bursa Malaysia today, CPO for November 2020 traded RM64 higher at RM2,952 a tonne at 3.55pm while prices for December 2020 CPO rose RM75 to RM2,900.

Translate
20/10/2020 10:58 PM
johoran Malaysia's Oct 1-20 palm oil exports rise 4.3% m-o-m — AmSpec Agri
TheEdge Tue, Oct 20, 2020 02:07pm - 8 hours ago


KUALA LUMPUR (Oct 20): Exports of Malaysian palm oil products for Oct 1-20 rose 4.3% to 1,084,701 tonnes from 1,040,085 tonnes shipped during Sept 1-20, according to independent inspection company AmSpec Agri Malaysia on Tuesday.
20/10/2020 11:00 PM
ShareNews current price due market sentiment issues...
21/10/2020 3:26 PM
johoran Soybean break high..1077 usd
21/10/2020 10:14 PM
johoran sep soybean 1040 level cpo = 3100
oct soybean 1070 level cpo =3200
today cpo will up again..hopefully can break 3100
22/10/2020 7:51 AM
Jonathan Keung Sleeping beauty. Still deep sleep
22/10/2020 3:06 PM
LuckyG operator press hard lah ..... almost all palm oil counter ... this operator very big and strong .
22/10/2020 3:53 PM
LuckyG Suspend then delist lol.i guess only
22/10/2020 11:47 PM
johoran Soybean break new high 1087... huhu
24/10/2020 7:07 AM
Investorrr from October price for CPO..looks like ranging btw 2900+t to 3050..good news
most of TSH palm oil land located in kalimantan
hopefully.cpo price could break 3100 onwards.in view of good price soy bean la nina..depavalli festival
china keep buying palm oil.but down stream production oil price would not been so positive especially biodiesel in iew of lock down many part of cities in the world.
that would affect the crude oil price.
25/10/2020 12:18 PM


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