Dear Friends of i3 Forum,

In our past post we mentioned that TSH RESOURCES has very deep value. Its Super Prime Lands in Ikn Nusantara has a book value of only 10 Sen Per Sq Feet (Cheaper than Rubbish or Old Newspapers at 20 sen per kg!)

Now we shall see how TSH creates Lots more Value from Rubbish!

How?

See this

TSH Resources’ balance sheet to stay solid

PETALING JAYA: Hong Leong Investment Bank (HLIB) Research believes that TSH Resources Bhd’s balance sheet will remain solid moving forward.

This is based on the expected proceeds from the disposal of the plantation company’s remaining 5,000ha of land in Indonesia for an estimated sum of about RM270mil, and its low capital-expenditure requirements, said the research house.

HLIB Research noted TSH has returned to a net cash position since the third quarter of 2023 (3Q23), thanks to strong crude palm oil (CPO) prices in 2022 and land disposal in FY22.

Meanwhile, TSH is also expanding its renewable energy efforts into Indonesia, by investing in four to five biogas plants over the next few years.

“We understand that construction of its first biogas plant in Indonesia (with an estimated cost of RM15mil-RM20mil) will take place by 1Q24 and be ready for commissioning one year later,” the research house added.

Read again

Meanwhile, TSH is also expanding its renewable energy efforts into Indonesia, by investing in four to five biogas plants over the next few years

Above is VALUE CREATION for shareholders

We came across this in TMakmur (Taken Private at Rm1.90)

TMakmur Management added Value to its palm oil estates by rearing cows in its estates.

We were happy to see Eastspring Investment Fund in TMakmur when it was taken private (Now we see Eastpring has bought a substantial position in TSH.)

TSH like TMakmur is seeking to ADD VALUE by Usings Its Palm Waste and turning them into Biogas.

And TSH is building 5 Biogas Plants as the Raw Material of Palm fronts,  FFB Stems & Trunks & other Palm Waste are many & also Free!

In fact they Burnt them yearly in Indonesia - causing Choking Haze for its surrounding Neighbours

SO THERE WAS A BIG PROBLEM

And then Indonesia banned burning

Any palm oil company that found to have burnt their Palm waste will be subjected to very heavy fines

KUALA LUMPUR (Aug 9): TDM Bhd’s 93.75%-owned Indonesian subsidiary has lost a legal battle to the Ministry of Environment and Forestry of Indonesia in relation to a fire incident in 2019 at its land in the West Kalimantan province.

Its subsidiary, PT Rafi Kamajaya Abadi, which TDM is in the midst of divesting its entire interest in, has been ordered by Court of Sintang to pay a compensation of IDR270.81 billion (about RM81.24 million) for the environmental loss to the National Account of Indonesia. 

The subsidiary is also ordered to rehabilitate the environment on the affected area due to the fire incident of 2,560ha and to reactivate the affected ecology system with the cost of IDR646.22 billion (approximately RM193.86 million), TDM said in a stock exchange filing on Tuesday (Aug 9).

TDM also said the Court rejected Rafi Kamajaya Abadi’s counterclaims against the Ministry of Environment and Forestry of Indonesia.  

This put FEAR in all other Palm Oil Companies in Indonesia

WHAT A RELIEF! NO MORE HAZE

Now these Palm Oil Plantations got to dispose their palm waste by other means than burning. Like sending them to landfills or bury them or decompose them. All these are troublesome tasks.

Then comes TSH RESOURCES!

All this Problem is actually a Very Good Opportunity!

What they call "Rubbish" can be turned into Biogas at 
Free Cost"!

Far better than Palm Oil Refinery turning CPO into Cooking oil or Soap. They got to pay very high price for CPO (Now as high as Rm3,900 to Rm4,000 a ton)

For TSH? Its Palm waste Feed Cost is "FREE OF CHARGE"

THIS WILL ADD TREMENDOUS VALUE TO SHARE HOLDERS AS EVERY TWO WEEKS FFB "MUST BE HARVESTED" Or they will Rot and go to waste.

AND THERE WILL BE A PERENIAL SUPPLY OF "FREE RAW MATERIAL" ALL YEAR ROUND

AND MORE THAN THAT

INDONESIA NEW CAPITAL WILL NOT USE FOSSIL FUEL BUT CLEAN GREEN ENERGY OF BIOFUEL OR BIOGAS OR EV (ELECTRIC VEHICLES) IN ITS NEW ADMIN CAPITAL OF IKN NUSANTARA

WHAT A WONDER IDEA.

IT KILLS TWO BIRDS WITH ONE STONE

For Illustration WE Quote

The Example of 

Dr Lui Che Woo of Hong Kong

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Pioneering construction materials and property development businesses[edit]

The 1950s and 1960s were an important post-war period for Hong Kong’s economic and social development, and Lui Che-woo took this opportunity to explore broader business prospects. In the early 1950s, he travelled to Okinawa, Japan, to solicit the US Army and Consulate to sell him heavy equipment left behind in Okinawa after the Korean War. This equipment included heavy goods vehicles and drilling machines, which he later shipped back to Hong Kong for infrastructure and construction work.^[5] This visionary initiative laid a crucial foundation for Lui’s future career development.

In 1955, Lui Che-woo founded K. Wah Company in Hong Kong^[6] to participate in large-scale land reclamation projects in and around Kwun Tong District, including Sau Mau Ping, Lok Fu, Lam Tin and Yau Tong. Since then, K. Wah Company has remained an undisputed leader in Hong Kong’s construction materials sector, and Lui Che-woo has become known as the “King of the Quarry” in the industry.

WHAT A BRILLIANT IDEA!

The Leftover US Army "HEAVY GOODS VEHICLES & DRILLING MACHINES" were modern & left on Okinawa Island after the War as "Waste" and no longer needed as the War was Over.

To Dr. Lui it was "TRASH" bought for a song, so to say

THESE US MADE EQUIPMENT HELPED HIM TO OUTBID ALL OTHER CONTRACTORS Using those Outdated British Imports

As he captured more and more business with "His Low Cost" of Machineries he at last became 

the King of the Quarry in the industry. Today he is among the Top Richest Tycoons of Hong Kong - with Net Worth Richer than Robert Kuok

SO THIS IDEA BY TSH BOD (Board of Directors) Making Use of "FREE PALM WASTE" to manufacture Biogas is a Brilliant Idea!

Calvin has just added more TSH Shares at Rm1.14

Rm1.14?

This is really selling at Trash Price level

We bought Bplant at 57 sen, Jaya Tiasa at 63 sen & Tsh Resources at Rm1.09 at the same time

Bplant taken private by KLK at Rm1.55

Jtiasa has gone to Rm1.10 or up 74.6%

Tsh remains a Laggard and a Great Value Bargain at Rm1.14 & not for long

With Warm Regards,

Calvin Tan

Please buy or sell after doing your own due diligence or consult your Remisier/Fund Manager

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Sustainability    |    Environment

As a plantation company, TSH works to ensure the operations are environmentally responsible, and that adequate steps are taken to protect and effectively manage risks that may adversely impact the surrounding environment. Our environment policy statement governs how we deal with greenhouse gas (GHG) emissions, waste management, and biodiversity issues. We also have a zero-burning policy for all our operations.

The Group actively recycles and manages waste, monitors and minimizes its effluents and sources of pollution. We also partner with Government agencies to protect bio-diverse and fragile ecosystems besides replanting degraded and logged-out forests.

The Group will carry out a combines High Carbon Stock (HCS) and High Conservations Value (HCV) analysis prior to any new development and committed to achieve a net-positive impact on biodiversity or mitigating any adverse consequences. We have conducted EIAs for all our Indonesian plantations and Sabah estates that were established after September 1999.

Environment Protection Policy

Green Energy and Waste Management

TSH plantation operations produce a significant amount of biomass by-products. Palm biomass such as pruned fronds, old palm trunks and treated palm oil mill effluent (POME) are recycled back to the soil as natural fertilizers.

Other forms of biomass such as fibre, shells and empty fruit bunches (EFB) are used as renewable energy sources to generate steam and electricity for mill processing. This green energy is able to sustain 98% of our mills’ energy needs.

Methane emission from the treatment of POME is a large contributor to the total operational emissions. All TSH Mill at Sabah has successfully commissioned biogas plants to capture methane gas and mitigate GHG emissions from POME.

In addition, TSH has a 12-megawatt (MWhr) biomass co-gen power plant & 3-megawatt (MWhr) Biogas engine at its Bio-Complex Plant at Tawau, Sabah that uses mesocarp fibre, palm kernel shells, EFB & methane gas from POME from its own Palm Oil Mill to satisfy almost all the steam and electricity requirements of the complex. The generated energy is connected to Sabah grid system (SESB), which is under SEDA FIT program.

DO NOT LOOK DOWN ON WASTE IF YOU CAN TURN TRASH INTO TREASURES

See this comments on

OKA selling drain pipes (Longkang)

And Muda turning sampah (paper waste into carton boxes)

Muda at 32 sen with NTA over Rm1.00. Muda was "sampah". It involves with recycle waste paper. Up 700% and split

OKA at 35 sen with NTA over Rm1.20. OKA's assets were all FREEHOLD. This one is "longkang* drain pipes. OKA up over 800% & split

Ha! Sampah & Longkang businesses made 700% to 800%? Amazing?!!

Quoted from 

https://klse.i3investor.com/web/blog/detail/www.eaglevisioninvest.com/2016-05-03-story-h54275158-WHY_NTA_NET_TANGIBLE_ASSET_IS_YOUR_MARGIN_OF_SAFETY_IN_SHARE_INVESTMENT_C

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