TSH upbeat on growth prospects
PETALING JAYA: TSH Resources Bhd is maintaining a positive outlook on its growth prospects, despite external headwinds.
In a filing with Bursa Malaysia, the plantations firm said its prospects will be supported by strong cash flow and a solid balance sheet with a net cash position as of the first quarter of 2025 (1Q25) ended March 31.
In 1Q25, TSH's net profit more than doubled to RM48.19mil from RM20.07mil due to higher profit contributions from the palm products segment and associate, as well as lower share of losses in joint ventures and lower finance costs.
Revenue in 1Q25 grew to RM275.33mil from RM242.39mil a year earlier, due to increased revenue from both palm products and its 'others' segments by RM30.6mil and RM2.3mil respectively. It noted that crude palm oil prices have declined by over 20% since the start of 2Q25, currently at around RM3,800 per tonne.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
an hour ago
- Free Malaysia Today
Foreign investors pull RM6.21bil from Asian markets
MIDF Amanah Investment Bank Bhd said foreign net selling on Bursa Malaysia eased to RM387.4 million. (AP pic) PETALING JAYA : Foreign investors extended their net selling in Asian markets for a third consecutive week, recording an outflow of RM6.21 billion (US$1.47 billion), significantly higher than the previous week's outflow of US$170.8 million (RM723.47 million). MIDF Amanah Investment Bank Bhd's fund flow report for the week ended June 6, 2025, reported that only South Korea and the Philippines registered net foreign inflows, while all other countries saw net outflows. South Korea led the region with a strong net inflow of US$1.80 billion (RM7.62 billion), extending its foreign buying streak to two weeks, despite weak macroeconomic data showing its gross domestic product (GDP) growth flat on a year-on-year basis in the first quarter of 2025 (Q1 2025) and a 0.2% quarter-on-quarter contraction. The economic downturn follows political instability earlier this year, including the imposition of martial law and the impeachment of former President Yoon Suk Yeol. 'Newly inaugurated President Lee Jae-myung wasted no time in rolling out a US$22 billion (RM93.18 billion) emergency stimulus plan to address the economic malaise. 'Lee's administration, backed by a strong parliamentary majority, is also racing to install a full cabinet while navigating legal probes into Yoon's conduct, and the president has pledged swift fiscal intervention to aid households and jumpstart growth, which the Bank of Korea has revised down to 0.8% for 2025,' the report said. Meanwhile, MIDF Amanah noted that the Philippines recorded the second-highest inflow of US$9.8 million (RM41.50 million), reversing three consecutive weeks of foreign outflows. Regarding outflows, Taiwan posted the largest net outflow in the region at US$1.72 billion (RM7.28 billion), marking its third straight week of foreign selling. MIDF Amanah opined that geopolitical tensions remained elevated as Taiwan accused China of conducting 'highly provocative' joint combat readiness patrols involving 21 military aircraft and warships, and the continued escalation has put foreign investors on edge despite Taiwan's strategic dominance in the semiconductor sector. It stated that India reversed into a net outflow territory of US$1.02 billion (RM4.32 billion), ending its single-week streak of foreign buying. 'The Reserve Bank of India surprised markets with a 50-basis-point rate cut to 5.5%, citing subdued inflation and the need to support growth amid escalating US trade barriers,' it said. Indonesia experienced a net outflow of US$288.4 million (RM1.22 billion), ending its three-week streak of inflows. MIDF Amanah said the country's weak Q1 2025 GDP growth of 4.87% prompted the government to roll out a US$1.5 billion (RM6.35 billion) stimulus package targeting tourism, social aid and cash transfers. 'Vietnam posted a fourth straight week of foreign withdrawals with US$80.4 million (RM340.61 million) in outflows. 'During a US visit, Vietnam signed US$3 billion (RM12.70 billion) worth of memoranda of understanding for agrifood imports, seeking to rebalance trade and nudge the US toward reducing tariffs. 'Thailand posted the smallest net outflow at US$72.7 million (RM307.97 million), extending its foreign selling streak to three weeks. 'The government unveiled a US$405 million (RM1.72 billion) tourism stimulus package aimed at reviving visitor arrivals, particularly from China,' it added. On the domestic front, MIDF said foreign net selling on Bursa Malaysia eased to RM387.4 million, smaller than the previous week's outflow of RM1.02 billion. Foreign investors were net sellers on every trading day, with outflows ranging from RM5.4 million to RM162.83 million, with the largest outflow recorded on Wednesday at RM162.8 million, followed by Tuesday at RM121.2 million. MIDF said the top three sectors recording the highest net foreign inflows were telecommunications and media (RM16.4 million), technology (RM16.2 million) and property (RM8 million). 'The top three sectors that recorded the highest net foreign outflows were financial services (RM193.1 million), healthcare (RM130.9 million) and plantation (RM40.4 million),' it said. Local institutions continued their buying activities, with net inflows amounting to RM444.6 million, while local retailers reversed their two-week buying streak, recording an outflow of RM57.3 million. MIDF added that the average daily trading volume experienced a broad-based decline last week, with local institutions and local retailers seeing decreases of 8.1% and 15.8%, respectively, while foreign investors saw a plunge of 29.1%.
New Straits Times
2 hours ago
- New Straits Times
PT Resources calls for trading halt, announces new coconut processing facility in China
KUALA LUMPUR: Trading of ACE Market-listed PT Resources Holdings Bhd (PTRB) shares was halted for one hour today, from 9.00 am to 10.00 am, following the announcement of a new coconut processing facility in China. In a separate filing with Bursa Malaysia, PTRB stated that the facility will be established under its wholly-owned subsidiary, Fujian HJS International Holdings Co Ltd. The facility is located in the China-Indonesia Food Industrial Park in Fuqing City, Fujian Province, China. PTRB, which is primarily involved in the processing and trading of frozen seafood, as well as the trading of meat and non-meat products, is now expanding its food processing capabilities to include coconut-based products. The group is investing approximately RM17 million (RMB29 million) in the new facility, with the investment fully funded through internally generated funds. PTRB managing director Heng Chang Hooi said the company is actively exploring business-to-business collaborations with Chinese distributors and manufacturers. He said these include opportunities for private-label production and original equipment manufacturer (OEM) services as part of its localisation strategy. "We also aim to leverage Fujian's export infrastructure to access ASEAN markets and will participate in trade exhibitions such as the China Food and Drinks Fair," he said. Trial production at the coconut processing facility is currently underway, with commercial operations expected to commence by mid-June 2025. As of 10.47 am, PTRB shares were trading flat at 33 sen, with 10,000 shares changing hands.
The Star
2 hours ago
- The Star
FBM KLCI edges up at midday amid cautious market sentiment
KUALA LUMPUR: Bursa Malaysia ended the morning session on a firmer note, with the FBM KLCI edging higher amid cautious market sentiment and lingering external headwinds. At the lunch break, the benchmark FBM KLCI rose 3.37 points, or 0.22%, to 1,520.16, after touching an intraday high of 1,521.64. There were 437 gainers, 370 losers and 425 counters traded unchanged on the Bursa Malaysia. Turnover stood at 1.68 billion shares valued at RM888.4mil. TA Securities said immediate resistance for the FBM KLCI remained at 1,564, with stronger hurdles at the recent high of 1,586 and then 1,610. Immediate support is at 1,490, with firmer support at 1,465 and 1,444. 'As for stock picks this week, key gaming, banking, construction, and technology heavyweights and lower liners such as Genting, Genting Malaysia, Maybank, Public Bank, MRCB, WCT Holdings, Globetronics, and Inari should again attract bargain hunters looking for potential recovery at current oversold levels,' it added. Meanwhile, Hong Leong Investment Bank Research said the FBM KLCI may continue to trend sideways with a slight upward bias, supported by last week's constructive call between Trump and Xi and the commencement of the second round of US-China trade talks in London today. That said, it noted that broader market sentiment remained cautious amid ongoing foreign outflows, uncertainty over the US-Malaysia tariff deal, and June's historically weak seasonality. 'Concerns are further amplified by a weakening global trade environment, ongoing macroeconomic headwinds, the Trump administration's unpredictable trade stance, and the potential for domestic subsidy rationalisation in 2H25 — all of which may cloud Malaysia's growth and earnings outlook,' it said. On Bursa Malaysia, Malaysian Pacific Industries led the gainers, climbing 70 sen to RM20.90. Ayer rose 36 sen to RM7.60, Chin Tek added 30 sen to RM9.10 and F&N climbed 26 sen to RM27.64. Meanwhile, the top decliner was Nestle, which lost RM2.48 to RM74.64. PETRONAS Dagangan fell 36 sen to RM20.64, LPI Capital eased 26 sen to RM14.64 and United Plantations gave up 22 sen to RM21.42. Hartanah Kenyalang saw active trading on its ACE Market debut, with 16.67 million shares changing hands as the stock eased 0.5 sen to 15.5 sen.
