Latest news with #RM20.07mil
The Star
20-05-2025
- Business
- The Star
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.
The Star
20-05-2025
- Business
- The Star
TSH remains optimistic on its 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, mainly 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. The company noted that crude palm oil (CPO) prices have declined by over 20% since the start of 2Q25, currently hovering around RM3,800 per tonne. 'This downturn is largely driven by increased production in Malaysia and Indonesia, aided by favorable weather. 'Moreover, a surge in global supply of alternative oils—particularly soybean oil from the US and Brazil - alongside newly imposed US tariffs and ongoing US-China trade tensions, has further weighed on CPO price outlook.'
