The cash generated will enable the TSH Group to pare down its existing borrowings. As at Dec 31,2019, the net borrowings of the TSH Group were approximately RM1.31bil and net gearing was 0.83 times.
KUALA LUMPUR: TSH Resources Bhd
expects to generate cash of RM517.62mil from the sale of two companies with estates in Kalimantan, to Kuala Lumpur Kepong Bhd’s indirect unit Taiko Plantations Pte Ltd (TPPL).
TSH units TSH Global Plantation Pte Ltd (TGP) and TSH Oversea Pte Ltd (TO) had yesterday entered into conditional sale and purchase agreements with Taiko Plantations to dispose of their 90% stake each in PT Farinda Bersaudara (FB) and PT Teguh Swakarsa Sejahtera (TSS).
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