TSH rating upgraded following sale plan termination

PETALING JAYA: TSH Resources Bhd has been upgraded to a “buy” following the termination of an earlier proposal to sell a 90% stake in its two Indonesian plantation companies to Kuala Lumpur Kepong Bhd (KLK).

RHB Research, which is positive on the termination in the short term, said TSH will be able to capitalise on the crude palm oil (CPO) price increase as well as the short-term recovery in production growth.