PETALING JAYA: TSH Resources Bhd
will seek strategic opportunities within the green/ sustainable segment to complement its long term shareholder value enhancement initiatives.
In a statement, the plantation company said it will progressively develop its unplanted land bank over the next few years.
For the first quarter ended March 31, 2024, (1Q24) TSH’s core pre-tax profit improved 13% to RM34.8mil compared with RM30.8mil in 1Q23, brought about by lower fertiliSer prices and reduction in losses from joint ventures.
Revenue in 1Q24 dipped slightly to RM242.4mil compared with 1Q23, due to inclement weather in parts of Indonesia adversely affecting fresh fruit bunches yield and partially offset by a marginal increase in crude palm oil price.
“TSH’s financial position continues to strengthen with group net assets per share and net gearing improving further to RM1.50 and 0.01 times as at March 31, 2024,” the company said.
