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TSH Resources surges to record high on RM150m deal
by Cals Mon 09 Dec 2013, 13:48
Published: Monday December 9, 2013 MYT 10:36:00 AM
Updated: Monday December 9, 2013 MYT 10:38:37 AM
TSH Resources surges to record high on RM150m deal
KUALA LUMPUR: TSH Resources Bhd’s share price surged to its all-time high of RM3.04 on Monday as analysts raised their target price for the plantations company which embarked on a RM150mil plantation purchase.
At 10.17am, it was up four sen to RM2.98. There were 945,200 shares traded at prices ranging from RM2.98 to RM3.04.
The FBM KLCI was up 9.76 points to 1,836.71. Turnover was 323.10 million shares valued at RM237.98mil. There were 297 gainers, 152 losers and 242 counters unchanged.
Last Friday, TSH announced it had entered into a share sale agreement to buy 300,000 shares, representing 60% of the issued and paid-up share capital in Sg Kalabakan Estate Sdn. Bhd for RM150mil and assumption of liabilities of not more than RM30mil from Ratus Awansari Sdn Bhd.
Todate, Sg Kalabakan Estate has planted a total of 2,979 ha with 23,815 ha of the total land area of 26,794 hectares available for future planting in Kalabakan, Sabah.
TSH said based on the audited financial statements as at Dec 31, 2012, Sg Kalabakan Estate has assets comprising mainly fixed assets and plantation development expenditure totaling RM41.2mil and payables totaling RM41.3mil with shareholders’ fund of RM35,531.
RHB Research said it was positive on the acquisition as it is a fairly sizeable estate at a location near Tawau. It maintained its Neutral call, with its fair value unchanged at RM2.89, pending a revision in its crude palm oil price assumption.
Hwang DBS Vickers Research was more upbeat on TSH’s acquisition. It nudged up its discounted cashflow derived target price to RM3.60 after incorporating the acquisition of SKE, which will boost its long-term prospect.
“We continue to like TSH for its strong growth prospect with 3-year earnings CAGR of 24% over FY12-15F,” it said.
Updated: Monday December 9, 2013 MYT 10:38:37 AM
TSH Resources surges to record high on RM150m deal
KUALA LUMPUR: TSH Resources Bhd’s share price surged to its all-time high of RM3.04 on Monday as analysts raised their target price for the plantations company which embarked on a RM150mil plantation purchase.
At 10.17am, it was up four sen to RM2.98. There were 945,200 shares traded at prices ranging from RM2.98 to RM3.04.
The FBM KLCI was up 9.76 points to 1,836.71. Turnover was 323.10 million shares valued at RM237.98mil. There were 297 gainers, 152 losers and 242 counters unchanged.
Last Friday, TSH announced it had entered into a share sale agreement to buy 300,000 shares, representing 60% of the issued and paid-up share capital in Sg Kalabakan Estate Sdn. Bhd for RM150mil and assumption of liabilities of not more than RM30mil from Ratus Awansari Sdn Bhd.
Todate, Sg Kalabakan Estate has planted a total of 2,979 ha with 23,815 ha of the total land area of 26,794 hectares available for future planting in Kalabakan, Sabah.
TSH said based on the audited financial statements as at Dec 31, 2012, Sg Kalabakan Estate has assets comprising mainly fixed assets and plantation development expenditure totaling RM41.2mil and payables totaling RM41.3mil with shareholders’ fund of RM35,531.
RHB Research said it was positive on the acquisition as it is a fairly sizeable estate at a location near Tawau. It maintained its Neutral call, with its fair value unchanged at RM2.89, pending a revision in its crude palm oil price assumption.
Hwang DBS Vickers Research was more upbeat on TSH’s acquisition. It nudged up its discounted cashflow derived target price to RM3.60 after incorporating the acquisition of SKE, which will boost its long-term prospect.
“We continue to like TSH for its strong growth prospect with 3-year earnings CAGR of 24% over FY12-15F,” it said.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
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Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
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Re: TSH Resources surges to record high on RM150m deal
by Cals Mon 09 Dec 2013, 13:58
hehe technicals and fundaments match made in heaven
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
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