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NewsTSH Resources fair value revised to RM3.81
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TSH Resources fair value revised to RM3.81
by hlk Mon 22 Aug 2011, 17:20
OSK Research Sdn Bhd has maintained its "buy" call on TSH Resources Bhd with a revised fair value of RM3.81.
In a research note today, OSK said TSH has one of the youngest tree age profiles and strongest production growth among Malaysian companies.
OSK said it has also lifted fresh fruit bunches (FFB) production forecast for TSH, which accordingly raised its financial years (FY) 2011 and 2012 earnings estimates to RM110.2 million and RM104.4 million respectively from RM107.7 million and RM102.4 million previously.
"Some 64 per cent of TSH's first-half FY11 FFB production came from its Indonesian estates. The Indonesian operation remains its key growth driver, with FFB soaring by 79.2 per cent in first half FY11," it said. -- Bernama
In a research note today, OSK said TSH has one of the youngest tree age profiles and strongest production growth among Malaysian companies.
OSK said it has also lifted fresh fruit bunches (FFB) production forecast for TSH, which accordingly raised its financial years (FY) 2011 and 2012 earnings estimates to RM110.2 million and RM104.4 million respectively from RM107.7 million and RM102.4 million previously.
"Some 64 per cent of TSH's first-half FY11 FFB production came from its Indonesian estates. The Indonesian operation remains its key growth driver, with FFB soaring by 79.2 per cent in first half FY11," it said. -- Bernama
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