【TSH 9059 交流专区】陈顺风资源

icy97

陈顺风
下半年净利看涨

2017年8月26日

分析:安联星展研究
目标价：2.05令吉

最新进展

陈顺风（TSH，9059，主板种植股）截至6月杪次季，净利按年翻倍增长至2769万9000令吉。

营业额取得2亿5823万1000令吉，按年增21.5%。

行家建议

扣除外汇收益和非核心业务，陈顺风次季核心净利取得2510万令吉，推动首半年按年扬34%至5240万令吉，属于符合预期，因预计下半年会从低基数中显著增长。

次季鲜果串产量按年激增51%至17万6100公吨，主因是比较去年同期的低基数，印尼种植园产量复苏，及许多即将成熟。

总原棕油产量也增28%至7万1600公吨。合计首半年，鲜果串和原棕油产量，分别按年增29%和20%。

另外，次季原棕油平均售价为每公吨2656令吉，按年上涨7%，推动营业额按年增22%。

核心扣除利息与税务前盈利（EBIT）赚幅，微涨1个百分点至18.2%，归功于较高的产量，改善了效率。

尽管比较基础较高，但仍正面看待陈顺风前景，预计产量进一步改善，及更多迈向成熟。我们相信，这将提升赚幅，并推动下半年净利攀升。



【e南洋】

Tony-Pua

陈顺风第三季净利翻1.8倍
2017年11月22日
http://www.enanyang.my/news/20171122/陈顺风第三季净利翻1-8倍/

（吉隆坡22日讯）原棕油价格和鲜果串产量增加，陈顺风（TSH，9059，主板种植股）截至九月杪第三季，净利按年涨1.8倍至3069万3000令吉，或每股2.23仙。

该公司今日向交易所报备，营业额按年走高20%，报2亿5682万1000令吉。

累计九个月，净利按年扬16%，录得9234万1000令吉；营业额按年起28%至8亿355万3000令吉。

产量看涨

主席拿督陈逸槟认为，鲜果串产量比去年高，单位生产成本有望走低，对长期盈利充满信心。

“与去年相比，预计今年棕油产量依然正面，因为更多油棕树达到最佳产量，越来越多种植地迈入成熟与收成期。”

此外，陈顺风将持续改善生产力与效率，以降低单位生产成本。

9059    TSH    TSH RESOURCES BHD

Quarterly rpt on consolidated results for the financial period ended 30/09/2017

Quarter: 3rd Quarter Financial Year End: 31/12/2017 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 30/09/2017 30/09/2016 30/09/2017 30/09/2016 RM '000 RM '000 RM '000 RM '000 1 Revenue 256,821 213,259 803,553 628,005 2 Profit/Loss Before Tax 52,753 22,426 143,187 103,534 3 Profit/(loss) attributable to ordinary equity holders of the parent 30,693 11,087 92,341 79,648 4 Net Profit/Loss For The Period 38,990 13,897 109,228 86,383 5 Basic Earnings/Loss Per Shares (sen) 2.23 0.82 6.80 5.92 6 Dividend Per Share (sen) 0.00 0.00 0.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 1.1124 1.1201

icy97

油棕產量增长潜力大　陈顺风前景受看好

財经 最后更新 2017年12月26日
（吉隆坡26日讯）由於陈顺风资源（TSH，9059，主板种植股）在印尼拥有庞大的未栽种土地，加上棕油价明年走势向好，分析员看好该公司的油棕產量比马股其他中型种植公司拥有更大的增长潜力。

首次追踪陈顺风资源的达证券分析员表示，该公司的鲜果串（FFB）產量將有爆炸性成长，其油棕树的平均年龄是约8.2年。

同时，该分析员补充，陈顺风资源是整个种植业当中，拥有最低树龄园丘的公司之一。该公司的鲜果串產量在2016至2019財政年料取得13%的复合成长率（CAGR）。

与此同时，分析员指出，陈顺风资源的种植地集中在印尼，佔公司整体种植面积的94%，也是最早到印尼开发种植地的外资投资者，因而得以抢占高质量的种植地。该公司从未停止增购种植地。

此外，分析员称，陈顺风资源在栽种油棕树方面一向非常严格。

该公司目前培育的华古巴（Wakuba）油棕幼苗，据临床实验数据，可以带来每公顷种植地超过35公吨的鲜果串收成，榨油率（OER）高达26%。

印尼业务扩充计划方面，分析员分享说，陈顺风资源目前有58%的地皮还未种植油棕。

为了进一步壮大印尼种植资產，该公司在2014財政年就以4300万令吉在当地买了面积1万4000公顷的种植地。

「该公司一直在寻找新种植地，尤其是加里曼丹，以便成为一家主要区域种植业者。」

截至去年12月31日，陈顺风资源旗下未启用的种植地面积是5万7400公顷。这令该公司拥有更大的发展空间。而印尼的已栽种地段面积，佔该公司整体已栽种面积的85%。

无论如何，管理层在2016和2017財政年已经放慢栽种新树苗的步伐，以保留更多现金和降低当前的0.8倍负债率。

惟，分析员强调，由於陈顺风资源过去数年已积极地栽种新树（每年栽种3000至4000公顷），因此该公司未来2年仍可取得双位数的油棕產量增幅。

「管理层指出，该公司会在2018和2019財政年加速栽种新树苗，目標是每年栽种1000公顷。」

另一方面，分析员提到，他预计棕油价格在2018年第1季开始走高，当鲜果串產量在下半年上升之后，棕油价就会相应下滑。

「我们预测棕油价明年上半年在每公吨2800至3000令吉之间徘徊，下半年在每公吨2400至2700令吉之间游走。明年的平均棕油价是每公吨2800令吉。」

达证券给予陈顺风资源「买进」评级，目標价是2.10令吉。【东方网财经】

icy97

Date of change	09 Jan 2018
Name	MR MICHAEL WONG CHUNG HAU
Age	52
Gender	Male
Nationality	Malaysia
Type of change	Others
Designation	Chief Financial Officer
Description	Redesignation
Qualifications	Chartered Accountants-Malaysian Institute of AccountantsCPA AustraliaBachelor of Commerce (Honours) majoring in Accounting and EconomicsCorporate Finance Qualification-The Institute of Chartered Accountants in England and Wales
Working experience and occupation	Mr Michael Wong has 28 years of working experience in accounting, corporate finance, auditing, taxation and corporate advisory. Immediately prior to joining TSH Resources Berhad, he was the Chief Financial Officer of Warisan TC Holdings Berhad. Prior to that, he had also served as Director of Corporate Finance at Deloitte Corporate Advisory Services Sdn. Bhd.

Tony-Pua

陈顺风末季转盈2163万
2018年2月28日
http://www.enanyang.my/news/20180228/陈顺风末季转盈2163万/

（吉隆坡27日讯）陈顺风（TSH，9059，主板种植股）截至12月杪末季，净赚2162万6000令吉，建议派息2仙；去年同期净亏2177万4000令吉。

当季营业额扬10%，报2亿6995万4000令吉。

全年而言，净利暴涨96.9%至1亿1396万9000令吉；营业额扩大23.1%，报10亿7350万7000令吉。

陈顺风向交易所报备，当季营业额走高，归功于原棕油和棕仁价格走高。盈利增长主要源自鲜果串19%的强劲增长，以及严谨的成本控制。

该公司的鲜果串产量从59万5821公吨，扬至71万105公吨，主要归功于油棕树日趋成熟，且采收范围扩大，而前年受到埃尔尼诺气候冲击的油棕树，也已经恢复生气。

在此趋势下，该公司预计2018财年能保持鲜果串的产量，同时随着树龄成熟，产量也将随之增加。

陈顺风集团主席拿督陈逸槟有信心，2018财年的前景将持续看俏。

9059    TSH    TSH RESOURCES BHD

Quarterly rpt on consolidated results for the financial period ended 31/12/2017

Quarter: 4th Quarter Financial Year End: 31/12/2017 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 31/12/2017 31/12/2016 31/12/2017 31/12/2016 RM '000 RM '000 RM '000 RM '000 1 Revenue 269,954 244,299 1,073,507 872,304 2 Profit/Loss Before Tax 48,905 10,046 192,093 113,580 3 Profit/(loss) attributable to ordinary equity holders of the parent 21,626 (21,774) 113,969 57,875 4 Net Profit/Loss For The Period 33,319 (19,325) 142,548 67,059 5 Basic Earnings/Loss Per Shares (sen) 1.57 (1.62) 8.35 4.30 6 Dividend Per Share (sen) 2.00 0.00 2.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 1.0671 1.1201

icy97

Type	Announcement
Subject	OTHERS
Description	TSH RESOURCES BERHAD ("TSH" or "the Company")FIRST AND FINAL SINGLE TIER DIVIDEND OF 2.0 SEN PER ORDINARY SHARE FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017
The Board of Directors of TSH is pleased to propose a first and final single tier dividend of 2.0 sen per ordinary share for the financial year ended 31 December 2017. The first and final single tier dividend is subject to shareholders' approval at the forthcoming 38th Annual General Meeting of the Company to be held at a date to be determined by the Board of Directors. The announcement is dated 27 February 2018.

icy97

陈顺风
增长潜能胜同业

2018年3月1日

分析:达证券
目标价：1.97令吉

最新进展

陈顺风（TSH，9059，主板种植股）截至12月31日末季，净赚2162万6000令吉，建议派息2仙；去年同期乃净亏2177万4000令吉。

当季营业额扬10%，报2亿6995万4000令吉。

全年而言，净利暴涨96.9%至1亿1396万9000令吉；营业额扩大23.1%，报10亿7350万7000令吉。

行家建议

正面看待陈顺风长期基本面，鲜果串产量未来料增长，因为树龄分布良好。

同时，该公司产量增长的潜能比其他中型种植公司来得高。

预计今财年陈顺风的鲜果串产量达78万4500公吨，与管理层的意见一致，即按年增10%。

虽然末季核心净利按年升28%，至2140万令吉，但按季是减28%，低于预期。

全年核心净利按年涨36%至1亿150万令吉，占我们预测的86%，因为折旧开销与税率比预期高。

维持“买入”评级，但考量到折旧开销和税率走高，下调今明财年盈利预测4%及2%，目标价也减至1.97令吉。



【e南洋】

Tony-Pua

52W..........low RM1.47

icy97

Tony-Pua

rickysu 发表于 14-11-2011 08:21 PM
9059 TSH 陳順風資源 up 0.35sen

9059    TSH    TSH RESOURCES BHD

First and Final Single Tier Dividend 2 Sen

Entitlement Details: First and Final Single Tier Dividend of 2.0 sen per Ordinary Share Entitlement Type: First & Final Dividend Entitlement Date and Time: 25/05/2018  05:00 PM Year Ending/Period Ending/Ended Date: 31/12/2017 EX Date: 23/05/2018 To SCANS Date: Payment Date: 20/06/2018

icy97

TSH RESOURCES BERHAD

EX-date	23 May 2018
Entitlement date	25 May 2018
Entitlement time	05:00 PM
Entitlement subject	First and Final Dividend
Entitlement description	First and Final Single Tier Dividend of 2.0 sen per Ordinary Share
Period of interest payment	to
Financial Year End	31 Dec 2017
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	SYMPHONY SHARE REGISTRARS SDN BHDLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301Petaling JayaTel:03-7849 0777Fax:03-7841 8151 / 8152
Payment date	20 Jun 2018
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	25 May 2018
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.02

Tony-Pua

9059                 TSH                 TSH RESOURCES BHD

Quarterly rpt on consolidated results for the financial period ended 31/03/2018

Quarter: 1st Quarter Financial Year End: 31/12/2018 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 31/03/2018 31/03/2017 31/03/2018 31/03/2017 RM '000 RM '000 RM '000 RM '000 1 Revenue 226,136 228,501 226,136 228,501 2 Profit/Loss Before Tax 28,310 43,172 28,310 43,172 3 Profit/(loss) attributable to ordinary equity holders of the parent 17,826 29,256 17,826 29,256 4 Net Profit/Loss For The Period 18,610 34,872 18,610 34,872 5 Basic Earnings/Loss Per Shares (sen) 1.29 2.17 1.29 2.17 6 Dividend Per Share (sen) 0.00 0.00 0.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 0.9390 0.9952

Tony-Pua

icy97

Type	Announcement
Subject	MEMORANDUM OF UNDERSTANDING
Description	Memorandum of Understanding between PT Dragon Land and TSH Resources Berhad
Please refer to the attached document for the full announcement.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5838849

Attachments MOU with PT Dragon Land (Final).pdf

Tony-Pua

9059                 TSH                 TSH RESOURCES BHD

Quarterly Rpt for the Financial Period Ended 30/06/2018 (Amended)

Quarter: 2nd Quarter Financial Year End: 31/12/2018 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 30/06/2018 30/06/2017 30/06/2018 30/06/2017 RM '000 RM '000 RM '000 RM '000 1 Revenue 232,922 258,231 459,058 546,731 2 Profit/Loss Before Tax 17,446 37,924 45,757 81,096 3 Profit/(loss) attributable to ordinary equity holders of the parent 4,107 25,288 21,934 54,544 4 Net Profit/Loss For The Period 8,465 29,478 27,076 64,350 5 Basic Earnings/Loss Per Shares (sen) 0.30 1.87 1.59 4.05 6 Dividend Per Share (sen) 0.00 0.00 0.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 0.9284 0.9952

icy97

Tony-Pua

RM1.09.........capital : 15亿

Tony-Pua

rickysu 发表于 14-11-2011 08:21 PM
9059 TSH 陳順風資源 up 0.35sen

RM0.985..............市値13亿

Tony-Pua

陈顺风q3税前核心盈利3370万
http://www.enanyang.my/news/20181130/陈顺风q3税前核心盈利3370万/

9059                 TSH                 TSH RESOURCES BHD

Quarterly rpt on consolidated results for the financial period ended 30/09/2018

Quarter: 3rd Quarter Financial Year End: 31/12/2018 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 30/09/2018 30/09/2017 30/09/2018 30/09/2017 RM '000 RM '000 RM '000 RM '000 1 Revenue 225,755 256,821 684,814 803,553 2 Profit/Loss Before Tax 24,099 43,841 69,855 124,938 3 Profit/(loss) attributable to ordinary equity holders of the parent 8,118 27,116 30,052 81,661 4 Net Profit/Loss For The Period 13,036 31,620 40,111 95,971 5 Basic Earnings/Loss Per Shares (sen) 0.59 1.97 2.17 6.02 6 Dividend Per Share (sen) 0.00 0.00 0.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 0.9134 0.9952

icy97

Type	Announcement
Subject	OTHERS
Description	TSH RESOURCES BERHAD (TSH OR THE COMPANY)INCORPORATION OF A 65% OWNED SUBSIDIARY IN INDONESIA - PT AMAN MULIA GEMILANG
The Board of Directors of TSH wishes to announce that the Company had on 7 February 2019 incorporated a new subsidiary known as PT Aman Mulia Gemilang (“PTAMG”) in Indonesia (“Incorporation”). The authorised share capital of PTAMG is Rupiah 10.0 billion divided into 10,000 shares of Rupiah 1.0 million each and the issued and paid-up capital is Rupiah 2.5 billion divided into 2,500 shares of Rupiah 1.0 million each. TSH has subscribed for a total of 1,625 shares representing 65% of the entire issued and paid-up capital of PTAMG for a total subscription consideration of Rupiah 1,625,000,000. The intended activity of PTAMG is development of industrial estate and ownership and/or leasing of real estate. The incorporation of PTAMG is not expected to have any material impact on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholdings of the Company for the financial year ending 31 December 2019. None of the Directors or substantial shareholders of the Company and persons connected to them have any interest, direct or indirect, in the Incorporation. The Board of Directors of the Company having considered all aspects of the Incorporation is of the opinion that the Incorporation is in the best interest of the Company. This announcement is dated 7 February 2019.