Remember the LORD for it is he who gives you the ability to produce wealth and so confirms his covenant... Deut. 8:18

Monday, April 9, 2012

TSH Plantation.

The Edge did an article on TSH and this is what I gathered:
TSH has landbanks totalling 98,453 ha, out of which 95.5 5 % ( 94,003 ha ) is in Indonesia and 4,450 ha is in Sabah.
37 % (ie., 36,400 ha ) of the landbanks in Indonesia has been planted with 30 % ( ie., 10,920 ha ) reaching maturity, leaving 70 % of the trees yet to reach maturity.
Total planted areas = approx. 41,000 ha
As ending 2011, TSH reported trees in the landbanks as 47 % immature ( < 4 years ), 26 % young mature ( 4 to 6 years ), 15 % mature prime 1 ( 7 to 15 years ), 12 % mature prime 2 ( 16 to 25 years )
TSH has 22.3 % share in Innoprise Plantation which has 12,619 ha plantation land in Sabah and is 51 % owned by Yayasan Sabah.

TSH is projecting strong growth in the near future:
2008 FFB = 198,190 mt ( incl. Indonesian 66,290 mt )
2011 FFB = 399,600 mt ( incl. Indonesian 259,500 mt , CAGR 52%)
2012 prediction FFB = 485,100 mt. 2013 prediction FFB = 608,800 mt. 2014 prediction 723,800 mt

TSH did a bonus issue in Dec 2011 and adjusting for that (nta 104, Q/Q 2.9/ 4.4/ 4.2/ 3.2).
It is now trading at RM 2.34 with P/E 16 which is on the high range

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