[%ikMO%] 
Research by PIB
Neutral - TP of MYR 1.02

“Ceasing Coverage” 

TSH Resources reported a headline 1QFY24 net profit of RM25.2m (YoY: - 33.6%), mainly dragged by lower FFB production and losses from other segment. No dividend was declared for the quarter. Management expects CPO prices to hover at current level of RM3,800/mt while FFB production is expected to stay flattish this year. Given limited growth drivers amid sluggish FFB yields expected, we are ceasing coverage on TSH as we also redeploy our internal resources to broaden coverage on other sectors. Our last call on the stock is Neutral with a TP of RM1.02.

Analyst(s):
Chong Hoe Leong
[%Lgoz%]

$KLSE-TSH 
Research by PIB
Neutral - TP of MYR 1.02

“Ceasing Coverage” 

TSH Resources reported a headline 1QFY24 net profit of RM25.2m (YoY: - 33.6%), mainly dragged by lower FFB production and losses from other segment. No dividend was declared for the quarter. Management expects CPO prices to hover at current level of RM3,800/mt while FFB production is expected to stay flattish this year. Given limited growth drivers amid sluggish FFB yields expected, we are ceasing coverage on TSH as we also redeploy our internal resources to broaden coverage on other sectors. Our last call on the stock is Neutral with a TP of RM1.02.

Analyst(s):
Chong Hoe Leong
chonghoeleong@publicinvestbank.com.my