[%Ylyx%]
Research by Kenanga
Outperform - RM1.30

"Aborts Kalimantan Land Disposal"

TSH has aborted the disposal of 5,398 ha of plantation in NE Kalimantan, Indonesia. This was the second of a two-tranche disposal of a 13,898-ha oil palm plantation. As its balance sheet strength has significantly improved over the last two years, we deem the disposal no longer necessary to de-gear. We maintain our forecasts, TP of RM1.30 and OUTPERFORM call.

Analyst:
Khoo Teng Chuan 
[%jDYO%]

$KLSE-TSH
Research by Kenanga
Outperform - RM1.30

"Aborts Kalimantan Land Disposal"

TSH has aborted the disposal of 5,398 ha of plantation in NE Kalimantan, Indonesia. This was the second of a two-tranche disposal of a 13,898-ha oil palm plantation. As its balance sheet strength has significantly improved over the last two years, we deem the disposal no longer necessary to de-gear. We maintain our forecasts, TP of RM1.30 and OUTPERFORM call.

Analyst:
Khoo Teng Chuan 
khootc@kenanga.com.my