Th Plantations Berhad

$THPLANT / 5112 (TH PLANTATIONS BERHAD) : Plantation Rally?

THPLANT been breaking out over the past 2 weeks here as FCPO prices started to breakout from major resistant levels. Could it be the start of another plantation sector rally?

Let's see what the charts are telling us!

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Titan Trading Notes For Monday [11/11/2024]:

$KLCI retraced back towards the 1621 points region with an overall negative market sentiment on Friday as we still saw over 650 counters closing red for the day along with it. Daily trading volume remained around the 2.6 billion mark, which is just average.

Main stocks that showed strong buying momentum would be the likes of YEWLEE, AGX, MKHOP, DIALOG, ARMADA, and VLB. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

$AGX / 0299 (AGX GROUP BERHAD) was definitely the star player for the day was it was able to breakout all the way towards the RM 0.63 regions with huge volume and buying momentum here despite the weak market sentiment.

This came after it retraced and consolidated over the past few months with RM 0.48 - RM 0.50+ as the main support levels. For now, it's doing very well here and despite being overbought, as long as able to hold above its RM 0.585+ immediate support, could continue on beyond its RM 0.635 all time high soon.

Will be monitoring AGX closely here as seems to be ripe for a bullish continuation pattern.

$HUPSENG / 5024 (HUP SENG INDUSTRIES BERHAD) since its earlier breakout towards the RM 1.20 regions after announcing record high profits, had been able to hold well above its RM 1.12+ main support levels on the hourly charts despite the weak market.

For now, still looking quite strong here and as long as able to sustain, could breakout back towards and beyond the RM 1.20+ major resistance levels soon for a further bullish continuation pattern soon.

Will be monitoring HUPSENG closely here

With FCPO prices rallying, it's not surprising to see stocks like $THPLANT / 5112 (TH PLANTATIONS BERHAD) breaking out strong during last Friday, breaking out all the way towards the RM 0.72+ regions with growing volume and buying momentum despite the weak market.

For now still looking very strong here and as long as able to hold above its RM 0.70+ immediate support levels, could continue on towards and beyond the RM 0.75 - RM 0.78+ major resistance levels soon.

Titan Trading Notes For Tuesday [5/11/2024]:

$KLCI had a decent rebound back towards the 1616 points region with an overall mixed market sentiment though as we still saw over 480 counters closing red for the day. Daily trading volume still remains low around the 2.4 billion mark, which isn't so great.

Main stocks that showed strong buying momentum would be the likes of CEB, BAHVEST, SORENTO, OBHB, MYEG, SDCG, CIMB, YTL, TANCO, JPG, HAWK, BJFOOD, EKOVEST, GAMUDA, CAREPLS, and CYPARK. All of which were able to sustain their rallies throughout the day on the top volumes list.

$CEB / 5311 (CAPE EMS BERHAD) was definitely the star performer today as it managed to breakout all the way towards the RM 0.35 regions with huge volume and buying momentum today after consolidating around the RM 0.305+ major support levels just last week.

This came after The Edge's latest article on CEB, mentioning possibilities of a takeover by parties like Ekuinas. So far still looking quite strong here and as long as able to hold above its RM 0.33 support, could continue on towards and beyond the RM 0.36+ major resistance levels soon.

Will be monitoring CEB closely here.

$BAHVEST / 0098 (BAHVEST RESOURCES BERHAD) on the other hand since retracing back towards the RM 0.80+s support levels last week, had been able to breakout from its RM 0.86 major resistance levels and rallied all the way towards the RM 0.97 regions with huge volume and buying momentum today.

So far looking very strong here and as long as able to sustain above its RM 0.90+ immediate support levels, could continue on towards and beyond its RM 0.97 - RM 1 major resistance levels soon.

BAHVEST is quite overbought to me, but definitely worth to monitor as it's one of the leading stocks in the market.

$THPLANT / 5112 (TH PLANTATIONS BERHAD) following the plantation sector's rally, was able to breakout from its RM 0.67 major resistance levels and rallied all the way towards the RM 0.70 regions with good volume and buying momentum today.

So far still looking quite strong here and as long as able to hold above its RM 0.67 immediate support levels, could continue on towards and beyond its RM 0.715+ major resistance levels soon in the coming weeks.

Change in Nomination and Remuneration Committee - PUAN FAHDA NUR BINTI AHMAD KAMAR

Change in Audit Committee - DR NURMAZILAH BINTI DATO' MAHZAN

Change in Audit Committee - ENCIK KASMURI BIN SUKARDI

MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)

Change in Nomination and Remuneration Committee - ENCIK MUHAMMAD RAMIZU BIN MUSTAFFA

Change in Boardroom - ENCIK MUHAMMAD RAMIZU BIN MUSTAFFA

Change in Audit Committee - ENCIK MUHAMMAD RAMIZU BIN MUSTAFFA

$THPLANT / 5112 (TH PLANTATIONS BERHAD)

KUALA LUMPUR: Sunview Group Bhd, Solarvest Holdings Bhd, TH Plantations Bhd, Tex Cycle Technology (M) Bhd, Careplus Group Bhd, Taliworks Corp Bhd, Apollo Food Holdings Bhd and Sapura Energy Bhd are among the stocks to watch on Friday.

OTHERSTH PLANTATIONS BERHAD ("THP" OR "THE COMPANY") -
SHAREHOLDERS AGREEMENT BETWEEN A WHOLLY OWNED SUBSIDIARY OF THP, NAMELY THP APPLICATIONS & SERVICES SDN. BHD. AND CENERGI RE SDN BHD.

Change in Nomination and Remuneration Committee - DR NURMAZILAH BINTI DATO' MAHZAN

KUALA LUMPUR: TH Plantations Bhd’s net profit rose 13.6 per cent year-on-year (YoY) to RM13.04 million in the first quarter ended March 31, 2024 (Q1 2024) versus RM11.45 million in the same period last year, buoyed by higher sales volume of palm products. 

© New Straits Times Press (M) Bhd

Quarterly rpt on consolidated results for the financial period ended 31/03/2024

MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)

Change in Boardroom - TUAN HAJI BAKRI BIN JAMALUDDIN

Change in Nomination and Remuneration Committee - TUAN HAJI BAKRI BIN JAMALUDDIN

Change in Audit Committee - TUAN HAJI BAKRI BIN JAMALUDDIN

General Meetings: Outcome of Meeting

MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)

DISCLOSURE ON QUARTERLY PRODUCTION

KUALA LUMPUR: TH Plantations Bhd (THP) cautioned over potential volatility in commodity prices, projecting crude palm oil (CPO) prices to fluctuate between RM3,500 and RM4,000 per tonne in 2024, compared to the average of RM3,809.50 per tonne in 2023.

© New Straits Times Press (M) Bhd

CIRCULAR TO SHAREHOLDERS IN RELATION TO THE: PROPOSED RENEWAL OF SHAREHOLDERS' MANDATE FOR EXISTING RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE ("RRPTs") ("PROPOSED RENEWAL OF SHAREHOLDERS' MANDATE")

Annual Report & CG Report - 2023

General Meetings: Notice of Meeting

MONTHLY PRODUCTION FIGURES (MINING / PLANTATION / TIMBER)

$THPLANT / 5112 (TH PLANTATIONS BERHAD)
Research by Maybank
Sell – TP of MYR0.58

“ESG 2.0: More can be done”

THP’s overall ESG score is 35 (out of 100), below average. We opine THP needs to do more in terms of data collection, disclosures and commitment towards its sustainability goals, alongside its priority to raise profitability and lower gearing. Given the lack of catalysts, the stock remains a SELL with an unchanged TP of MYR0.58 based on 0.7x FY24E PBV, its 5Y mean.

Analyst(s):
Ong Chee Ting, CA
ct.ong@maybank-ib.com

THPLANT - Notice of Book Closure