Friday, December 26, 2014

AmWatch - TSH Resources : Getting land in Kalabakan through related company, 26 Dec 2014

STOCK FOCUS OF THE DAY
TSH Resources : Getting land in Kalabakan through related company     Hold

TSH Resources Bhd has proposed to acquire a 70% stake in Rinukut Sdn Bhd from TSH Ventures Sdn Bhd for RM18.6mil.  TSH Ventures is a private company owned by the directors of TSH. Rinukut has a 60% stake in Rinukut Plantations Sdn Bhd. The other shareholder of Rinukut Plantations is Rakyat Berjaya Sdn Bhd. There were no details on Rakyat Berjaya Sdn Bhd.
TSH is not expected to face problems in financing the acquisition cost of RM18.6mil. As at end-September 2014, the group’s gross cash was RM55.8mil.  In December 2013, TSH had proposed to acquire a 60% stake in a company, which owns 26,794ha of land in Kalabakan, Sabah, for RM180mil. The transaction was called off in July 2014 due to non-fulfilment of certain conditions. The seller of the 60% stake was Ratu Awansari Sdn Bhd. The directors of Ratu Awansari were individuals.  Maintain HOLD on TSH.

NEWS HIGHLIGHTS
Parkson Holdings : Buying land in Malacca for RM93mil
Power Sector: Mega solar power plan
Automotive Sector : MAI sees local carmakers gaining market share

DISCLAIMER:
The information and opinions in this report were prepared by AmResearch Sdn Bhd. The investments discussed or recommended in this report may not be suitable for all investors. This report has been prepared for information purposes only and is not an offer to sell or a solicitation to buy any securities. The directors and employees of AmResearch Sdn Bhd may from time to time have a position in or with the securities mentioned herein. Members of the AmInvestment Group and their affiliates may provide services to any company and affiliates of such companies whose securities are mentioned herein. The information herein was obtained or derived from sources that we believe are reliable, but while all reasonable care has been taken to ensure that stated facts are accurate and opinions fair and reasonable, we do not represent that it is accurate or complete and it should not be relied upon as such. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute our judgement as of this date and are subject to change without notice.


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Related Posts with Thumbnails