10/09/2012 (Business Times) - Kenanga Research maintained its target price on TSH Resources Bhd at RM2.85, citing positive long-term outlook as the Malaysian palm oil company’s plantations in Kalimantan start to mature.

Kenanga, however, expects a previously announced deal to acquire Pontian United Plantations Bhd to fall through as it has not received sufficient acceptance from Pontian shareholders.

“We believe that any share price weakness will be good opportunity to accumulate TSH shares at more attractive levels,” Kenanga said in a note on Monday, while maintaining its "outperform" rating on the plantation stock.

At 10.51am shares of TSH Resources were down 1.24 percent at RM2.39, while the benchmark composite index was marginally down 0.08 percent at 1623.25 points. -- REUTERS