TSH Resources enters deals to widen plantation footprint in Indonesia
13/04/2026 (The Edge Malaysia), Kuala Lumpur - TSH Resources Bhd (KL:TSH) on Monday announced plans to boost its oil palm assets in Indonesia via related-party acquisitions.
In an exchange filing on Monday, the plantation group said it has entered into a deal to acquire Konsep Majureka Sdn Bhd from its chairman Datuk Kelvin Tan Aik Pen and former managing director Tan Aik Sim for RM35.03 million.
Kelvin Tan holds a 28.46% equity interest in TSH Resources while Aik Sim owns a 3.37% stake.
TSH Resources said Konsep Majureka's acquisition would expand its landbank and support plans to build a new palm oil mill closer to its estates, reducing transport costs.
Konsep Majureka holds 90% equity interest in PT Katingan Mitra Sejati, which owns land in Central Kalimantan province valued at RM41.5 million, according to a valuation report dated Jan 23, 2026. The land spans 9,842 hectares, with 3,512 hectares identified as suitable for planting under the first phase of its land use rights application.
In a separate deal, TSH Resources said its indirect Indonesian subsidiaries, PT Sarana Prima Multi Niaga and PT Mitra Jaya Cemerlang, are buying an Indonesian oil palm company, PT Dinamika Alam Segar (PT Das), for 5.5 billion rupiah (RM1.28 million).
PT Das owns land in Central Kalimantan province, with 787 hectares suitable for oil palm plantation. TSH Resources said the acquisition of PT Das would “provide further economies of scale of operations” and support its new estates developed on the land.
TSH Resources said the proposed acquisitions would expand its plantation footprint in Indonesia and improve logistics by reducing transport distances for fresh fruit bunches.
The group said the deals would not affect its current share capital nor would it have any material effect on its earnings for the financial year Dec 31, 2026 but would provide earnings visibility for the future.
Shares of TSH Resources closed down by one sen or 0.7% at RM1.36 on Monday, valuing the group at RM1.74 billion.