Dear friends of i3 Forum,

We went through the Annual Report for 2023 of TSH RESOURCES recently & found Wonderful Discoveries

Presented here for all to read

(Please Refer to Bursa as All Details extracted from 2023 TSH Annual Report)

5-Year Financial Highlight

& Financial Indicators

All figures in RM’000............... 2019........... 2020.............. 2021............... 2022.................. 2023

FINANCIAL HIGHLIGHTs

Revenue................... 838,894......... 926,003........ 1,188,919.......... 1,305,999............ 1,066,516

Core profit before taxation.... 69,062........ 128,577....... 266,891..... 257,178........... 182,340

Profit before taxation............. 74,006........ 130,242...... 254,084...... 557,297........... 197,837

Profit after taxation............... 45,625.......... 90,324....... 202,013...... 524,993........... 125,825

Profit attributed to Company 44,280.......... 79,487....... 169,415 ......456,407............. 95,112

Total assets.................... 3,265,134........ 3,171,777.... 3,308,036..... 2,959,278.......... 2,845,022

Total borrowings............ 1,431,797......... 1,309,195.... 1,109,325..... 559,111............. 302,120

Shareholders’ equity...... 1,438,982......... 1,453,432.... 1,641,330.... 1,900,839.......... 2,046,973

Total equity.................... 1,574,720......... 1,597,783..... 1,813,588.... 2,132,058.......... 2,305,281

FINANCIAL INDICATORS

Basic earnings per share (sen)...... 3.21....... 5.76...... 12.27....... 33.07....... 6.89

Diluted earnings per share (sen).... 3.21...... 5.76...... 12.27....... 33.07....... 6.89

Net asset per share....................... 1.04...... 1.05....... 1.19......... 1.38......... 1.48

Return on shareholders’ equity (%)(1) 3.08.... 5.47... 10.32....... 24.01........ 4.65

Return on total assets (%)(2)............. 1.36.... 2.51.... 5.12........ 15.42........ 3.34

Net debt to equity (%)(3)................. 82.93..... 71.00... 44.78....... 8.31......... 2.02

Share price as at financial year end.. 1.54..... 1.15..... 1.08......... 1.07......... 0.98

OK FROM ABOVE LET US DO A BREAK DOWN

REVENUE UP FROM 

Year 2019: Rm 838,894,000 to Year 2023:  Rm1,066,516,000

Or up Rm227,622,000 (Up by 27.1%)

Profit After Tax 

2019 : Rm45.625 Millions

2023: Rm125.825 Millions

Up by 275% from year 2019 to 2013

NET ASSET PER SHARE

Year 2019: Rm1.04 to Year 2023: Rm1.48

Up by 44 sen (or up by 42.3)

TOTAL BORROWINGS

Year 2019 Rm1413797,000 or RM1.413 BILLIONS BORROWINGS

Year 2023 Rm302,120,000 or Rm320.12 Millions

From year 2019 to 2023

Borrowings Reduced by Rm1,111,677,000

Borrowings Reduced by RM1.11 BILLIONS

Or borrowings reduced by 78,6% in 5 Years

Or TSH RESOURCES pared down Debt by 15.7% Each Year of the Last 5 Year!

Well Done! Well Done Indeed!!!

NET DEBT TO EQUITY

2019 : 82.93%

2023:  2.02%

REALLY FANTASTIC

TSH IS NOW ALMOST DEBT FREE (IF WE INCLUDE ITS NET CASH & LIQUID INVESTMENTS)

VERY ROCK SOLID BALANCE SHEET INDEED!

BUT THE BEST OF ALL IS ITS SHARE PRICE HAS FALLEN TO BARGAIN BASEMENT LEVEL

SEE

Share price as at financial year end

.2019: Rm1.54..... 2020: Rm1.15..... 2021: 1.08......... 2022: Rm1.07......... 2023:  0.98 sen

ALL ABOVE FIGURES EXTRACTED AS IS WHERE IS FROM BURSA WEBSITE

As of Now TSH is Rm1.13

Our Target price is Rm1.50

And after that Rm2.00 to Rm3.00

See this

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"I STUDY THE NUMBERS"

................John Neff

(Van Guard;  Winsor Top Fund Manager)

WITH WARM REGARDS

Calvin Tan

Please buy or sell after doing your own due diligence or consult your Remisier/Fund Manager