TSH Resources Bhd (9059) - Net Assets

Latest as of March 2026: RM2.12 Billion MYR ≈ $531.33 Million USD

Based on the latest financial reports, TSH Resources Bhd (9059) has net assets worth RM2.12 Billion MYR (≈ $531.33 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM2.64 Billion ≈ $661.90 Million USD) and total liabilities (RM520.05 Million ≈ $130.57 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore total assets of TSH Resources Bhd for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	RM2.12 Billion
% of Total Assets	80.27%
Annual Growth Rate	8.03%
5-Year Change	18.34%
10-Year Change	29.03%
Growth Volatility	10.57

TSH Resources Bhd - Net Assets Trend (2005–2025)

This chart illustrates how TSH Resources Bhd's net assets have evolved over time, based on quarterly financial data. Check 9059 tangible net assets ratio to evaluate the tangible quality of the company's equity base.

Annual Net Assets for TSH Resources Bhd (2005–2025)

The table below shows the annual net assets of TSH Resources Bhd from 2005 to 2025. For live valuation and market cap data, see 9059 market cap overview.

Year	Net Assets	Change
2025-12-31	RM2.15 Billion ≈ $538.86 Million	-5.30%
2024-12-31	RM2.27 Billion ≈ $569.03 Million	-1.68%
2023-12-31	RM2.31 Billion ≈ $578.78 Million	+8.12%
2022-12-31	RM2.13 Billion ≈ $535.29 Million	+17.56%
2021-12-31	RM1.81 Billion ≈ $455.33 Million	+13.51%
2020-12-31	RM1.60 Billion ≈ $401.15 Million	+1.46%
2019-12-31	RM1.57 Billion ≈ $395.36 Million	+4.66%
2018-12-31	RM1.50 Billion ≈ $377.76 Million	-6.38%
2017-12-31	RM1.61 Billion ≈ $403.53 Million	-3.38%
2016-12-31	RM1.66 Billion ≈ $417.63 Million	+10.80%
2015-12-31	RM1.50 Billion ≈ $376.94 Million	+16.41%
2014-12-31	RM1.29 Billion ≈ $323.80 Million	+11.05%
2013-12-31	RM1.16 Billion ≈ $291.58 Million	+17.39%
2012-12-31	RM989.36 Million ≈ $248.40 Million	+4.43%
2011-12-31	RM947.38 Million ≈ $237.86 Million	+12.11%
2010-12-31	RM845.07 Million ≈ $212.17 Million	+3.66%
2009-12-31	RM815.23 Million ≈ $204.68 Million	+10.79%
2008-12-31	RM735.80 Million ≈ $184.74 Million	+2.07%
2007-12-31	RM720.85 Million ≈ $180.98 Million	+42.37%
2006-12-31	RM506.33 Million ≈ $127.12 Million	+10.56%
2005-12-31	RM457.95 Million ≈ $114.98 Million	--

Equity Component Analysis

This analysis shows how different components contribute to TSH Resources Bhd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 799.5% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	RM1.73 Billion	90.50%
Common Stock	RM740.51 Million	38.78%
Other Comprehensive Income	RM-425.47 Million	-22.28%
Total Equity	RM1.91 Billion	100.00%

TSH Resources Bhd Competitors by Market Cap

The table below lists competitors of TSH Resources Bhd ranked by their market capitalization.

Company	Market Cap
Viva Wine Group AB ST:VIVA	$367.51 Million
Spirox Corp TW:3055	$367.65 Million
Checkpoint Therapeutics Inc NASDAQ:CKPT	$367.72 Million
Van de Velde NV BR:VAN	$367.83 Million
Jiusheng Electric Co. LTD SHE:301082	$367.26 Million
Nanjing TDH Technology Co. Ltd. A SHE:301378	$367.10 Million
Tus-Sound Environmental Resources Co Ltd SHE:000826	$367.09 Million
Lootom Telcovideo Network Wuxi Co Ltd SHE:300555	$367.00 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in TSH Resources Bhd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 2,008,505,000 to 1,909,379,000, a change of -99,126,000 (-4.9%).
Net income of 182,943,000 contributed positively to equity growth.
Share repurchases of 115,610,000 reduced equity.
Other comprehensive income decreased equity by 161,352,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	RM182.94 Million	+9.58%
Share Repurchases	RM115.61 Million	-6.05%
Other Comprehensive Income	RM-161.35 Million	-8.45%
Other Changes	RM-5.11 Million	-0.27%
Total Change	RM-	-4.94%

Book Value vs Market Value Analysis

This analysis compares TSH Resources Bhd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 0.81x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has decreased from 2.92x to 0.81x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-12-31	RM0.40	RM1.18	x
2006-12-31	RM0.39	RM1.18	x
2007-12-31	RM0.53	RM1.18	x
2008-12-31	RM0.53	RM1.18	x
2009-12-31	RM0.59	RM1.18	x
2010-12-31	RM0.61	RM1.18	x
2011-12-31	RM0.69	RM1.18	x
2012-12-31	RM0.72	RM1.18	x
2013-12-31	RM0.81	RM1.18	x
2014-12-31	RM0.88	RM1.18	x
2015-12-31	RM1.01	RM1.18	x
2016-12-31	RM1.12	RM1.18	x
2017-12-31	RM1.08	RM1.18	x
2018-12-31	RM0.99	RM1.18	x
2019-12-31	RM1.04	RM1.18	x
2020-12-31	RM1.05	RM1.18	x
2021-12-31	RM1.19	RM1.18	x
2022-12-31	RM1.38	RM1.18	x
2023-12-31	RM1.48	RM1.18	x
2024-12-31	RM1.46	RM1.18	x
2025-12-31	RM1.46	RM1.18	x

Capital Efficiency Dashboard

This dashboard shows how efficiently TSH Resources Bhd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 9.58%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 17.22%
• Asset Turnover: 0.40x
• Equity Multiplier: 1.40x
Recent ROE (9.58%) is above the historical average (8.80%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	9.78%	7.12%	0.75x	1.84x	RM-877.60K
2006	11.84%	8.25%	0.71x	2.02x	RM8.01 Million
2007	14.95%	11.01%	0.73x	1.87x	RM31.43 Million
2008	9.18%	5.41%	0.78x	2.17x	RM-5.34 Million
2009	9.93%	7.38%	0.57x	2.37x	RM-498.80K
2010	11.20%	9.28%	0.49x	2.48x	RM9.05 Million
2011	13.96%	10.44%	0.56x	2.37x	RM33.61 Million
2012	8.71%	7.83%	0.44x	2.54x	RM-11.44 Million
2013	14.22%	14.83%	0.43x	2.23x	RM44.84 Million
2014	10.46%	11.56%	0.41x	2.19x	RM5.42 Million
2015	-7.78%	-13.20%	0.25x	2.34x	RM-241.22 Million
2016	3.84%	6.63%	0.25x	2.33x	RM-92.82 Million
2017	7.79%	10.71%	0.32x	2.26x	RM-32.71 Million
2018	2.95%	4.46%	0.28x	2.34x	RM-96.85 Million
2019	3.08%	5.28%	0.26x	2.27x	RM-99.62 Million
2020	5.47%	10.17%	0.25x	2.18x	RM-65.86 Million
2021	10.32%	14.25%	0.36x	2.02x	RM5.28 Million
2022	24.01%	34.95%	0.44x	1.56x	RM266.32 Million
2023	4.65%	8.92%	0.37x	1.39x	RM-109.59 Million
2024	6.75%	13.30%	0.37x	1.37x	RM-65.19 Million
2025	9.58%	17.22%	0.40x	1.40x	RM-7.99 Million

Industry Comparison

This section compares TSH Resources Bhd's net assets metrics with peer companies in the Farm Products industry.

Industry Context

Industry: Farm Products
Average net assets among peers: $402,870,904
Average return on equity (ROE) among peers: -3.22%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
TSH Resources Bhd (9059)	RM2.12 Billion	9.78%	0.25x	$367.42 Million
Green Ocean Corporation Bhd (0074)	$21.99 Million	8.76%	1.57x	$4.77 Million
MAG Holdings Berhad (0095)	$478.25 Million	-22.74%	0.13x	$76.43 Million
Greenyield Bhd (0136)	$58.03 Million	7.35%	0.46x	$21.57 Million
Heng Huat Resources Group Bhd (0175)	$231.51 Million	3.70%	0.31x	$32.19 Million
Matang Bhd (0189)	$246.80 Million	1.06%	0.02x	$44.99 Million
Pinehill Pacific Bhd (1902)	$124.00 Million	-20.97%	2.00x	$17.30 Million
Chin Teck Plantations Bhd (1929)	$651.35 Million	10.97%	0.05x	$247.27 Million
Kretam Holdings Bhd (1996)	$919.65 Million	2.19%	0.35x	$374.54 Million
Negri Sembilan Oil Palms Bhd (2038)	$556.55 Million	4.43%	0.35x	$95.18 Million
TDM Berhad (2054)	$740.59 Million	-26.99%	1.25x	$90.84 Million

About TSH Resources Bhd

KLSE:9059 Malaysia Farm Products

Market Cap

$367.42 Million

RM1.46 Billion MYR

Market Cap Rank

#13863 Global

#156 in Malaysia

Share Price

RM1.18

Change (1 day)

+0.00%

52-Week Range

RM1.08 - RM1.40

All Time High

RM1.76