TSH Resources Bhd (9059) - Net Assets
Based on the latest financial reports, TSH Resources Bhd (9059) has net assets worth RM2.02 Billion MYR (≈ $508.13 Million USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM2.54 Billion ≈ $638.76 Million USD) and total liabilities (RM520.29 Million ≈ $130.63 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. Check TSH Resources Bhd strategic capital allocation to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM2.02 Billion |
| % of Total Assets | 79.55% |
| 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. For live market cap and overall valuation, see 9059 market cap overview.
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. Also explore TSH Resources Bhd equity growth rate to track the company's year-over-year net asset growth rate.
| 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 |
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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 |
|---|---|
|
PureTech Health PLC
NASDAQ:PRTC
|
$423.06 Million |
|
Salmones Camanchaca S.A
SN:SALMOCAM
|
$423.18 Million |
|
Lion Travel Service Co Ltd
TW:2731
|
$423.18 Million |
|
Chaince Digital Holdings Inc.
NASDAQ:CD
|
$423.25 Million |
|
Zhejiang Jinlihua Electric Co
SHE:300069
|
$422.71 Million |
|
China United Travel Co Ltd
SHG:600358
|
$422.64 Million |
|
Vinh Hoan Corp
VN:VHC
|
$422.56 Million |
|
ValueHD Corp. A
SHE:301318
|
$422.50 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: 0.94x
- 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 3.39x to 0.94x 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 | RM1.37 | x |
| 2006-12-31 | RM0.39 | RM1.37 | x |
| 2007-12-31 | RM0.53 | RM1.37 | x |
| 2008-12-31 | RM0.53 | RM1.37 | x |
| 2009-12-31 | RM0.59 | RM1.37 | x |
| 2010-12-31 | RM0.61 | RM1.37 | x |
| 2011-12-31 | RM0.69 | RM1.37 | x |
| 2012-12-31 | RM0.72 | RM1.37 | x |
| 2013-12-31 | RM0.81 | RM1.37 | x |
| 2014-12-31 | RM0.88 | RM1.37 | x |
| 2015-12-31 | RM1.01 | RM1.37 | x |
| 2016-12-31 | RM1.12 | RM1.37 | x |
| 2017-12-31 | RM1.08 | RM1.37 | x |
| 2018-12-31 | RM0.99 | RM1.37 | x |
| 2019-12-31 | RM1.04 | RM1.37 | x |
| 2020-12-31 | RM1.05 | RM1.37 | x |
| 2021-12-31 | RM1.19 | RM1.37 | x |
| 2022-12-31 | RM1.38 | RM1.37 | x |
| 2023-12-31 | RM1.48 | RM1.37 | x |
| 2024-12-31 | RM1.46 | RM1.37 | x |
| 2025-12-31 | RM1.46 | RM1.37 | 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: $477,309,077
- Average return on equity (ROE) among peers: -1.41%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TSH Resources Bhd (9059) | RM2.02 Billion | 9.78% | 0.26x | $422.77 Million |
| Green Ocean Corporation Bhd (0074) | $130.50 Million | -9.56% | 0.02x | $4.51 Million |
| MAG Holdings Berhad (0095) | $816.10 Million | 4.21% | 0.49x | $74.04 Million |
| Greenyield Bhd (0136) | $141.13 Million | -7.04% | 0.78x | $20.87 Million |
| Heng Huat Resources Group Bhd (0175) | $75.84 Million | 0.06% | 1.10x | $40.24 Million |
| Matang Bhd (0189) | $167.21 Million | 0.95% | 0.01x | $44.99 Million |
| Pinehill Pacific Bhd (1902) | $31.00 Million | -12.90% | 5.52x | $17.30 Million |
| Chin Teck Plantations Bhd (1929) | $809.07 Million | 13.29% | 0.05x | $240.85 Million |
| Kretam Holdings Bhd (1996) | $607.72 Million | -6.37% | 0.35x | $377.42 Million |
| Negri Sembilan Oil Palms Bhd (2038) | $566.39 Million | 1.67% | 0.33x | $95.71 Million |
| TDM Berhad (2054) | $1.43 Billion | 1.62% | 0.87x | $93.00 Million |
About TSH Resources Bhd
TSH Resources Berhad, an investment holding company, primarily engages in oil palm cultivation and processing, and forest plantation activities in Malaysia, Indonesia, Southwest Pacific, the United States, and internationally. It operates through Palm Products and Others segments. The Palm Products segment operates oil palm plantations; and manufactures and sells crude palm oil and palm kernel. T… Read more