TSH Resources to recognise RM42mil administrative fine in Q3 financial statements
KUALA LUMPUR: TSH Resources Bhd will recognise an administrative fine of 184.35 billion rupiah (approximately RM42 million) in relation to plantation areas outside the Hak Guna Usaha (HGU) area of its 90 per cent-owned indirect subsidiary, PT Sarana Prima Multi Niaga (PT SPMN), in its third-quarter 2026 financial statements.
TSH Resources Bhd will acknowledge a RM42 million administrative fine due to plantation areas beyond the Hak Guna Usaha zone in its Q3 2026 financial statements. The fine pertains to 1,228.89 hectares of land, with 496.69 hectares already planted prior to TSH's acquisition of PT Sarana Prima Multi Niaga (PT SPMN), and 732.20 hectares cultivated by local communities.
This fine will be paid in four monthly installments beginning September 25, 2026, amounting to 46.3 million rupiah (around RM10.5 million) followed by three more equal payments of 10.5 million rupiah each in October, November, and December 2026. Despite the fine, TSH Resources will maintain its reported planted area as the affected land lies outside PT SPMN's Hak Guna Usaha and is not included in their recorded planted hectares.
The only unresolved issue with Indonesia's Forest Area Enforcement Task Force (Satgas) relates to 61.09 hectares at PT Teguh Swakarsa Sejahtera (PT TSS), which are planted outside the group's Hak Guna Usaha area. TSH will disclose further updates if any material developments arise concerning PT TSS.
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