TSH Resources proposes bonus issue

PETALiNG JAyA: TSH Resources Bhd has proposed to make a one-for-two bonus issue.

The exercise entails the issuance of 451.9 million new shares. This is the second time in three years that the Sabah-based plantation company has decided to reward its shareholders with bonus shares.

“We are proud to be proposing this one-for-two bonus issue and stay on course to continuously reward our shareholders with free shares and cash dividend in the long term,” chairman Datuk Kelvin Tan said in a statement.

The company had in June paid a cash dividend of a 3.5 sen a share.

The enlarged share capital is envisaged to encourage trading liquidity on Bursa Malaysia.

“Better trading liquidity should benefit TSH shareholders as it improves the marketability of their share investment in the company,’’ Tan said.

Shares in TSH had risen 18.6% so far this year. It closed at RM3.57 yesterday.