FYE 2023 TSH RESOURCES REPORTED RM1.066 BILLION REVENUE,  PRE-TAX  PROFIT RM197.8 MILLION

Datuk Kelvin Tan, 66, has returned to an executive role in TSH Resources, a Sabah based plantation company he founded in which he is the single largest shareholder (24.83%). With effect from 1 Sept 2024, Datuk Kelvin is Executive Chairman. He has been a Director of TSH since 17 January 1986. 
In 1997, Kelvin started the cocoa trading business in Bagan Datoh, Perak. Anticipating that national production of cocoa would be centered in the east coast of Sabah, he made a step to expand to Tawau in 1986. He pioneered the integrated concept of cocoa business with both upstream sourcing and downstream processing. In 1988, CocoaHouse Industries Sdn. Bhd., a joint venture with the Commonwealth Development Corporation of UK, set up a cocoa butter/powder processing plant in Port Klang. Kelvin embarked on a similar approach with oil palm. In the 1990s, he established oil palm plantations and palm oil mills in Sabah. To enhance the economic and environmental sustainability of TSH’s oil palm business, a biomass cogeneration plant was built in 2004. In 2006, TSH-Wilmar Sdn. Bhd., a downstream palm oil refinery joint venture was set up with Wilmar as a partner. Kelvin, with business entrepreneur Garibaldi Thohir, expanded TSH’s operations to Indonesia in 2003, which now has 36,000 Ha of oil palm and 4 palm oil mills, transforming TSH into a regional integrated oil palm plantation player with upstream and downstream activities. Garibaldi Thohir is the CEO and a significant shareholder of Adaro Energy. TSH was listed on the Second Board of Bursa Malaysia in 1994, before being subsequently elevated to the Main Board in 2000. Kelvin was also the catalyst and spearheaded the secondary listing of TSH on the Main Board of Singapore Exchange Securities Trading Limited in September 2023.

Dato' Kelvin's brother, Dato' Tan Aik Sim, 60, who has been Group MD of TSH since 2009 has resigned for health reasons. Another brother, Tan Aik Kiong, 63, remains as Group ED of TSH while concurrently holding the post of MD of Innoprise Plantations of which TSH has a 21.94% stake .

TSH owns about 39,000 ha of planted oil palm area and 5 mills in Malaysia/ Indonesia. It's subsidiary Ekowood manufactures n exports engineered hardwood flooring to USA, Europe & Australia.

ACKNOWLEDGEMENTS

1. TSH Resources Berhad. Board of Directors. https://www.tsh.com.my/board-of-directors/kelvin-tan-aik-pen/
2. KLSEScreener. TSH Resources Berhad. 2021 Annual Report. https://www.klsescreener.com/v2/announcements/view/3538919
3. TSH Resources Berhad. https://www.tsh.com.my/board-of-directors/kelvin-tan-aik-pen/
4. Market Screener. 30 August 2024. https://www.marketscreener.com/quote/stock/TSH-RESOURCES-6491568/news/Tsh-Resources-Berhad-Announces-Redesignation-of-Datuk-Kelvin-Tan-Aik-Pen-from-Non-Executive-Chairman-47772489/
5. Tatler. https://www.tatlerasia.com/people/my-kelvin-tan
6. The Edge Malaysia. 14 August 2019. Syahirah Syed Jaafar. https://theedgemalaysia.com/article/tan-aik-kiong-takes-helm-innoprise-plantations-brother
7. Innoprise Plantations Berhad. 2023 Annual report. https://cdn1.i3investor.com/my/files/st88k/6262_INNO/annual/2023-12-31/6262_INNO_AnnualReport_2023-12-31_IPB_AR2023_1007354751.pdf
8. Yahoo! Finance. 26 December 2023. https://finance.yahoo.com/news/52-ownership-shares-innoprise-plantations-054310160.html?fr=sycsrp_catchall
9. Innoprise Plantations Berhad. 2020 Annual Report. https://innoprise.com.my/wp-content/uploads/2021/05/Innoprise-AR2020_For-Bursa-compressed.pdf
10. i3investor. 19 May 2023. https://klse.i3investor.com/web/corporatefigure/detail/9059?id=9059-21966-214149039
11. The Edge. 30 November 2016. Chong Jin Hun. https://theedgemalaysia.com/article/tsh-says-privatise-ekowood-improve-its-financial-performance