Company Information
- Company name: Tabung Haji Plantations Berhad (TH Plantations)
- Registration location: Malaysia, with operating sites also in Indonesia
- Ownership/ ultimate beneficial owner: TH Plantations is part of Lembaga Tabung Haji (Pilgrimage Fund Institution) asset
- Management information: Lembaga Tabung Haji is a Malaysian Islamic financial institution owned by the government of Malaysia
- Stock exchange listing: publicly traded in Bursa Malaysia since April 2006
- Sectors: 39 oil palm estates (some of which in the midst of trading process with the government of Sarawak) and six palm oil mills across Malaysia and Indonesia
- Geographical division of net revenues (destiny): Malaysia 100% Destination not known. This is the place of production.
Financial Information 2019 (All info USD million unless otherwise given)
- Annual revenue (Last year and last reported period (Q), incl YoY growth): USD 119.2 million (-4.9% YoY) for 2019
- Net revenue: USD 119.2 million (-4.9% YoY) for 2019
- Gross profit: 4
- EBITDA: 0
- Net profit: -18.3
- Market cap ultimo preceding year: 4
- Enterprise value ultimo preceding year: 8
Recent Sustainability Overview
During the past few years, TH Plantations unsustainable operations have been scrutinized by NGOs. In a report released by Greenpeace in September 2016 about the human and environmental cost of IOI’s supply chain, TH Plantations operations in North Kalimantan was brought up as it was an active supplier to IOI. Deep peatland clearance in TH Plantations’ concession PT Persada Kencana Prima was detected in 2015, making it violated IOI’s NDPE commitment. TH Plantations released a statement denying the allegations and defended its position because it had the necessary permits to utilize the concessions, in addition to its defence that the locations had been excluded from Indonesian moratorium on palm oil permits. Despite its defence, CRR noticed from Wilmar’s grievance list that TH Plantations agree to release a stop work order in June 2017. However, CRR’s satellite monitoring detected a further deforestation occurred in 2018 which exhibited a clear violation towards its stop work order.
Sustainability Performance
- Deforestation within owned concessions (2016-2020): 9772 ha
- Peat clearance within owned concessions (2016-2020): 11 ha
- Peat forest clearance within owned concessions (2016-2020): 1979 ha
- Deforestation within current supply chain: not applicable
- Peat clearance within current supply chain: not applicable
- Peat forest clearance within current supply chain: not applicable
- Social issues: not available
Certifications
As per December 2019, the group is still seeking Malaysian Sustainable Palm Oil Supply Chain Certification Standard (MSPO SCCS) with one of its palm oil mill Kilang Sawit Kota Bahagia has finished preliminary MSPO SCCS audit. TH Plantations is also pursuing Malaysian Sustainable Palm Oil (MSPO) certifications for its plantations and mills operations, and right now all of its plantations and palm oil mills in Peninsular Malaysia, Sabah, and Sarawak have been MSPO-certified.
No Deforestation, No Peat, No Exploitation Policy
TH Plantations has a formal sustainability policy on the website, but the description does not fit well with the value of No Deforestation, No Peat, and No Exploitation (NDPE) policy as commonly understood in the palm oil industries. The sustainability policy encapsulates “zero burning policy” but does not acknowledge the utilization of High Conservation Value (HCV) forest and/or High Carbon Stock (HCS) forest assessment.It is said to aim on stringent management of peatland, but further explanation on zero peatland development commitment is not available. TH Plantations through its sustainability policy endorses human rights, i.e. a guarantee of fairness and equality, freedom to form and join labor unions, condemning forced labor, and prohibited child labor.
Supply Chain Links
TH Plantations appear in the supply chains of several companies with NDPE policy, which are AAK, ADM, Bunge Loders Croklaan, Cargill, Fuji Oil, IOI, Itochu Corporation, KLK, Louis Dreyfus Company, Musim Mas, Olam, HSA Group/Pacific Inter-Link, Wilmar, Avon, Colgate-Palmolive, Danone, Friesland Campina, General Mills, Kellogg’s, L’Oréal, Mars, Nestlé,P&G, PZ Cussons, Reckitt Benckiser, Hershey, Upfield, Unilever, Johnson & Johnson, and Vandemoortele.
Oil Palm Plantations and Palm Oil Mills Managed by TH Plantations
TH Plantations Berhad
Ladang Bukit Lawiang
Ladang Gunung Sumalayang
Ladang Ulu Chukal
Kilang Sawit Bukit Lawiang
Ladang Gunung Sumalayang
Ladang Ulu Chukal
Kilang Sawit Bukit Lawiang
THP Kota Bahagia Sdn Bhd
Ladang Kota Bahagia
Ladang Sungai Mengah
Ladang Sungai Buan
Ladang Sungai Merchong
Kilang Sawit Kota Bahagia
Ladang Sungai Mengah
Ladang Sungai Buan
Ladang Sungai Merchong
Kilang Sawit Kota Bahagia
THP Ibok Sdn Bhd
Ladang Sungai Ibok
THP-YT Plantations Sdn. Bhd.
Ladang Bukit Bidong
THP Sabaco Sdn. Bhd.
Ladang Sungai Tenegang
Ladang Sungai Koyah
Ladang Bukit Gold
Ladang Mamahat
Kilang Sawit Sungai Tenegang
Kilang Sawit Ladang Mamahat
Ladang Sungai Koyah
Ladang Bukit Gold
Ladang Mamahat
Kilang Sawit Sungai Tenegang
Kilang Sawit Ladang Mamahat
THP Bukit Belian Sdn. Bhd.
Ladang Bukit Belian
Ladang Jati Keningau Sdn Bhd
Ladang Jati Keningau
TH Usia Jatimas Sdn Bhd
Ladang Jatimas
TH Bonggaya Sdn Bhd
Ladang Klagan 1
Ladang Klagan 2
Ladang Klagan 3
Ladang Klagan 4
Ladang Klagan 5
Ladang Klagan 2
Ladang Klagan 3
Ladang Klagan 4
Ladang Klagan 5
THP Saribas Sdn Bhd
Ladang Kenyalang
Ladang Raja Udang
Ladang Engganga
Ladang Merbok
Ladang NCR Saribas
Kilang Sawit Ladang Raja Udang
Ladang Raja Udang
Ladang Engganga
Ladang Merbok
Ladang NCR Saribas
Kilang Sawit Ladang Raja Udang
TH Pelita Meludam Sdn Bhd
Ladang Tanjung Lilin
Ladang Semarang
Ladang Semarang
TH Pelita Beladin Sdn Bhd
Ladang NCR
TH Pelita Simunjan Sdn Bhd
Ladang Kepayang
Ladang Semalatong
Ladang Semalatong
TH Pelita Gedong Sdn Bhd
Ladang Gedong
Ladang Sematan
Kilang Sawit Gedong
Ladang Sematan
Kilang Sawit Gedong
TH Pelita Gedong Sdn Bhd
Ladang Sadong
Ladang Lupar
Ladang Lupar
TH Pelita Sadong Sdn Bhd
Ladang Sadong
Ladang Lupar
Ladang Lupar
Hydroflow Sdn Bhd
Ladang Sungai Kerian
Bumi Suria Ventures Sdn Bhd
Ladang Sungai Karangan
Ladang Sungai Arip
Ladang Sungai Arip
PT Persada Kencana Prima
Tarakan Office