TSH Resources' Indonesian Unit to Pay IDR184 Billion Administrative Fine
MT Newswires Live
Sep 28
TSH Resources (KLSE:TSH) unit Sarana Prima Multi Niaga will pay an administrative fine of 184.3 billion Indonesian rupiah, or about 42 million ringgit, in four monthly instalments, according to a Friday filing.
The fine relates to 1,228.9 hectares outside the unit's HGU area, of which 496.69 hectares were planted before TSH acquired the subsidiary, and 732.20 hectares were planted by local communities.
TSH said the fine will be recognised in its third-quarter financial statements, with no other material impact on its financial position and operations.
The company said there will be no reduction in its reported planted area.
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