KUALA LUMPUR (Oct 22): TSH Resources Bhd (KL:TSH) has responded to queries from the Singapore Stock Exchange (SGX) over recent forest and peatland fires in Indonesia, denying that its plantation operations contributed to the transboundary haze.

In a filing with Bursa Malaysia on Thursday, the group said it had not been named or issued any notice by environmental agencies in connection with the recent haze, adding that the SGX enquiry was a general request for information on its fire prevention and management measures.

TSH Resources said 274 hotspots were detected within its estate boundaries between Jan 1 and Oct 21, 2026, but all were located in community enclave areas outside its planted and operational areas. Its field teams responded to and extinguished the fires, with police reports lodged in connection with the incidents.

According to The Straits Times, TSH Resources was among seven publicly traded companies identified by Singapore Senior Minister K Shanmugam on Oct 19 as having received enquiries from SGX.

In its response, TSH Resources said its Indonesian operations, concessions and other assets had not been affected by the recent forest and peatland fires, and maintained that its activities within its concessions had not contributed to the haze.

The group also disclosed that a localised fire occurred on Aug 17 within the land concession of its 90%-owned subsidiary, PT Bulungan Citra Agro Persada (BCAP). However, it said the fire originated in a community enclave outside BCAP's operational area and was extinguished on the same day. BCAP lodged a police report and continues to cooperate with the relevant authorities.

Separately, TSH Resources said it received an enquiry from Apical Group's sustainability department on Sept 1 regarding hotspots at another 90%-owned subsidiary, PT Farinda Bersaudara. The group said the hotspots were located in community enclave areas outside its operational areas, and Apical was satisfied with its clarification. No further official enquiries had been received, it added.

TSH Resources said it spends an estimated RM2 million annually on fire prevention, monitoring and firefighting measures in Indonesia.

Its zero-burning policy, formalised in its Group Sustainability Policy in May 2009, prohibits the use of fire for land preparation, new planting and replanting, and applies to all group companies, contractors and suppliers. The group also said it had not undertaken new planting on peatland after Dec 31, 2015.

Its fire prevention measures include satellite-based hotspot monitoring, 28 firefighting squads comprising 425 firefighters, 123 fire towers and 11 drones. All its Indonesian estates are certified under the Indonesian Sustainable Palm Oil scheme and undergo regular third-party audits.

The group said the matters raised by SGX were not expected to have any material operational, financial, legal, regulatory or reputational impact, and that no further disclosure via SGXNet was necessary.

According to its 2025 annual report, TSH Resources, through its subsidiaries, has land interests in several Indonesian provinces and in Tawau, Sabah. The total net book value of these assets stood at RM964.46 million as at end-December 2025.

At market close on Thursday, TSH Resources' shares were unchanged at RM1.14, giving the group a market capitalisation of RM1.46 billion.