THPLANT is breaking the channelTH Plantations Bhd.MYX:THPLANTamirulshahTH Plantations Berhad is an investment holding company under Lembaga Tabung Haji that cultivates oil palm in Malaysia and Indonesia, processes fresh fruit bunches, and markets crude palm oil, palm kernel, and FFB. It also operates a Forestry segment engaged in rubberwood harvesting. The fundamental picture is genuinely improving after years of earnings pressure. Net income surged 270% quarter-on-quarter to RM27.08 million in the most recent quarter, versus RM7.32 million the quarter before, with EBITDA standing at RM300.64 million and an EBITDA margin of 32.60%. Valuation is attractive. Simply Wall St estimates the stock is trading at 75.1% below their estimate of fair value TradingView, making it one of the most undervalued pure-play plantation stocks on Bursa. The forward P/E is approximately 4.42x — deeply cheap relative to regional and global peers. The company owns approximately 38 estates and six mills across Terengganu, Pahang, Johor, Negeri Sembilan, Sabah, Sarawak, and Indonesia Yahoo Finance — a large and diversified asset base. The key risk is debt load tied to Tabung Haji's historical restructuring, and any future CPO price reversal would directly compress earnings. THPLANT is currently priced at RM0.555, with a beta of 1.11 and weekly volatility of 1.80% — relatively low volatility compared to the broader market, suggesting institutional accumulation rather than speculative trading. Investing.com Key technical levels: Three near-term catalysts that could re-rate the stock higher: Dividend play — ex-date April 8, 2026. TH Plantations announced on February 26, 2026 a final single-tier dividend of 3.00 sen per share for FY2025, with ex-date April 8, 2026, entitlement date April 9, and payment on April 30, 2026. This creates an immediate buy window — investors will accumulate before the ex-date to qualify. Growing dividend trend. The dividend has been progressively increased from 1.5 sen in 2022, to 2 sen in 2024, and now 3 sen for FY2025 — translating to a forward yield of approximately 5.0–5.7% at current prices. Forum discussions highlight the possibility of a 4–5 sen dividend for FY2026 if CPO prices remain elevated. FCPO surge tailwind. With FCPO at RM4,657–4,774 per tonne and analysts forecasting an average of RM4,200/tonne for 2026, THPLANT's upstream-focused business model means every RM100/tonne increase in CPO directly translates into meaningful earnings uplift given its 38 estates. Current price:RM0.66 Entry zone:RM0.655–0.670 (current level, accumulate on dips) Add position:RM0.68 on confirmed breakout with volume Target 1:RM0.70 (immediate psychological resistance) Target 2:RM0.75 (short-term swing target) Target 3:RM0.80–0.85 (if FCPO sustains above RM4,500 + dividend momentum) Stop loss:RM0.625 (below RM0.63 support zone) Risk/Reward~1:2.5 Timeframe3–6 weeks (dividend ex-date April 8 + FCPO tailwind)