MMHE looks abroad

Abu Fitri: ‘We are hoping to land one big project at least by early next year.’

PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE), an oil and gas (O&G) services provider, is clearly facing challenging times, considering its depleting order-book and a need to increase the utilisation of its massive fabrication yard in Johor.

Like several other O&G services providers, MMHE’s share price has been on a downward spiral. The company saw its shares traded as low as RM1.07 last month, down 66% from a year ago, losing about RM4.1bil in market value during that period.