Gearing level: THHE’s gearing level stands at 1.4 times.
PETALING JAYA: TH Heavy Engineering Bhd (THHE) has officially started work on its floating production, storage and offloading (FPSO) topside for client JX Nippon Oil & Gas Exploration of Japan in Pulau Indah, a project that should help its ailing fortunes.
Recall that THHE had won the FPSO project, worth US$900mil, from JX Nippon in May 2014. This is the company’s first FPSO project.
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