KUALA LUMPUR: TH Heavy Engineering Bhd (TH Heavy) is not aware of any material corporate development relating to the business and affairs of the company and its subsidiaries over the spike in its share price.
“We are not aware of any rumour or report concerning the business and affairs of the group that may account for the trading activity,” the company said in a filing to Bursa Malaysia today.
The offshore fabrication and marine services company said it complies with the Main Market Listing Requirements, in particular Rule 9.03 of the Listing Requirements on immediate disclosure obligations.
Yesterday, Bursa Malaysia Securities Bhd issued an unusual market activity query to TH Heavy due to the sharp rise in the company’s share price and trading volume.
TH Heavy was reported to be close to securing a contract worth over RM700mil in a move to bail out the distressed company.
At mid-day, TH Heavy shares were half-a-sen better at 16.5 sen with 58.52 million shares transacted. - Bernama
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