TH Heavy receives letter of intent from MMEA

PETALING JAYA: Loss-making TH Heavy Engineering Bhd (THHE), whose share price surged more than 200% in the past two weeks, has received a non-binding letter of intent from the Malaysian Maritime Enforcement Agency (MMEA) to supply three offshore patrol boats.

The offshore fabrication and marine services company told the stock market regulator that the letter of intent shall be subject to a mutual agreement between the two parties and that more details would be announced then.