KUALA LUMPUR: TH Heavy Engineering Bhd
(THHE) has extended the maturity period of its non-rated sukuk murabahah of RM170mil, which was originally due on Sept 30, 2016, by one year.
The loss-making offshore oil and gas (O&G) structure fabricator, which now seeks more opportunities in onshore fabrication and downstream O&G sector, told Bursa Malaysia that the principal adviser for the sukuk, MIDF Amanah Investment Bank, had written to the Securities Commission on its behalf to update the regulator on the extension to Sept 29, 2017, as well as the status of compliance with the relevant requirements.
THHE had issued the three-year sukuk murabahah of RM170mil in September 2013 with a profit rate of 7% per annum.
THHE’s biggest shareholder is Lembaga Tabung Haji (29.81% stake).