THHE not buying ICE Petroleum Engineering

THHE also confirmed a recent report by StarBiz that the company is in talks to buy the remaining 51% stake in its joint-venture company with Destini Bhd to build offshore patrol vessels.

PETALING JAYA: TH Heavy Engineering Bhd (THHE) will not be buying ICE Petroleum Engineering Sdn Bhd, after both companies mutually decided not to extend the non-binding memorandum of understanding (MoU) regarding the deal.

On March 13,2020, THHE said it had entered into a non-binding MoU to acquire ICE Petroleum Engineering from ICE Petroleum Ventures Sdn Bhd.