TH Heavy frontrunner for Petronas fabrication contract

Nor Badli Mohd Alias, Group Managing Director & CEO of Lityan Holdings Berhad

Petaling Jaya: TH Heavy Engineering Bhd (THHE), whose stock price has more than doubled since mid-April, is close to winning a significant contract that would likely give it a re-rating of sorts, insiders said.

The offshore oil and gas (O&G) services provider, which is 29.29% owned by pilgrim fund Lembaga Tabung Haji and in which tycoon Tan Sri Quek Leng Chan has about 9.09% via GuoLine Capital Ltd (GCL) and his own name, hit a high of 96.5 sen on July 19.