TH Heavy pressure

THHEs FPSO operations

PETALING JAYA: Loss-making TH Heavy Engineering Bhd (THHE), which was served with winding-up petitions from three parties for aggregate claims of RM38mil in the past week, may need to recapitalise its balance sheet if it is unable to resolve its cash flow woes.

Analysts said the offshore fabrication and marine services company, 30%-owned by Lembaga Tabung Haji (LTH), is in a situation where current cash flows are unable to service debt, while the option of external financing is tough.