THHE buys Destini’s stake in shipping JV


TTHE said the proposed acquisition of the stake in THHE Destini Sdn Bhd (TDSB) was in line with the group’s intention to grow its shipbuilding and ship-repair business. THHE currently owns 49% of TDSB.

KUALA LUMPUR: TH Heavy Engineering Bhd (THHE) is buying out its 51% partner Destini Bhd’s stake in a shipbuilding company for RM121,131.

TTHE said the proposed acquisition of the stake in THHE Destini Sdn Bhd (TDSB) was in line with the group’s intention to grow its shipbuilding and ship-repair business. THHE currently owns 49% of TDSB.

Meanwhile, Destini said the proposed disposal of its stake in TDSB would allow the company to shift its focus from marine manufacturing to marine services.

The proposed disposal would also enable Destini to build and strengthen its other divisions such as energy and rail and land transport, it added.

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