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Associate company takes over RM3.37bil project originally awarded to THHE
KUALA LUMPUR: TH Heavy Engineering Bhd (THHE), formerly known as Ramunia Holdings Bhd, is cautiously optimistic of its outlook as the company is awaiting the outcome of tenders worth more than RM2bil.
PETALING JAYA: Parties linked to banking billionaire Tan Sri Quek Leng Chan have bought a sizeable stake in mid-cap fabricator TH Heavy Engineering Bhd (THHE) through a private placement announced on Monday, sending its stock up a sharp 15% to 53.5 sen.
THE future of cash-strapped TH Heavy Engineering Bhd (THHE) has come under the radar following concerns that it may not be able to deliver the anchor production facility for Japan’s JX Nippon-operated Layang field development - a project touted to take it out of its flagging fortunes.
KUALA LUMPUR: CIMB Equities Research has advised investors to accumulate shares of TH Heavy Engineering (THHE) following the recent share price fall brought about by the soft second quarter.
PETALING JAYA: Yinson Holdings Bhd has clarified that it is still currently in talks with Japan’s JX Nippon Oil & Gas Exploration (Malaysia) Ltd and TH Heavy Engineering Bhd (THHE), in regards to Yinson taking over the floating production, storage, and offloading (FPSO) vessel charter for JX Nippon.
PETALING JAYA: Shares of loss-making TH Heavy Engineering Bhd (THHE) attracted trading interest early on Friday over talk that bigger rival Yinson Holdings Bhd may offer a lifeline for some of the former’s assets, including the Layang oil and gas field off Sarawak that is reportedly at a standstill.
PETALING JAYA: In yet another sign of troubling times faced by oil and gas companies, TH Heavy Engineering Bhd (THHE) has sought to extend the maturity date of its debt papers by one year.