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Quick take: TH Heavy shares hit by fines slapped by Dubai Court

KUALA LUMPUR: TH Heavy Engineering Bhd (THHE) shares fell over 8% in early trade Tuesday following news that its unit has been fined with US$6.22mil by Dubai Court.

Trading ideas: Petra Energy, EG Industries, Hartalega, TH Heavy

KUALA LUMPUR: Petra Energy Bhd, EG Industries Bhd, Hartalega Holdings Bhd and TH Heavy Engineering Bhd are among the stocks to watch on Wednesday, according to JF Apex Research.

THHE unit gets writ of summons from Dubai to pay US$6.23mil

PETALING JAYA: TH Heavy Engineering Bhd’s (THHE) subsidiary, Floatech (L) Ltd, has received a writ of summons filed by Drydocks World – Dubai LLC on April 23.

POSH Semco seeks IPO in Singapore

SINGAPORE: Offshore marine services provider POSH Semco, controlled by Malaysia’s richest man Robert Kuok, is seeking to list shares in Singapore in a deal worth S$300mil to S$500mil, sources said.

Kuok to take 60%-70% stake in Drydocks' Asia ops

DUBAI: Pacific Carrier Ltd., part of Malaysian tycoon Robert Kuok's empire, will take a 60% to 70% stake in its joint venture with Drydocks World's Southeast Asia business, a source close to the deal said on Wednesday.

Ramunia set to exit PN17 status

PETALING JAYA: Ramunia Holdings Bhd will complete its financial regularisation plan by end-July, said chief executive officer Nor Badli Mohd Alias.

Shareholders to decide on Ramunia’s future at upcoming EGM

PETALING JAYA: Come Wednesday, shareholders of Ramunia Holdings Bhd will have to vote on significant issues facing the once-troubled company.

Things finally looking up for Ramunia after securing new jobs

OFFSHORE oil and gas fabricator Ramunia Holdings Bhd, which is seeking more jobs from Petroliam Nasional Bhd (Petronas), may be on the path to recovery after clinching a job in March and securing a letter of intent from Sarawak Shell Bhd for jobs worth RM150mil.

Ramunia signs FPSO deal

PETALING JAYA: Ramunia Holdings Bhd has signed an agreement with Drydocks World-Dubai LLC and NTM Refection II AS for a floating production, storage and offloading (FPSO) deep producer vessel, known as the i>MT Laurita/i>.

Dubai removes shipbuilding arm from restructuring

DUBAI, United Arab Emirates: Dubai World, the state-run company at the heart of the emirate's credit woes, is looking to protect another of its prized assets as pressure mounts on the debt-saddled company to pay back its lenders.