“Generally, we avoid O&G but we like the floating, production, storage and offloading [FPSO] segment as its revenues are contractually locked in and its business is cashflow driven,’’ said Vincent Khoo, head of research, UOB Kayhian.

http://www.thestar.com.my/Business/Business-News/2015/09/14/Time-to-buy-oil-and-gas-stocks/?style=biz

Big players still inside.

ICPS-I listing today under THHEAVY-PB.
No seller at selling queue.
Buyer queue at 0.18.

TH bought at 0.25, if want to sell also at higher price for profit unlike those contra kakis that cant hold and sell at losses.

http://www.cnbc.com/2015/09/11/oil-may-be-nearing-its-final-capitulation-rr-founder.html

somchik: Yes...FPSO profit already in hand with RI fund injected in.
Eventhough RI undersubscribed, TH mopped up an additional 740.79 million of the ICPS-i shares beside its own alloted shares. In the RI proposal, already stated TH willing to buy the remaining ICPS-i shares not taken by other shareholders. TH wont inject RM275million if theres no contract that can generate profit in hand.

Currently waiting Petronas to annouce for Refinery and Petrochemicals Integrated Development (RAPID) project winner in Pengerang, Johor.

With new CEO from EX-petronas senior positions as operations head at Petronas Carigali (the exploration and production arm of Petronas) and country chairman of the oil giant’s operations in Sudan... better chance to secure big projects contracts. With biz financial issues solved, THHEAVY chance to secure project contract is much more higher also.

Good newsplay usually release after RI completed.

Hula: That's Golden Sach prediction/target future price..

Last time target abt 30, now say 20.

Oil price fluctuate every now and then.. some predict next yr oil price in the range of 55-60.
Different investment house gives different target.

http://money.cnn.com/data/premarket/?iid=H_MKT_QL

THHEAVY already get money from TH and can proceed with their FPSO projects that will generate profit next yr...oil price volatile but biz will still continues..

If see previous history of THHEAVY.. after RI completion price went up high

RM105 million raised via RI
http://www.klse.my/entitlement/111269.jsp
12 July 2012 onwards - 0.40+ up till 0.62

Same goes when issues Sukuk..

RM170million raised via SUKUK murabahah
http://www.thestar.com.my/Business/Business-News/2013/09/06/TH-move-to-issue-RM170m-sukuk/?style=biz

12 sept 2013 onwards - 0.78 up till 0.975 and later 1.05

======================================================

This time RI raised RM 275million..

Current price at 0.205 is so much lower than 2012 price 0.40.. before RI and also bfr exit PN17.

kenen & AnnH: Big player TH give financial support for THHEAVY via ICPS, things should be more stable currently. Next is ICPS-i + THHEAVY share price play...after pump in money.. the money have 2grow instead of shrink so share price have to move up for the value to increase higher..

THHEAVY share in downtrend mode past 5 months since high 0.455 pre RI.
Its been long overdue for uptrend rebound.

With RI completed, big players already get back into THHEAVY and start buying up the shares.
If they can push back THHEAVY price to its recent high 0.40++ it will be a good show.

Eg. of share that rebound strong after RI:

Yong Tai

before RI - 0.88
RI - 0.44
after RI - push up back till 0.81.

More newsplay on THHEAVY: http://www.thestar.com.my/Business/Business-News/2015/09/12/Can-THHE-make-it-the-second-time-around/?style=biz

http://www.thestar.com.my/Business/Business-News/2015/09/11/TH-Heavy-to-pay-dividend-rate-for-ICPSi/?style=biz

AnnH: Icps-i expiry in 5 yrs. Tabung haji can pump in rm275million for icps..small change for big players to push up price since thheavy current price is still 'low' compare to icps share price. Its just matter of time and their strategy. Next week monday is the icps listing. Thheavy price already move from low 0.13- 0.15 to above 0.20. Yesterday klci drop but thheavy still up till 0.22 and supported above 0.20 closing at 0.205.

There will be a new counter for thheavy icps trading next monday..its starting price will be based on its 0.25 subscription price unless there r seller or buyer will to sell lower or buy higher.

Thheavy price will be used as benchmark for icps share price since convertion is 1:1.

abdulrahim: U r welcome.

Previously THHEAVY AVG price 0.3966, 0.3240 & 0.3209 was taken into consideration for RI ICPS-i 16:15 at 0.25.

From the RI approved proposal:
===============================================
The ICPS-i will be issued at its par value of RM0.25 per ICPS-i. The Conversion Rate of the
ICPS-i has been fixed at 1 new THHE Share for every ICPS-i held. The issue price for the
ICPS-i and the Conversion Rate were determined after taking into consideration the prevailing
market conditions, market price of THHE Shares prior to the announcement of the Proposals
on 13 February 2015, the par value of THHE Shares as well as the gross proceeds of up to
RM300,000,000 intended to be raised by our Company.

Based on the Conversion Rate and the par value of the ICPS-i, the conversion price derived
is RM0.25 for every new THHE Share (“Implied Conversion Price”). Based on the assumed
entitlement basis of 16 ICPS-i for every 15 existing THHE Shares and the 5-day VWAMP of
THHE Shares up to and including the LTD of RM0.3966, the Implied Conversion Price
represents discounts of approximately 22.84% and 22.10% to the TERP of RM0.3240 and
RM0.3209 under the Minimum Scenario and Maximum Scenario respectively. In determining
the discount to the prevailing market price, our Board has taken into consideration the level of
discount that is likely to encourage broad participation in the rights issue exercise by our
Entitled Shareholders, while at the same time enabling our Company to raise the required
funds.

================================================

THHEAVY price was way oversold recently even lower than the RI 0.25 due to weak market sentiment and poor response.

After RI completed and have raised up fund, with ICPS-i convertion to THHEAVY at 1:1, THHEAVY price expected to move up back to 0.25 and higher to its previous AVG prior to the RI which is 0.32-0.39 range to reflect its +ve share price value and profitable convertion for its shareholders.

That is why can see for the past 1 week, bigger vol and buying strength increase + price start to move up push by the big players. The big players & big shareholders holding icps shares at 0,25, if THHEAVY price low, its not profitable for them to do trading and also not attractive for other retailers to buy.


As usual, do own due dilligence work if interested with this THHEAVY stock.

OTB have alot stock followers.. his stock pick quite good also.

0.16 & 0.165 also good entry. I wanted to buy earlier but my emergency fund only came in late Tues so bought at 0.17 & 0.175 on Wed.

abdulrahim: JX Nippon Layang contract and the Petronas Carigali Kinabalu Non-Associated Gas (NAG) Phase 11 project.

Usually big players will enter and push up price 1st.. the vol increase to attract other big players to join and later roll into bigger price spike up.. ICPS-I shares will attract other fund managers to invest if THHEAVY price is higher coz the conversion is 1:1.. if THHEAVY price lower... not many ppl will buy/trade icps-i shares.

somchik: Those who bought at 0.13 @ RM40k, 300000 units.. now at 0.21 paper profit about RM24K..
More than to 50% abdulrahim: JX Nippon Layang contract and the Petronas Carigali Kinabalu Non-Associated Gas (NAG) Phase 11 project.

Usually big players will enter and push up price 1st.. the vol increase to attract other big players to join and later roll into bigger price spike up.. ICPS-I shares will attract other fund managers to invest if THHEAVY price is higher coz the conversion is 1:1.. if THHEAVY price lower... not many ppl will buy/trade icps-i shares.

somchik: Those who bought at 0.13 @ RM40k, 300000 units.. now at 0.21 paper profit about RM24K.. more than 50% profit. :D

rishi: U are welcome. THHEAVY is definitely a challenging counter and alot investors/traders already gave up hope/shy away due to various negative factors especially when price drop to low price recently. I've invested in THHEAVY several time
since last 2 yrs... in and out several times. This year is the hardest coz oil price drop thheavy got hit badly and -ve RI response. I bought for pre-RI play earlier sold some at 0.45 but it failed to hold its price. When price start to move up slowly 0.15-0.16.. and confirmation of TH subscription, theres clear sign of big players buying/entering, i bought more for after RI play. Actually for me the best/safest play is after RI completed when the company have raise big money for its business operation.

Warren Buffet “attempts to be greedy when others are fearful” and this is how he became one of the richest man in the world through investing and trading. He turns every crisis into opportunities in stock investment.

Current confirm newsplay is TH already injected RM275million into THEAVY RI via ICPS shares at 0.25.

RI already completed and THHEAVY have big fund to continue operate its biz.
Next is to increase its share market value for both THHEAVY and ICPS-i shares.
Big shareholder and big players holding most of the shares and to boost back those shares price value, they have to push it up above 0.25 so can trade /convert the ICPS-i shares to THHEAVY later on.
If TH decide to do MGO also possible since they hold close to 80% share after convert the icps-i to THHEAVY shares. Maybe not that soon...

Today vol transaction is close to/higher than recent high vol trading.

15 Apr - 0.255
24 Jun - 0.37

Its just the beginning of the uptrend breakout 0.20 where more big players enter more convincingly and moving towards 0.25. If can break 0.25 .. next TP will be 0.30-0.40 range.. then it will be more exciting.

THHEAVY ntab 0.33, last private share placement 0.33, ICPS-i share 0.25..
Now thheavy only 0.215.. big players buy shares when small retailers sell last time..
Today, they buying more coz later price will be higher n higher for ICPS-i trading.

As usual, decide own if want to buy/sell or hold..

rishi: stock price is base on market sentiments and big players direction. Next is the stock fundamental, biz and stock fair value. Recent low price was way oversold. Oil price is just a guidelines for biz future prospect and profit.

Read the news and do some analysis why THHEAVY is moving up strongly.. basically now its not even reach its TP or share value yet.. still undervalue thats why the big players willing to buy more and push up price.

TH ady pumped in rm275million at 0.25. Big players accumulated at low price + avg down.
Time to move up back.. Rebound been long overdue..

somchik: will move up more...takes some time. This THHEAVY got alot money from RI.. + ICPS-I share if can sell back later, they can double the money.. but they need to push price up more..
+ earlier if those big players sapu accumulate rock bottom price 0.13-0.16 ... later after price up... they also can sell for profit... if price no up.. they cant get good profit.

Really tough counter..thats why big players like it.

Convertion from ICPS-i to THHEAVY is 1:1 with icps-i expiry in 5 yrs time.
If Tabung haji want to trade/convert its ICPS-I shares, THHEAVY share price should be pushed up higher than 0.25 to make it more profitable instead of losses.

It will depend on the big player direction how long or how fast they can do it.

http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=591731:only-subscriber-tabung-haji-injects-rm275mil-into-oil--gas-unit&Itemid=3#axzz3lK0yoAK3

MARKET MATTERS - COMPANIES IN THE NEWS NO LOVE FOR TH HEAVY https://www.youtube.com/watch?v=SWFQPubOJD8

http://www.thestar.com.my/Business/Business-News/2015/09/09/More-money-into-TH-Heavy/?style=biz

Tabung Haji injects RM275mil into oil and gas company through rights issue

PETALING JAYA: Lembaga Tabung Haji emerged as the sole subscriber for TH Heavy Engineering Bhd’s rights issue of preference shares to raise RM275mil.

At the close of the exercise yesterday, the issue, which is a rights issue of Islamic irredeemable convertible preference (ICPS-i), was heavily under-subscribed at 69.96%, underlining the weak sentiments related to the oil and gas sector.

In an announcement yesterday, TH Heavy said it had received valid acceptances for a total of 359.2 million of the 1.2 billion available for subscription at 25 sen each.

Shares in TH Heavy closed at 17 sen yesterday. It had fallen 43% so far this year.

Based on the under-subscription and additional undertaking, Lembaga Tabung Haji had to subscribe to an additional 740.8 million units to ensure the exercise meet its minimum amount.

A total of 1.1 billion units of ICPS-i will be issued at 25 sen each.

TH Heavy is the oil and gas arm of Lembaga Tabung Haji that has a 29.81% stake in the company. The pilgrim fund first bought into the company in 2008.

The undersubscription does not come as a surprise because oil prices had halved from where it was a year ago. TH Heavy, a service provider, made a loss last year.

For the year ended Dec 31, 2014 (FY14), the company recorded a loss of RM76.45mil from a net profit of RM8.2mil in FY13.

TH Heavy first announced its fund-raising plans in October last year after the company had secured a RM2.6bil contract to provide floating production, storage and offloading (FPSO) unit.

The contract was secured from Japan’s JX Nippon Oil & Gas Exploration.

The contract entails TH Heavy providing its FPSO facility to JX Nippon for the Layang oil and gas field, located off Sarawak.

The project was expected to start contributing to the company from the third quarter of 2016 onwards.

TH Heavy had originally planned to raise RM450mil together with a bonus issue of new TH Heavy shares.

The money was intended to finance the conversion of its FPSO and the upgrading of its Pulau Indah fabrication yard. TH Heavy is currently in the midst of converting its FPSO.

However in February this year, the proposed fund-raising exercise was revised to take into account the sharply lower share price of TH Heavy.

The total cost of the FPSO was estimated at US$230mil or RM875mil at that time. The company said it would use RM152mil from the rights issue exercise to pay for the FPSO.

It would also pay out a 20% dividend based on the nominal value of the ICPS-i, which will be payable for up to a five-year tenure.

As at the latest practicable date, the group has a total outstanding borrowings of about RM527mil, where its short-term borrowings are at RM281mil and long-term borrowings at RM246mil.

With RI ICPS raised RM275million + potential savings abt RM30 million + submitted bids worth RM881million with coming RM1 billion tender being planned..

Usually after RI completed, there will be some +ve newsplay coming up to boost share price.
Looks like some +ve newsplay already out.

http://themalaysianreserve.com/new/story/th-heavy-engineering-sees-rights-issue-undersubscription-6996

TH Heavy Engineering Sees Rights Issue Undersubscription Of 69.96%
Wednesday, September 9, 2015

TH Heavy Engineering Bhd (THHE) renouceable right issue of 1.195 billion new Islamic irredeemable convertible preference shares (ICPS-i) has been undersubscribed by 69.96%. At the close of acceptance, a total valid acceptance of 358.94 million represent about 30.02% of the total shares offered. In a filing to the exchange yesterday, THHE said Lembaga Tabung Haji with additional undertakings had subscribed for a total of 740.78 million rights shares. This had enabled THHE to achieved the minimum subscription level for the rights issue. THHE stated total gross proceeds from the rights issue amounted to RM275 million, adding that the ICPS-i are expected to be listed and quoted on the Main Market of Bursa Malaysia Securities Bhd on Sept 14, 2015.

http://www.themalaysianinsider.com/business/article/th-heavy-chairman-resigns-over-conflict-of-interest

New TH Heavy CEO To Deliver Within Schedule Two Major Contracts
http://bernama.com/bernama/v8/bu/newsbusiness.php?id=1169722

TH Heavy had embarked on a group-wide transformation exercise involving four bundles of initiatives.

Nusral said as one of these initiatives, TH Heavy was fabricating the Layang FPSO topside at its Pulau Indah yard instead of constructing it in Dubai, thus making substantial savings.

"Potential savings of about RM30 million is also expected to be realised through outsourcing of hook-up and commissioning works," he said.

Nusral noted that given the low oil price for long scenario and the presence of seven other local fabricators, TH Heavy is considering moving beyond the offshore fabrication business to deliver better value to its shareholders.

"We have identified a number of opportunities, both in the upstream and downstream sectors of the oil and gas (O&G) industry, for evaluation in terms of strategic fit and value generation," he said.

TH Heavy has submitted bids worth RM881 million while an estimated RM1 billion tenders were being planned for submission.

The bids were for O&G projects covering both the upstream and downstream sectors.

kian Yap: I just load up some at 0.17 & 0.175. Big players already enter last week, there some contra kaki exit on mon/yesterday drop till 0.16 but big players still buy & accumulate back strongly till 0.18.

Next week is listing of ICPS shares.... those big shareholder TH/big player hold alot subscribed at 0.25.. price have to move up so they can trade their shares also later on.

As usual, buy/sell/hold is own decision. Good luck.

Follow the trend, follow the big players, follow the market.

Buying & selling queue today quite high.
Price been hovering 0.17+/- since last Tuesday.

Breaking 0.20 is the target for the big players, moving towards 0.25 for the coming listing of ICPS shares. They holding 50% of total shares since THHEAVY-PR not much buyers.

Buying/selling queue vol increased... transaction vol increased. Already in top active boards.

Flush over, time to shine. Rebound stronger today.

Buying strength/pressure up today.

THHEAVY corporate video. https://www.youtube.com/watch?v=jjZ62CBb9tE

Cleared 0.165 ...+ve buying strength. Rebound start.

Broke 0.15 lvl,.. headings towards 0.20 lvl if buying pressure can increase more.

THHEAVY need big players re-entering to push up the price further.
If just retailers players, price movement usually sideways or just consolidate.
Vol have to increase and buying % higher to breakout/rebound from recent low.

With ICPS shares listing in coming weeks, THHEAVY main shares have to catch-up with the price differences fast. Its not profitable to trade ICPS shares if its price is much higher than the main THHEAVY shares where the convertion is 1:1. It should be the other way price to make trading and convertion more profitable.

In stock market... anything can happen.. THHEAVY is one of the stock that can swing up and down
Very volatile counter especially affected by oil price & market sentiments.

In 2012, price drop till 0.30+ and rise up back till 0.63,
In 2013 price 0.40 rise up till 0.965
In 2014 price 1.05 drop till 0.275
In 2015 0.29 up till 0.455 drop till 0.13

yonghuisee: Ur entry price 0.685 is very high. It will need a very strong catalyst like THHEAVY secure big projects, Oil price up, bullish market etcs to boost its price.

It will be good if THHEAVY can move towards the price range before RI which is 0.30 - 0.40++.

Other stock after RI usually move up much higher if theres strong support from big players/shareholders.

16:15 RI at 0.25, means 16 new discounted shares (ICPS) offered to subscribe at 0.25 perunit for existing 15 main THHEAVY shares, The main THHEAVY shares should be higher than the RI new share price to attract shareholders to subscribe. If main share price is lower, its not attractive to subscribe and will only subscribe by TH & underwriters . Normally THHEAVY price should goes up >0.25 before ex-RI and later after ex-RI price adjusted to 0.25+/-

Conversion ICPS to THHEAVY is 1:1 without any money involve if want to convert to THHEAVY
but since its convert share, it will follow as THHEAVY share price.
THHEAVY main price also must be higher so later ICPS share convertion will not lose it share value price at 0.25.


But current THHEAVY price already much lower than the RI price and also the convertion price due to weak market sentiment and shareholders confidence.

In order to regain back share market capital value and for ICPS convertion, THHEAVY price
have to move higher than 0.25, if not ICPS convertion will be at lost profit.

Usually stock will rise after RI completed and +ve news coming out to support it.
THHEAVY stock need to rebound up to regain back its share market capital value.

Once RI completed & subscribed, THHEAVY raised RM300million for their biz operation.
The new rights securities shares at 0.25 will be able to trade/convert on 14/9/15 onwards.
The convertion to THHEAVY is 1:1 and have 5 yrs to expires.

This THHEAVY getting alot sell down with oil price weaknesses + volatile market.

From 0.82 Oct last year proposed RI + bonus issue 5:1, Nov 14 price drop till 0.475.

Warrant expiry on dec 14 with conversion 0.50, but THHEAVY share went even lower price to about 0.35+/- making convertion not profitable and RI cancel.

New proposed RI at 0.25, 16:15 for ICPS and convertion back to THHEAVY at 1:1.
Price drop from 0.455 to 0.35. 0.30, 0.25, 0.20, 0.18, 0.16 till 0.135.
Even lower than RI price making the renouceable THHEAVY-OR not profitable to trade and lapsed goes to TH & underwriters to subscribe.

Current transaction more towards contra retailers and price still not moving up /rebound yet.

Listing of new RI shares in 20 days...on 14/9/15.

Thheavy-PR trading date already over,

Listing Date of the Rights Securities : 14 Sep 2015

Current price really oversold, its been drifted far from its RI offer price 0.25.

RI for ICPS shares at 0.25. Ur main THHEAVY shares still maintain as per market price.
After u convert ur ICPS share to THHEAVY then only it will be pro-rated.

If price exceed 0.25, ICPS & THHEAVY both will in profit if ur pro-rated price is 0.21.

Conversion for ICPS to THHEAVY shares is 1:1.
ICPS subscription RM0.25. THHEAVY current share price 0.14
To convert main share THHEAVY, price have to be higher than 0.25.

freshkaki: u can read back my previous posting on RI & ICPS..

1. Yes, if u have THHEAVY share bfr ex on 12/8/15.. u entitle for RI to subscribe ICPS share at 0.25 ...
2. 17-24/8/15... u can sell ur entitlement or buy more or do nothing..
3. Price to subscribe for the RI new ICPS share
4. If u bought 0.185, it still follow current main THHEAVY price.

The new ICPS have convertion 1:1 to THHEAVY shares.

ICPS already have buyer even for the unsubscibe remaining RI.. TH will sapu all.

Main THHEAVY shares support today close to 0.155/0.16 still holding back and lagging.

Somehow the big players have to balance/push up THHEAVY price since the ICPS-i share subscription is 0.25 unless they want their ICPS-i adjusted lower later..

It will be odd if later traded separate counter with 2 different price when the conversion is 1:1.

The rebound is still "weak" compare to its heavy plunge from recent high price 0.455.
Its price also not higher than RI offer price 0.25. Still need more buying strength to break higher from its current low price.

OR trading till next week but response so far is poor... its likely for TH to increase their shareholding in THHEAVY possible MGO in the future .

From the RI proposal:

LTH may potentially increase from 29.81% to 64.57%.
However, the actual shareholdings of LTH would depend on amongst others, the timing and
actual number of ICPS-i held which are converted into new THHE Shares.

The conversion of the ICPS-i held by LTH may result in the shareholdings of LTH exceeding
33% of the voting shares in our Company at any point in time. In such event, LTH would be
obliged to extend a mandatory take-over offer for all the remaining THHE Shares and
convertible securities not already owned by them pursuant to the Code.