Theres some buying for THHEAVY-PR at 0.005 today.
Some buyer willing to buy more PR to subscribe for additional ICPS shares instead of THHEAVY shares. Really odd trading since main share still far away from 0.25.

Main THHEAVY shares still lack of strong buyers and price still not supported well.


From the RI announcement:

"As at the LPD, LTH holds 334,162,107 THHE Shares, representing approximately 29.81% of
the issued and paid-up share capital of our Company. Under the Minimum Scenario,
assuming only LTH subscribes for its entitlement of 356,439,580 ICPS-i and subscribes for an
additional 743,560,420 ICPS-i pursuant to the Undertaking and Additional Undertaking, LTH
will be issued 1,100,000,000 ICPS-i. Assuming full conversion of the ICPS-i based on the
Conversion Rate, the shareholdings of 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.

In this regard, LTH has confirmed that they will at all times observe and comply with the
provisions of the Code"

yongyou: Have to see whether any buyer queues to buy the OR tomorrow onwards till 24/8/15.

Maybe theres some buyer that want to buy the OR and subscribe for the RI to get dividen and future price growth. If no buyer cant sell and will lapse once the trading days over.

The main issue here is THHEAVY share price been weaken so much and the main shareholders didn't support /push it up to attract shareholders/ buyer to subscribe for the RI..

Weak oil price, bad market sentiment and contra player sell down affects THHEAVY price.
TH as main shareholders seems more to saving their money to subscribe for the RI instead of pushing up the price before complete RI. The bigshareholders need to support & push up to stabilize the share price so can move higher later on. They also been affected with low share price currently.

Previouly before Thheavy warrant heavy play end of dec last year, price also sell down badly from 0.51 till 0.275 and after warrant expired, share price rally up back to 0.39 - 23/1/15 and 0.455 - 16/2/15 with good vol.

Need good news play and support from big players to push up price.

OR trading 17-24/8/15.

Since THHEAVY main share current price is cheaper than RI price, its much cheaper entry for buyer to buy main shares 1st unless theres some changes and rise in its share price next week.

Joy: U are welcome.

Many O&G stock price drop more 50%++ even big player SKPETRO oso drop alot.
THHEAVY drop the most from recent high of 0.455.

Theres attempt to push the price >0.25 for OR trading before recent hari Raya but was hammered down by selling pressure to 0.20 and after ex-RI drop further 0.16-0.15.

RI offer price at 0.25 and those who subscribe definitely paying premium from THHEAVY main shares instead of getting discount price.

Joy: Yes, the shareholders can decide not to subscribe the RI.

http://www.investopedia.com/articles/stocks/05/062905.asp

OR renounceable rights - those entitle for the RI can sell their OR if theres buyer wiling to buy.
If no buyer the OR will lapse and ICP-I will subscribe by TH and underwriters abt RM300million will be converted as THHEAVY shares later in Sept.

TH and underwriter have to pay premium to subscribe and take all the remaining RI shares at 0.25 for RM300millions and when convert to THHEAVY shares, it will follow the main share price..

At current price, its really not balance up the RI offer price after complete the whole process unless it move up higher than 0.25.

Oil price drop, KLCI drop, ringgit drop.. so many bad sentiments..Contra kakis exit and lack of buyers.

Price support lvl broke so far away and price trading 0.15 - 0.16 range from RI price 0.25.

At current price 0.15/0.155 its indeed low and yet still not much buying support.

Once all the sellers get lesser, price will move up faster when big players starts to buy up in big vol.

Previously THHEAVY price spiked up fast after RI completed.
Its price also spike up fast several times when theres +ve newsplay or new project secured.

Usually, all the good +ve news will release after RI completed to boost its share price.

With TH & underwriters able to subscribe for all remaining icps shares, they don't rely much on retailers shareholder money unless they push up price to play OR next week and also push up price when icps convert to THHEAVY shares in Sept.

Current play is more focus on RI, OR trades and after RI complete.
Price movement so far been weak, need to stable down and move up once RI raise new fund rm300million completed.

Mat Cendana: Ur welcome.

Its actually very odd coz after ex-ri the price still can drop further till 0.135 early morning before stable up back to 0.15. Why there are still sellers after ex-RI 1st day ? Unless panic sell or still have selling pressure pushing down price to get more cheap shares back.

The right issue is 16:15 not 2:1...from 0.25 offer price.. but current price seems like pushing lower down to almost more than half the NTA 0.33 share price and the big shareholder/players not even support it much.

OR play will be affected coz hard to sell unless theres demand from buyer or price rebound higher in coming days/next week.

Those who subscribe for RI still have to pay 0.25 for ICPS shares and their share value will be adjusted/follow as per THHEAVY share price next month.

yongyou: only on 14/8/15 the OR will enter to acct.
17-24/8/15 - for OR trading.

tlbeng: Its more on selling pressure that keep lower the price much..
After price ex-ri still have ppl selling and queue to sell..
Its odd coz those who don't want the RI most of them already exit bfr ex but now still want to sell? Seems like very hard rinse to collect shares at cheap price and prevent OR trades..

The biggest "winner" that benefit will be TH & underwriters but their market share value also shrink a lot unless they push up back after RI completed.

Last day before ex, really pressing down price further from RI offer price.

Mat Cendana: Yes, its indeed a heavy game. Private share placement at 0.33, nta at 0.33, fpso project in hand worth rm 2.7 billion but price keep hammered down much below its RI offer price.

Not much buying/support shows the big shareholders most likely want to accumulate /avg down their share price and sapu all the icps shares since the demand is low due to Oil market price weak and bad market sentiments.

rishi: OR trading is for those who want to buy extra ICPS shares and those who want to sell off their rights. It will depend on buyer/seller demand and queue price. If no buyer, the OR will not be able to sell off and will lapse. All lapsed OR will be bought over by TH & underwriters as per the RI approved proposal.

Tycoon Analyst: If LTH & underwriters subscribe all the new ICPS, their shareholdings in THHEAVY shares will be about 70-80%. LTH have invested since Ramunia and also subscribed 2 ICPS shares in 2012 before...

http://www.themalaysianinsider.com/malaysia/article/pkr-reveals-more-losses-for-tabung-haji-in-deal-with-oil-and-gas-company

LTH avg price should be quite high... they need 2 avg down and also push up price to be in profit zone. Just don't know when...
====================================

Ya.. its indeed disappointing the big shareholders not support & push the price yet.
Whether theres any price movement during the OR trading dates & after completed the whole conversion of new shares is still waiting 2 unfold..

Tomorrow is the last trading date before ex-RI on 12/8/15 and OR in acct on 14/8/15
Those still holding the THHEAVY shares will be entitled for the OR & option to subscribe for the ICPS shares at 0.25.

OR trading dates 17 - 24/8/15.

If THHEAVY share price still low from the RI offer price, TH & underwriters acquire back all the OR without any additional cost and subscribe all the remaining ICPS shares at 0.25 to raise abt RM300million to support biz operation especially their major fpso contracts

Unless theres demand from buyer for the OR n THHEAVY shares up during the OR trading dates period.

Conversation ratio 16:15

Listing of new shares 14/9/15

RI ex date info.

Those buyer/sellers need to trade with enough fund and not contra to subscribe/register for the RI.

rishi: oil price drop, foreigner selling/pullout from Malaysia stock exchg.

http://m.malaysiakini.com/news/307674

http://www.bloomberg.com/news/articles/2015-08-05/oil-trades-near-lowest-since-march-amid-ample-u-s-inventories

Market sentiments bad.

Sharing info. Free service.

Those subscribe for RI at 0.25 will be making losses if they want to sell down their shares at lower price. Those who don't want the RI most already sold much earlier.

Whereas the big players holding the bulk shares after RI, avg down their THHEAVY price by buying back at cheap price earlier if still want to sell cheaper later then it wont benefit them much also.

RI is indeed not a simple thing.. have to see its RI offer price and have many shares : offer for the rights.

AX RI different offer price and shares offered for the rights also lesser 3:4.. price after ex
also fluctuate close to the RI price.

TH can use their own fund to take up the RI coz its under Islamic preference share with dividen option, later after raise abt RM300million can use it to improve THHEAVY biz operation and push up share price as well.

Either some contra kaki exit or some big players still control price, push down price to collect low.. eg 0.20.. later when subscribe ICPS at 0.25, their avg price abt 0.225 or lower, after RI and OR complete, if price move up their shares will be in +ve zone.

Invested few rounds in THHEAVY in and out since last year and this year.

Rishi:

1) Can only trade buy/sell the OR on 17-24 August.
There will be new THHEAVY-OR with the no. of shares based on Thheavy shares buyer hold before ex-RI. THHEAVY-OR will be traded separately from THHEAVY counter.

===================================
Entitlement is 16 iicps : 15 Thheavy shares
Ex on 12/8/15
Entitlement on 14/8/15

OR trading dates
Date for commencement of trading of rights 17 Aug 2015
Date for cessation of trading of rights 24 Aug 2015
Listing Date of the Rights Securities 14 Sep 2015
=======================================

OR starting price? It will be base on THHEAVY price after ex-RI and also the demand for the ICPS-I shares through 17/8/-24/8 as per THHEAVY trading price.

Since the ICPS-I to subscribe offer price is 0.25 per share, those who want to buy the OR
will see THHEAVY share price as its a direct reference share value.

If THHEAVY price close higher and after ex-ri price > 0.25, the OR value will be better

Investor can choose to buy THHEAVY-OR and convert to ICPS-I.

Eg,,, if THHEAVY share price after ex-RI = 0.25 and move higher to 0.30 by 17/8/15

the OR might be trading for around 4sen+/- because its cheaper after convert to ICPS-I
=====================================================

By 14/9/15 all ICPS-I shares will be listed as THHEAVY shares and follow THHEAVY share market price.

Those who buy OR and subscribe/convert to ICPS shares at 0.25 or more sure want THHEAVY price after 14/9/15 go above 0.25 to have +ve value..

ICPS-I is not a warrant, its ordinary shares but with fix dividen options benefit tie to and traded as THHEAVY shares.

Hope my info is clear. Better chk with remisers to confirm.

Right issues for icps-i at 0.25. TH & others that subscribe still have to pay 0.25 for the icps shares.
ICPS-I shares after 14/9/15 will be traded as THHEAVY shares counter.

stockinsider: Are u referring to Pengerang project?

http://www.4-traders.com/TH-HEAVY-ENGINEERING-BHD-6498316/news/TH-Heavy-Engineering-Bhd--gets-Nippon-Oil-EPCIC-deal-18459843/

Badli noted that THHE has at hand the Pengerang Refinery and Petrochemical Integrated Development onshore fabrication project. It is confirmed by Petroliam Nasional Bhd.
"It will take a few months before we see any results," he said.

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

VinTek: Its stated in the proposal.. u can read as I've posted earlier.
Shareholders had approved of a rights issue of up to 1.2 billion Islamic irredeemable convertible preference shares (ICPS-i) of 25 sen each that will raise up to RM300 million.

Here for easy reference.

=============================
From the proposal, LTH have confirm has sufficient fund to subscribe its entitlement and as well subscribe remaining ICPS

Notes:
(1) Based on 1,121,077,190 Shares in issue as at the LPD.
(2) Based on 1,100,000,000 ICPS-i to be issued under the Minimum Scenario.
(3) Based on 1,195,815,669 ICPS-i available for subscription under the Maximum Scenario.
(4) Under the Maximum Scenario, all our Entitled Shareholders are assumed to subscribe for their
respective entitlements in full and as such, LTH is not required to subscribe for any ICPS-i
pursuant to its Additional Undertaking.

Accordingly, LTH has confirmed and HLIB has verified, to the extent possible, that LTH has
sufficient financial resources to subscribe for its entitlement of up to 356,439,580 ICPS-i as
well as to subscribe for up to 743,560,420 ICPS-i pursuant to the Undertaking and Additional
Undertaking, respectively.

In the event the Minimum Subscription Level is not achieved whereby the proceeds raised
from the Proposed Rights Issue of ICPS-i falls below the minimum proceeds required, our
Company will not continue with the implementation of the Proposed Rights Issue of ICPS-i. All
monies received will be returned immediately, without interest, to our Entitled Shareholders
and/or their renouncee(s) who have submitted their applications for the subscription of the
ICPS-I.

=============================
The approved RI & OR :
Renounceable rights issue of up to 1,195,815,669 new Islamic irredeemable convertible preference shares of RM0.25

TH and underwriters have to complete the right issue for 0.25 by subscribe for its entitlement and take up the remaining additional rights under the Maximum Scenario...

Existing shareholder of THHEAVY will get the OR / option to subscribe for IICPS shares at 0.25
Entitlement is 16 iicps : 15 Thheavy shares
Ex on 12/8/15
Entitlement on 14/8/15

OR trading dates
Date for commencement of trading of rights 17 Aug 2015
Date for cessation of trading of rights 24 Aug 2015
Listing Date of the Rights Securities 14 Sep 2015

Basically its really depends on the main THHEAVY share price before the ex-date of RI to get the value

My basic & simple calculation:
eg: if THHEAVY ex at closing price 0.25 sen.

16 iicps : 15 thheavy

15 X 0.25 (THHEAVY market closing price) = 3.75
16 X 0.25 (RI offer price) = 4.00

Share price after ex
7.75 /31 = 0.25

If THHEAVY price close higher eg. 0.30, the price after ex will be more attractive at 0.27 and if can maintain till OR trading days for those who bought the RI at 0.25 or want to sell the OR with value.

If close low eg. 0.20, price after ex at 0.225, OR no value unless bfr 17/8/15 OR trading dates, THHEAVY shares move higher than 0.25.

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

For better info, pls call remisers coz theres are other ways to calculate RI ex price also.

When oil price up/down but no project secure then its bad for biz.
THHEAVY already have 1 big project in hand worth abt RM2.7 billion that can last 7+10 yrs and
looking for more projects. With RI completion later, biz operation will be more stable.
TH and underwriters have to absorb n do the pushing for the RI coz its as per the right issue price.

Theres alwys big buyer queue at 0.20/0.195/0.19 past few weeks..and also big seller queue at 0.205.
The buyers support/collecting at around that price and at the same time luring seller to sell at 0.20/0.205.

Usually if theres any good news announcement, they will do it after ex-OR to maximize the stock price up movement coz the big players already collected a lot shares back at cheap price.

Icps shares at 0.25 and buyer will get 2 buy 16 icps for every 15 thheavy existing own shares.
Icps shares follow thheavy share price n buyer can get fix dividen for 5 yrs if business is profitable. Those who didnt subscribe icps share unable to get the dividen.

TH n underwriters also willing to buy all the unsubscribe ri and or as its a much better shares with dividen.

Currently thheavy is one of the cheapest oil n gas stock. Its fair value based on recent nta is 0.33.
0.25 is actually the discounted price from 0.34-0.39 previous traded price before the ri proposal out.

As usual, decide ownself if interested 2 invest in thheavy.

Those hold THHEAVY shares buy the OR can subscribe ICPS to get the dividen
and also profit from THHEAVY shares price growth in future

If not subscribe to RI ICPS, only THHEAVY share price growth..

Since THHEAVY shares price is around bottom lvl, once RI completed,
hopefully its price will move up towards its current fair value.

Previously Ramunia also value >rm1 with business revenue only RM470million..
http://www.thhe.com.my/index.php/2005/12/ramunia-upside-35-6/

before facing business financial issue and drop till RM0.20+/- before raise fund for RI ICPS also..
after RI and change to THHEAVY, exit PN17 price went up back to > RM1
now history repeat again... even now with business revenue RM2.7 billion 7+10 yr contract, world oil price drop, THHEAVY price can drop to lowest around 0.19-0.20 before next round of RI for ICPS.

Business revenue increase by abt 5X but RI price only at RM0.25 with 16:15. They will get more ICPS instead as TH already confirm can buy all the unsubscribe RI .. price should be more stable after RI unless TH & the big player underwriters want to lose more of their THHEAVY share market value price.

popcorn: U r welcome.

Those weak holding power players already sold much earlier.. vol for past 1 month quite low.
The big players that accumulated back shares at lower price earlier should be able to push up price fast unless they also want to distribute back the shares slowly but from recent trading, theres not much buyer willing to buy THHEAVY shares at higher queue price..so to attract more buyers, they have to increase the transaction vol and push up the price up faster so can be seen in top active counters.

Let see next week and towards RI ex-date hows the response.

The right issue offer price 0.25 is suppose to be the diluted price after ex-ri.

Renounceable rights issue of up to 1,195,815,669 new Islamic irredeemable convertible preference shares of RM0.25 each in TH Heavy Engineering Berhad ("THHE") ("ICPS-i") at an issue price of RM0.25 for each ICPS-i on the basis of 16 ICPS-i for every 15 existing ordinary shares of RM0.25 each held in THHE as at 5.00p.m. on 14 August 2015 ("Entitlement Date")

Ratio 16:15

THHEAVY share price should move close to RI price or up higher before adjusted to the right issue price later on.

After ex both RI and OR.

EX Rights : 12 Aug 2015
Listing Date of the Rights Securities : 14 Sep 2015

Price should be more stable coz those who subscribe the RI and bought the OR
usually more for higher price growth only sell. Those weak holding power/contra usually will exit earlier before the ex-RI.

Oil market price quite weak and when thheavy around 0.23, theres even some guy here say goin pn17 etcs... making price drop till 0.19-0.20. It seems theres some players want to drive thheavy share price low for their own accumulation. The operator not supporting price above 0.25.

Only last week bfr raya theres sign of buying support up till 0.255 before political issue wsj 1mdb scandal n klci drop drive price down to 0.225.


As usual.. pls decide ownself if interested in thheavy stocks or its ri.

Vintek: if do noting, the no. Of shares in you acct still maintain same but total thheavy shares in market will increase and adjusted as per right issue price 0.25 during ex day unless theres seller selling down. Theres OR trading from 17-24 aug, if thheavy price below 0.25, the OR have no money value for trading thus have to be absorb by TH n underwriter.

Ri issue suppose to raise fund by selling the new shares and also the or. If existing or new buyer dont want to subscribe because ri price higher than main shares, how Thheavy goin 2 get money?
16:15

Thheavy cancel off last yr Oct ri proposal coz price drop 2much lower than the ri offer price.
If this round , price still low even after approved n confirm ri n or trading dates, the money raise only will comes via TH & underwriters to subscribe all at 0.25.

If TH n underwriter buy all the ri n or at 0.25, they have to sell higher to get profit thus thheavy share price have to move higher later on.

Recent completed RI n OR like Yongtai, bintai, awc, wct all moving up from their ri offer price ex after ri completed. Some shoot up because alot buyers enter maximum....like yongtai..

Whether the price will go up or not still depend on the market retailers & big players response.
Selling pressure & vol already low and theres good chances for the price to move up since the
exact date for the RI & OR now already confirm.

Now still have time bfr ex-date for the Right Issue and also Ex-OR.
That's why can see past 2 mths theres some buying below 0.25 all the way till 0.19.
Those that bought mostly for the RI and OR play.

Based on other recent share which have RI & OR, their price also drop towards the RI offer price and after ex, price move up higher because the company already have secure good fund for the business operations. Those share price that move higher earlier, when ex also adjusted back to the RI offer price before resume moving.

THHEAVY latest NTA around 0.33.
Recent private share placement in April also at 0.33.

Those who want subscribe for the IICPS .. need to have THHEAVY shares and top up 0.25.

Ratio 16 : 15
Rights Issue/Offer Price Malaysian Ringgit (MYR) 0.250
Par Value Malaysian Ringgit (MYR) 0.250

Based on the RI info... the offer RI price will be 0.25, par value THHEAVY is 0.25.

Meaning the THHEAVY shares should be 0.25 or higher in order to to have value for the RI,
and those who don't subscribe can either sell off their OR if THHEAVY share price is >0.25 or just do nothing let the OR lapse where other main shareholder/underwriters will absorb buy it based on the RI value as per the agreement in the RI.

OR & RI announcement date out.
Next week onwards maybe can see some movement.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4817141

Date for commencement of trading of rights 17 Aug 2015
Date for cessation of trading of rights 24 Aug 2015
Listing Date of the Rights Securities 14 Sep 2015


http://www.bursamalaysia.com/market/listed-companies/company-announcements/4817097

EX-date 12 Aug 2015

Number of new shares/securities issued (units) (If applicable)
Entitlement indicator Ratio
Ratio 16 : 15
Rights Issue/Offer Price Malaysian Ringgit (MYR) 0.250
Par Value Malaysian Ringgit (MYR) 0.250

Ya...buyer queue just collecting at 0.20 so far. Been very stagnant.

rishi: Yes, OR & RI approved on 28/5/15. Can find the announcement in bursa Malaysia websites, and also online news.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4754985

On behalf of the Board of Directors of TH Heavy Engineering Berhad ("THHE"), Hong Leong Investment Bank Berhad is pleased to announce that the shareholders of THHE have approved all the resolutions as set out in the Notice of Extraordinary General Meeting ("EGM") dated 6 May 2015 at the EGM today.

This announcement is dated 28 May 2015.

http://www.msn.com/en-sg/money/other/th-heavy-eyes-more-heera-jobs-in-india-also-myanmar/ar-BBkn0ux

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

Today already 2 mths since approval, still not yet release the exact date for OR & RI.
THHEAVY price currently below RI by abt 25% and thus making its unfavourable for RI... should cancel it like previous last year Oct proposal but since its approved... they have to proceed... either the underwriters have to absorb the OR & RI at the price stated or keep delay till share price gets better.

Price been low since 7 July till now... about 1 month time supporting/accumulating around 0.20/0.205 price range. Last week of the month...really testing those minorities shareholders patience waiting for the OR & RI announcement trading dates.

The operator/big players only support at 0.20/0.205 collecting shares back from sellers..and not pushing up price higher than 0.25 yet. They have been holding the OR & RI trading date for almost 2mths long after RI approval. Market demand also not +ve to buy even when price is cheaper than RI offer price. Seems like only big players want back more shares at cheap price for themselves before proceed with the OR and RI later on.

Recent stock that completed RI went up very strong uptrend like Bintai, Yongtai, WCT.. etcs..
Before RI, those stocks also took heavy plunged close to RI offer price.

Tabung haji about 30% shareholdings with other institutional and private investor/share placement make the total >50%+ shareholdings. Public /retail investors about 40%+.

Current heavily sell down mostly from public/retail investors ...
Recent small rebound 0.25 unable to sustain and goes lower below 0.20.

Past few days.. other penny stocks quite active with big rebound but THHEAVY only back >0.20 sending small signal with some buying 100unit at 0.21 several times but with transaction mostly 0.205 AVG ... not awaken yet from its price weakness... more like still accumulate low price seller.

The big shareholder/players still not put much interest in THHEAVY yet.
They will be also affected if share price maintain low...
Just don't know how long they will drag the OR & Right issue announcement date and
make THHEAVY price higher back.

Some buying/accumulation around 0.205 today but still below Right issue offer price and no date for OR trading and ex-RI yet.

Other stocks like WCT & Yong Tai recent RI stage exciting uptrend.

Big player game...only big players knows the direction of the stock since they hold and ctrl the price.

If lack of subscribers for the RI, the underwriters have to buy all the OR and RI.
With Raya holiday next week, no annoucement news yet for OR trading and RI ex... seems will be delayed due to weak market share price and coming holiday.

Klse drop again, a lot panic sell and exit.
THHEAVY have right issues below offer price also unable to attract much buyers.
A lot counters on sale today...

Still luring buyer/seller mode.
Buying up and selling down but closing back to same price.

Last year also have some bad rumours when near warrant expiry in Dec.. eg.
company goin be delisted, some financial fraud, management problem, etc but not all are true.

Later when price drop later.. cancel RI, price rebound back high 0.455 with new RI proposal..

Now with new RI approved price going down again...

seems like big players not urgent want to support and push the price for RI...


THHEAVY have secured 1 major FPSO project worth about RM2.7 billion last year May,
http://www.thestar.com.my/Business/Business-News/2015/05/28/TH-Heavy-bids-for-RAPID-project-in-Pengerang/?style=biz

http://www.cnss.com.cn/html/2015/updates_0507/175697.html