Posted by profithunter > 2014-09-30 23:49 | Report Abuse

holding for long...hope will move

Posted by kuttyravi > 2014-10-01 01:42 | Report Abuse

maggiel cannot wait Q4 ?? , Dylan1027 jz boring and hopeless and cant wait anymore ??? , profithunter holding for long....hope will move and finally cant wait anymore....if you guys answer negative ...please sell to me fast , I want to collect somemore at current price.....

Posted by kuttyravi > 2014-10-01 01:52 | Report Abuse

TH Heavy Engineering - Enter another heavyweight investor

Author: value_investor | Publish date: Thu, 25 Sep 10:48 | >> Read article in Blog website

Target RM1.23 (Stock Rating: ADD)

THHE has proposed a placement of up to 10% with the first tranche of 5% to be placed to Pelaburan Mara Berhad (PMB) at 80 sen/share. THHE, which already counts LTH and Tan Sri Quek Leng Chan as its major shareholders, has earmarked the RM42m gross proceeds from the 5% placement for its yard expansion and FPSO venture. We maintain our forecasts for now but flag that we would cut our FY14-16 EPS by 1-4% for a bigger share base following the completion of the 5% placement. We continue to value the stock at a CY15 P/E of 16.4x, a 30% discount to the average P/E of the O&G big caps. A growing order book and a successful FPSO venture are the potential re-rating catalysts. THHE remains an Add and our top pick among the O&G small caps.





What Happened


THHE has proposed a placement of new shares of up to 10%, of which the first tranche of 5% or 52.796m shares will be placed to PMB at 80 sen/share. The gross proceeds of RM42m from the 5% placement will be used to facilitate THHE's yard expansion and floating production, storage and offloading (FPSO) venture. The 5% placement is slated for completion by mid-Oct.



What We Think

Established in 1967, PMB is an investment and asset management company wholly-owned by Majlis Amanah Rakyat (MARA), a government agency. PMB is making an entrance into THHE amidst the latter's operational improvement. To recap, THHE went through a rough patch in 2Q, prompting it to make RM9m provisions for the fabrication and transport & installation businesses. However, we understand that the company has returned to the black in 3Q and aims to secure a sizeable fabrication contract by year-end to expand its order book of RM1.5bn at end-Aug (Figure 1). PMB will be THHE's third largest shareholder, after Lembaga Tabung Haji (LTH) (31.6%) and Tan Sri Quek (9.1%). Imputing the new shares from the 5% placement, we expect to lower our fully-diluted EPS by 1% for FY14, 4% for FY15 and 4% for FY16.



What You Should Do

Accumulate the stock following the recent share price fall brought about by the soft 2Q. The fabrication business is lumpy but we take comfort in the long-term nature of the FPSO business, which landed an 8+10 US$372m contract in May. Furthermore, the stock's valuations are undemanding at 9-13x FY15-16 earnings, lower than the sector average of 14-16x

Posted by bowman > 2014-10-01 07:57 | Report Abuse

With LTH behind you, you cant go wrong - divine help is just around the corner

Posted by maggiel > 2014-10-01 09:53 | Report Abuse

i did not mention that i cannot wait for Q4, did i?

Posted by kuttyravi > 2014-10-01 13:20 | Report Abuse

maggiel , I did not mention that u cannot wait Q4 , did I ??? ( read carefully ...)

Posted by maggiel > 2014-10-01 17:43 | Report Abuse

u did not explicitly mention.... u implied..... :)

Posted by dragonfruits > 2014-10-01 23:21 | Report Abuse

Kuttyravi, when will go to rm1.20..

Posted by maggiel > 2014-10-01 23:31 | Report Abuse

if Q4 results good and with new project granted, should be higher than 1.20

Posted by bowman > 2014-10-02 09:20 | Report Abuse

the one thing noticeable here is the unimaginable amount of hope against despair.

Posted by alvinkc > 2014-10-03 13:24 | Report Abuse

if mother share is 0.81, the son value is 0.30 ?

Posted by maggiel > 2014-10-03 16:36 | Report Abuse

warrant exercise = 0.51; take note maturity @ 20-Dec-2014
current mother share = 0.805; while warrant = 0.285
so, warrant currently trading at a discount of 0.01

Posted by maggiel > 2014-10-03 18:25 | Report Abuse

THHEAVY proposes rights and bonus issue to raise RM450mil

Posted by Surelaughdie > 2014-10-03 18:26 | Report Abuse

oh oh oh. it came. wakakaka. the big boat to HL is here.

Posted by maggiel > 2014-10-03 19:03 | Report Abuse

do you think the rights and bonus issue is a good thing? for long term investors, it would..... for short term players, they might dispose their holdings now as it would require additional funds......

Posted by maggiel > 2014-10-03 19:04 | Report Abuse

all will depend on the confidence of investors that funds to be raised will be value-adding to the company, what will the funds be used for.......

Posted by Surelaughdie > 2014-10-03 19:12 | Report Abuse

maggie.

the right call is it good or bad. look at the stock chart it already told u. in this case, negative.

insider knew the right is good for nothing. dont forget they mismanage the cash. they spend hundreds of million buying a 25yr old junk ship and rot in sea waiting for order fpso .
the rest of the industry player would only buy a fpso when they received confirmed order.

from the way how they utilised their cash. u know this right is also as good as dumping money into sea.

Posted by Surelaughdie > 2014-10-03 19:13 | Report Abuse

i have given up on this counter, its in my blacklisted book.

Posted by maggiel > 2014-10-03 21:04 | Report Abuse

too early to define the direction of this counter with the rights issue announcement.... ex-date yet to set, so Q3 positive results might boost investor confidence..... if still negative like in Q2, then dun-know-what-to-say already...... their most recent contract will only impact their books in Q4.....

wait and see loh...... :)

Posted by Surelaughdie > 2014-10-03 21:05 | Report Abuse

maggie, yes, u r right, for a fundamentalist.

but we r fortune tellers, we read tea leaf.

Posted by wakakaka > 2014-10-03 21:07 | Report Abuse

Wakakakaka...Friday nite is bashing nite for kapcaifortune teller...sure laugh die...wakakaka

Posted by TomJerry > 2014-10-03 22:04 | Report Abuse

Right Issue 2 option : 3 Right for 4 Existing shares with 1 bonus or 3 Right for 5 existing shares with 1 bonus .

Posted by VeryPoison > 2014-10-03 22:57 | Report Abuse

hmm... It is a gambling game now.... god bless

Posted by VeryPoison > 2014-10-03 23:12 | Report Abuse

Max scenario more favourable.....

Posted by maggiel > 2014-10-04 12:19 | Report Abuse

dun think i will further add for now.....

Posted by Abudance > 2014-10-05 16:41 | Report Abuse

Diluted shares...?

Posted by maggiel > 2014-10-06 23:01 | Report Abuse

censof me no like......

Posted by Joel > 2014-10-07 09:57 | Report Abuse

http://www.thestar.com.my/Business/Investing/2014/10/07/TH-Heavy-top-pick-among-small-caps-for-CIMB-Research/

Posted by maggiel > 2014-10-07 10:19 | Report Abuse

top pick but dropping like a stone..... any reasons?

Posted by maggiel > 2014-10-07 10:19 | Report Abuse

looks like investors dun like the idea of pumping more cash into this company......

Posted by maggiel > 2014-10-07 10:31 | Report Abuse

hmm..... touch 0.75 me buy...... kekekke...... :)

Posted by zeolit > 2014-10-07 11:19 | Report Abuse

o2 patutla propose r.i....most contra dont like this....only investor play for long term...

Posted by maggiel > 2014-10-07 11:28 | Report Abuse

not many contra players in THH.....

Posted by live > 2014-10-07 11:59 | Report Abuse

buy geshen TP 1.00 UP UP UP

Posted by mchess77 > 2014-10-07 12:55 | Report Abuse

Yeah not many contra players as it has been bashed down for the past few weeks / months...

In any event, the proposed rights issue should be positive for the company in the long run...

Posted by craptree > 2014-10-07 13:37 | Report Abuse

uh... uh.... 75c coming.... come to papa

Posted by Ameera > 2014-10-07 14:01 | Report Abuse

Aiyoh.... Hold then... Hemm...

Posted by maggiel > 2014-10-07 14:36 | Report Abuse

rights issue for companies which have a good track record, it would fare well with investors....
as for companies without a good track record, investors generally would stay clear.....

Posted by maggiel > 2014-10-07 15:00 | Report Abuse

freefall......

Posted by sheep > 2014-10-07 15:08 | Report Abuse

how much do you the rights share will be? why the sell down?

Posted by sheep > 2014-10-07 15:18 | Report Abuse

TH Heavy has proposed a placement of new shares of up to 10%, of which the first tranche of 5% or 52.796m shares will be placed to Pelaburan Mara Berhad at 80 sen/share. (BMSB)
Mara already losing investment?

Posted by sheep > 2014-10-07 15:19 | Report Abuse

those reading the star news this morning and jumped in die-lah.

Posted by tekken > 2014-10-07 15:30 | Report Abuse

sell,65 c

Posted by Noraini Ismail > 2014-10-07 15:44 | Report Abuse

Any company proposing right issues (RI) or private placement .....sure the price will skydiving ....no eyes to see........luckily hold very small 10 lots @ 0.805 ........will add more once price stable or better wait till announcement of RI date....

Posted by maggiel > 2014-10-07 16:17 | Report Abuse

selling pressure continues......

Posted by maggiel > 2014-10-07 16:34 | Report Abuse

shit...... seems bottomless......

Posted by aibo > 2014-10-07 16:50 | Report Abuse

longgggg black candle...emmmmm

Posted by maggiel > 2014-10-07 17:01 | Report Abuse

would be lucky if this week can still maintain above 0.70

Posted by kuttyravi > 2014-10-07 17:06 | Report Abuse

maggiel.....don't worry too much....this is just a blip....lets wish all of us luck in the days ahead..!!! it will reach bottom before it goes up again !!!....fingers cross...

Posted by AhMoi > 2014-10-07 17:30 | Report Abuse

tan teng boo says companies which have not seen a FPSO their whole life...... then suddenly just went and bought an old junk.. then only look for a contract.. then ask for huge amount of money to try to convert it to FPSO... just ain't gonna cut it.... or something like that la


the ask for huge amount of money to try to convert the old junk to FPSO.... this part involve you la