Posted by viper88 > 2015-02-13 22:31 | Report Abuse

Current stage still proposal but has not decided on the entitlement basis for the IICPS issue.

If 1:1 right issue at 25 sen, mother shares should move furher to 0.50+ to make it more attractive.
Exercise expected complete in 2nd qtr 2015 by June 2015.

Posted by optimusprime > 2015-02-13 22:35 | Report Abuse

faint....*(&%%^&

Posted by viper88 > 2015-02-13 22:52 | Report Abuse

Why faint ler? u bought at 80-90 sen?

Posted by Food4Thought > 2015-02-13 23:25 | Report Abuse

Pls read the announcement carefully. Despite the low indicated dividend, there is no assurance that the company will pay the indicated dividend if there is insufficient allocation from the profit. Nevertheless, I believe they will support the price until the issuance of the renounceable right issues of the ICPS. Otherwise, it will not be attractive for the shareholders to subscribe. However, upside is limited. Pls trade cautiously.

Posted by optimusprime > 2015-02-13 23:29 | Report Abuse

yes there is always risk they can default on payment for the 3%-5% div.

so. bank is offering 4%. rock solid. and redeem anytime.

who would subscribe?

Posted by Food4Thought > 2015-02-13 23:52 | Report Abuse

They have the right not to pay any dividend to ICPS holders. This is qualified in the announcement of the proposal.

Posted by optimusprime > 2015-02-13 23:54 | Report Abuse

in that case they are just looking for waterfish investors? there still think there r such a waterfish exist?

Posted by viper88 > 2015-02-14 00:21 | Report Abuse

The big players are the one who push/bought big vol in recent rally.
From 0.35 onwards their movement is quite obvious and the strength pickup during the uprise all the way till 0.425 before slowing down to 0.395 and continue to rise stronger today till 0.445 and closing higher high 0.435.

The previous appearance of big players was on Oct last year where they support the price rebound from 0.52 rally till 0.645 close at 0.62 before disappearing into heavy selling pressure/distribution.

If match back their previous entry and current movement its towards 0.52 - 0.62 range.

Posted by surewinz > 2015-02-14 00:28 | Report Abuse

will it continues its uptrend?i'm newbie here,need an advice.

Posted by viper88 > 2015-02-14 03:27 | Report Abuse

From the chart, increase of vol, buying strength, its still on uptrend track IMHO. Today closing transaction AVG at 0.433, 59% buy, total transaction at RM 17million

The big players are supporting and at the same time pushing price up slow and steady.
Today announcement is just an early proposal without detail information yet, need to see next week trading support since its CNY holiday soon. Next week also T+4 for those players that enter on 10/2/15 with highest vol transaction. Some profit taking expected from small players.

Basically I feel with the coming CNY holiday next week, less small players will be buying/selling, lesser tradings n this will be good opportunity for the big players to push up the price further without much seller resistance.

If price support and push by the big player still strong and able to maintain current price lvl 0.42-0.435, it will be +ve and heading towards 0.45 - 0.47 - 0.50+ dpding on the big player buying strength and target price.

Support lvl at 0.40.

Oil price going up higher.. 2nite Crude Oil (Brent) already broke USD/bbl 61.07 another increase of 3.02% Seems more +ve momentum for Oil stocks.

Trade with own plan. Happy Valentines day.

Posted by Food4Thought > 2015-02-14 08:23 | Report Abuse

The details of its proposed renounceable right ICPS is already out on Bursa website with scenarios. All of you should read and analyse what is ahead. Do not just invest blindly. Even though you have invested, you must know when to exit.

Posted by surewinz > 2015-02-14 10:13 | Report Abuse

Thanks Viper88.When they will start to practise right issue?Is it confirm?

Posted by viper88 > 2015-02-14 11:10 | Report Abuse

Previous rights & bonus proposal was last year Oct, price drop from 0.825 till 0.53 and drop more to 0.47 also due to world Oil price big drop & a lot bad newsplays. The share price drop too low till the earlier proposal becomes unattractive and hard to proceed thus been cancelled off.

Current situation is opposite where the big players are pushing hard the price up, if history repeats.. their money will go wasted unless they prefer rollover longer pump & dump strategy but with 2mths to get approval.. its critical for them to make sure the share price stay attractive for Right Issues to proceed smoothly... cant failed again like last year proposal.

Current annoucement is still early stage not final yet. Proposal only still need to get approval within 2 mths period and once approve expected to complete by 2nd qtr 2015.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1877693

APPROVALS REQUIRED
The Proposals are conditional upon approvals being obtained from the following:
(i) Bursa Securities for the admission of the ICPS-i to the Official List of Bursa Securities, the listing of and quotation for the ICPS-i to be issued pursuant to the Proposed Rights Issue of ICPS-i as well as the listing of and quotation for the new THHE Shares to be issued pursuant to the conversion of the ICPS-i on the Main Market of Bursa Securities;
(ii) the shareholders of THHE at an extraordinary general meeting to be convened; and
(iii) other relevant authorities/parties, if required.
The Proposed Rights Issue of ICPS-i is conditional upon the Proposed Increase in Authorised Share Capital and Proposed Amendments. The Proposed Increase in Authorised Share Capital and the Proposed Amendments are inter-conditional upon each other. Save as disclosed above, the Proposals are not conditional upon any other corporate exercise undertaken or to be undertaken by the Company

APPLICATION TO THE RELEVANT AUTHORITIES AND EXPECTED TIME FRAME FOR COMPLETION
Barring any unforeseen circumstances, all the relevant applications to the authorities in relation to the Proposals will be made within 2 months from the date of this announcement.
Subject to the relevant approvals being obtained, the Proposals are expected to be completed in the second quarter of 2015.

===============================================================
Those big shareholders who bought at higher price earlier 0.90 - 0.80., already accumulate more shares during the bottom and now pushing up back to AVG down their earlier price. My own estimation, their AVG price should be ranging around 0.50 - 0.56+/- or maybe even at much lower price than 0.50. So far no big shareholders made announcement of buy back THHEAVY shares yet.. usually buy via proxies acct.
Only Tabung Haji add more shares in Sept last year and Jan 2015.

http://klse.i3investor.com/blogs/MplusOnline/70498.jsp

THHEAVY rebounded off the EMA9 level with improved volumes after a pullback on Wednesday. The MACD Histogram has turned green, while the RSI is hovering above 50. Monitor for a breakout above RM0.425, targeting the RM0.50 level. Support will be located around the RM0.38 level.

Posted by afiqbull91 > 2015-02-14 22:15 | Report Abuse

idk you sir viper88. but kudos for the great comments. You sure did a good research on it. (Y)

Posted by kk123 > 2015-02-15 09:11 | Report Abuse

Now rebounding as oil rebounds. U recall Quek entry price is 0.45sen 2 yrs back and the other big player PNB bought at 80 sen..
So I don't think they will sell now , and likely they will push up a bit ..

Posted by stonenut > 2015-02-15 09:24 | Report Abuse

Sure will up as crude oil futures rise...

crude oil seems heading usd70 per barrel...

those holding oil and gas counters would see 100%
Profit in their portfolio

Posted by orlandooil > 2015-02-15 10:06 | Report Abuse

Ok they are trying to save the FPSO

Nevertheless, there is still serious problem with yard use as the CEO noted:

In an earlier interview with the Edge weekly, TH Heavy CEO Nor Badli Munawir had admitted that if the company did not bag a reasonably large fabrication job by 1Q15, it could be in "serious trouble".

The amount to be raised in the new RI is only 300 millions that is 150 millions lower than the RI cancelled.

There is no bonus issue to sweeten the deal for you this time and the profit is only at around 1% in the 1st year.

So, given the "serious trouble" and low interest rate is this a good enough deal for you to chip in your money to save TH Heavy ???

Remember, the 2nd trance of the private placement upto now nobody wants to take up....

Posted by stonenut > 2015-02-15 10:20 | Report Abuse

Orlando oil,

now almost all oil and gas comp..not making profit..due to low crude oil price last year..

this year things seems to be different. Crude oil rising due to US oil rigs keep on shutting down one by one.... low shale oil out put in near future.

plus now russia cease fire with Ukraine making world economy ease abit..

Thheavy I believe not making money but with crude oil ptice getting higher
at the end of the day things will change.

Posted by orlandooil > 2015-02-15 12:07 | Report Abuse

stonenut THHeavy problem is that its project order book is getting very low yet it cannot win new projects... so its yard is under utilised and it has to retrench workers

No projects so no sales and no cashflow.... not just profitability so simple


Value Investor Research on KLSE Market
Author: value_investor | Latest post: Fri, 13 Feb 2015, 10:43 AM

Blog Headlines (by Date) Blog Index
TH Heavy Engineering is laying off staff to withstand the headwinds
Author: value_investor | Publish date: Wed, 3 Dec 2014, 10:16 AM | >> Read article in Blog website

TH Heavy Engineering is laying off staff in order to withstand the current strong headwinds in the oil and gas industry. In a memo sighted by the Edge Financial Daily, the fabrication company informed selected employees that "due to the current financial situation the management has no alternative but to implement the retrenchment of redundant staff effective 1 Dec". In an earlier interview with the Edge weekly, TH Heavy CEO Nor Badli Munawir had admitted that if the company did not bag a reasonably large fabrication job by 1Q15, it could be in "serious trouble".
As the Bergading project in the North Malay basin was awarded to Hyundai Heavy Industries (HHI) in May, TH Heavy's fortunes hinges on the possible US$1bn award of the CPP project for the Baronia oil field off Sarawak. However, reports from international O&G publications indicated that HHI is likely to be the front runner for the project, which will edge out TH Heavy and its partner, McDermott International Inc. (Financial Daily)

TH Heavy is the second fabricator we know that has downsized its workforce after MMHE. This is due to the awards of large fabrication contracts, included those for Bergading and Baronia, to foreign companies, leaving yard utilisation low.

Posted by orlandooil > 2015-02-15 12:10 | Report Abuse

Stonenut what is your thought on this...... So, given the "serious trouble" and low interest rate is this a good enough deal for you to chip in your money to save TH Heavy ??? Are you going to take up the RI?

Posted by kk123 > 2015-02-15 13:52 | Report Abuse

PMB is THHE's third largest shareholder, after Lembaga Tabung Haji (LTH) (31.6%) and Tan Sri Quek (9.1%)," - CIMB

Posted by orlandooil > 2015-02-15 14:41 | Report Abuse

MMHE is an indirect unit of Petronas itself... also cannot get projects

Posted by viper88 > 2015-02-15 15:13 | Report Abuse

Last year from Oct till Dec especially a lot bad news/rumours on THHEAVY.. was more likely to fend off warrants player due to its expiry date to avoid convertion to mother share and avoid share dilution.

That's why a lot heavy handed trades both on mother shares. Those who bought warrants at "low" price got stuck and expires with big losses. Now no more warrants only mother share and big players are going in strong towards main shares only.

Posted by orlandooil > 2015-02-15 15:44 | Report Abuse

Viper88

Emmmm.....I am new here... THHeavy needed every cent it can get why, did it refused to let people convert the warrant ???


Anyway, your thought on this...... So, given the "serious trouble" and low interest rate is this a good enough deal for you to chip in your money to save TH Heavy ??? Are you going to take up the RI?

Posted by rajasaham > 2015-02-15 20:47 | Report Abuse

Please jangan gaduh torro..up or down??? Who can tell the answer?? U are winner..

Posted by kuttyravi > 2015-02-15 22:19 | Report Abuse

rajasaham , UP !!!!

Posted by viper88 > 2015-02-16 00:48 | Report Abuse

I'm just a small players.. only the big players able 2 control the price movement.
2 mths quite short period but can be long also dpds on players holding power and big players plan.

If u see /read the announcement for warrants:

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1793617

Mode of Satisfaction of Exercise/Conversion Price: Cash
Exercise/Strike/Conversion Price: MYR 0.5100
Exercise/ Conversion Ratio: 1:1
Last Date & Time for Trading: 04/12/2014 05:00 PM

Highest VOL transaction was on 19/11/14: lowest at 0.01

Last trading price was at 0.005 on 28/11/14 and no more transaction till expiry.

Those who wish to convert warrant to mother share have to pay 0.51 + their entry warrant price.
Eg...
0.51 + 0.01 = 0.52
0.51 + 0.005 = 0.515.

Whats the mother share that time last trades and expiry trades?
19/11/14: lowest 0.485
28/11/14 : lowest 0.44
4/12/14: lowest 0.35

Those who wants to pick up warrant better buy mother share instead coz its cheaper than paying
premium extra + 0.51 for convertion unless they have holding power for future mother price > 0.51 or 0.52++ to see profits. And with proposal announcement right issue 1:1 at 0.25.. the big players have to support the price high to make the right issue attractive for subscribing.. if too low price... eg.. back to 0.30... then it'll be cancel again.,, that's why a lot warrant weak players don't convert only "some" that pick up bottom price and have big money + strong holding power players convert.
Yes.. theres some big players wallap at 0.01 and 0.005...

Now its opposite.. coz mother share turn to perform.. if not, those big players will be "stuck" or get less profit coz they have pump in a lot money aborbing some warrants for convertion and also push Mother share since 19/1/15 from 0.30 onwards till 0.37 - 0.425 - 0.435...
Now with proposal Right issues announcement.. ?

So do u get the pictures and answers of the mother share price movement heading to?
Price volatile coz there are some big players

Above is just my own personal view...
As usual set ur own trading plans and good luck.

Posted by viper88 > 2015-02-16 09:51 | Report Abuse

Looking good this morning.

Posted by VeryPoison > 2015-02-16 10:36 | Report Abuse

right issue of IICPS itu apa?....

Posted by viper88 > 2015-02-16 10:44 | Report Abuse

Islamic irredeemable convertible preference shares. - I-ICPS

Posted by annmix > 2015-02-16 10:55 | Report Abuse

No power

Posted by Raymond Wong > 2015-02-16 11:01 | Report Abuse

TP?

Posted by viper88 > 2015-02-16 11:04 | Report Abuse

Maybe Tabung Haji will buy more ... n take up right issues coz Islamic icps.
Still early.. big players holding /support price quite well.
Once they get the approval, price will likely moving towards 0.50+ or 0.51-0.52++.

Posted by Raymond Wong > 2015-02-16 15:11 | Report Abuse

Viper 88: May I know roughly when the approval would be granted?

Posted by viper88 > 2015-02-16 15:39 | Report Abuse

Within 2 mths to get all approvals from announcement date 13/2/15 till 12/4/15 expires,
Right issues exercise expected to complete by 2nd qtr 2015 ( by June 2015) if approved.

Posted by maya1301 > 2015-02-16 16:39 | Report Abuse

SELL!!
RUN!!

Posted by viper88 > 2015-02-16 16:43 | Report Abuse

T+4 today from last week high vol entry. Some selling pressures during 2nd half but still well absorbed, AVG transaction currently at 0.44 with RM15million+. Big players are supporting this stock quite well and absorbing the sellers.

Posted by dragonfruits > 2015-02-16 17:54 | Report Abuse

Viper88, what is tp for this counter?

Posted by viper88 > 2015-02-16 19:00 | Report Abuse

Dragonfruits: U mean my own TP? From the strong accumulation, support and buying/push support from the big players since past 2 weeks till today even when CNY holiday is around the corner, it shows the big players are serious 2 game on 4 uptrend direction. + Right Issues proposal at 0.25, personally I feel THHEAVY can reach/break 0.50+ in short term period unless theres changes to the Right issues proposal / unforeseen market storm.

Price might even break > 0.51 - 0.52++ if the big players really want to make sure the Right issues goes smoothly and give confidence for ppl to subscribe for it.

As usual, trade wisely and follow own investment plan.

Posted by viper88 > 2015-02-16 19:14 | Report Abuse

This morning the big players push strongly till 0.455. Highest vol transaction range today was in 0.44, 0.445 and 0.45 with highest vol supported/transacted at 0.44 which is 2x of the other 2 price transaction vol.

It was only during the 2nd half of trading selling pressures kicks in expected since today is the last day for those T+4 players to exit but price was well supported at 0.430, 0.425 and 0.42. Can see the strong support buy queues especially at 0.425 with biggest vol transacted among these 3 price lvl.

Posted by maya1301 > 2015-02-16 21:08 | Report Abuse

Dont be surprise if the price DROP below 0.40 before CNY

Posted by Raymond Wong > 2015-02-16 22:34 | Report Abuse

Should sell now?

Posted by kk123 > 2015-02-16 22:50 | Report Abuse

I have Sold. Make some $$ .. As it move up a lot
Good luck to those still in..

Posted by viper88 > 2015-02-17 00:16 | Report Abuse

Sell is own personal decision and based on ur investment profit taking plan.

If already reach ur target and happy den sell.. if feel still can go up further, have holding power and confident price will move up more.. den must be patient to wait.

Posted by kk123 > 2015-02-17 08:28 | Report Abuse

Took profit since went up
Now move to laggard & cheap : oil and gas support stocks : TAS

Posted by orlandooil > 2015-02-17 11:16 | Report Abuse

The i-ICPS may temporarily relieve THHeavy problem by funding the FPSO but will cause a massive dilution of an expected already very low EPS in the near future

Posted by annmix > 2015-02-17 12:02 | Report Abuse

Hey maya.. why u no more appear in Krono forum? Now u buying thheavy ah?

Posted by viper88 > 2015-02-17 13:17 | Report Abuse

orlandooil: That is after 2nd qtr July story/game play. Why u think 2 far? U plan 2 subscribe?

Those who want to subscribe for Rights Issue need to prepare $$$ to pay for the subscription. Usually those with low entry price maybe will go 4 it especially those big players n long term investors. Tabung Haji owns abt 30% of THHEAVY shares so will likely go 4 it...

Now is just proposal stage pending approvals.. have 2 mths to complete and those big players have 2 manage current price to make it attractive for the Right Issues by 12/4/15 and till completion of the exercise also.

Traders, investors all gear up for current play especially the big players/shareholders need to push up share price to maintain/above good price before Right Issue exercise complete end of June if approval granted.

CNY holiday soon... some ady take some profit/exit.... some still stay or will come back again next week after market reopen.

Posted by annmix > 2015-02-17 13:26 | Report Abuse

Very good analys viper88.. thanks

Posted by Raymond Wong > 2015-02-17 16:28 | Report Abuse

forsee an uptrend next week!