Posted by derrtan > 2015-05-21 12:21 | Report Abuse

Avoid this counter.they have financial issue

Posted by maya1301 > 2015-05-21 17:05 | Report Abuse

anmix still eating own shyt quietly..
SELL more!!!

Posted by annmix > 2015-05-21 23:30 | Report Abuse

Sorry maya.. i already made profit n not play this counter when it was at 33-34, i feel sorry for this counter too, anyway i hv perisai n alam n they are in red now, if u too free u can go and troll there also.. i still not respect u here coz plain shouting with no facts, i wonder if u really trade ! All oil n gas counter are bad now, now only particular thheavy

Posted by flyup888 > 2015-05-21 23:53 | Report Abuse

oil up ~~ @@

Posted by KedahMalay > 2015-05-22 08:59 | Report Abuse

holding pawer

Posted by viper88 > 2015-05-22 13:00 | Report Abuse

Price drop back to last year Dec low. RI proposal doesn't seems attractive base on recent sell down price. EGM next week, not yet finalize/approve on the renounceable shares RI info.

Posted by supernova > 2015-05-22 15:36 | Report Abuse

very HEAVY counter, suffering 9% loss, cut now or hold

Posted by viper88 > 2015-05-22 20:31 | Report Abuse

Yeah.. Heavy handed play. Company need money but based on the current traded price and sell down, its seems not many are interested/ wanted to pick/subscribe the RI. Those who buy and plan to trade the OR renounceable RI also difference by only 0.02 sen currently and need huge capital/ & vol buyer to absorb to get profit.

The sell down also allow big shareholders to absorb at lower price but they still need money to pick up/sell the Renouceable right. Investor might as well buy after ex-right. Price weakness alwys favours big and long term players.

Just wonder how THHEAVY goin to raise fund if no investor want to buy or subscribe for the RI unless they themselves subscribe and later sell back when price move up...

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

Recent RI completed was MAHB. It was 10% oversubscribed

http://www.malaysiaairports.com.my/?m=media_centre&c=news&id=478

http://www.4-traders.com/MALAYSIA-AIRPORTS-HOLDING-6491319/news/Malaysia-Airports-Berhad--MAHB-plans-1-for-5-rights-issue-19369846/

http://www.nst.com.my/node/78429

Posted by viper88 > 2015-05-22 22:36 | Report Abuse

Renouceable rights price info:

http://www.wisegeek.com/what-are-renounceable-rights.htm

Renounceable rights are rights to purchase a set number of shares in a company at a discounted price, offered to existing shareholders when a company wants to raise more capital. The practice of offering shares at a special price to people who hold stock in a company is known as a rights issue, and is done to provide people with an opportunity to maintain their proportional ownership in the company. In the case of renounceable rights, the rights are transferable and people can choose to sell them if they do not want to exercise them.

When a company offers renounceable rights, it evaluates the number of shares people already hold and the current price for shares on the open market. It offers a proportional amount of shares in the new issue at a lower price. Shareholders who choose to take advantage of the offer are able to buy shares to compensate for the dilution that occurs when new shares are issued. They can also opt to sell the renounceable rights if they do not want to exercise them, or choose to pass altogether, even though the value of their existing shares will be diluted because the overall number of shares in the company is going up.

There are markets for renounceable rights and people can usually find buyers. For members of the trading public, buying such rights can be advantageous as it allows them to access a new issue before other members of the public, at a lower price than the company's shares trade for on the open market. Value of such rights varies, depending on a number of factors, from the total discount offered to the company's current financial position. When purchasing the rights, people weigh the cost of the purchase of the right itself along with the stock.

Posted by viper88 > 2015-05-22 22:51 | Report Abuse

Base on THHEAVY proposal:

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. Our Board deems that the discount to the TERP, which is in line with the range of
discounts observed in precedent rights issue exercises, is reasonably attractive to encourage
shareholders’ participation in the rights issue after taking into consideration the prospects and
future growth of our Company.
====================================================================
0.3966 - high

0.3240 & 0.3209 - 22.84% and 22.10% discount from the right issue price at 0.25

Base on current closing market price at 0.27... its just doesn't have much discount or attractive to encourage shareholders to subscribe for the RI..

Posted by SAMSOON8688 > 2015-05-25 17:10 | Report Abuse

Don't worry,next month will fry.

Posted by SAMSOON8688 > 2015-05-25 17:21 | Report Abuse

http://www.theedgemarkets.com/my/article/falling-us-stocks-china-demand-and-war-iraq-could-push-crude-price-higher

Posted by rishi > 2015-05-27 20:15 | Report Abuse

Loss more than 2k here. Haizz

Posted by venomv > 2015-05-28 15:21 | Report Abuse

THHeavy drops to 24.5 sen (-2.0) !!!
Results Q1 must be BAD,,,,,

Posted by kuttyravi > 2015-05-28 15:22 | Report Abuse

viper88 , What did the EGM decided on right issue ? Pls update....

Posted by viper88 > 2015-05-28 16:07 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4754277


The Board of Directors of TH Heavy Engineering Berhad wishes to announce that all the resolutions tabled at the Eleventh Annual General Meeting of the Company held on 28 May 2015 were duly passed by the shareholders.

This announcement is dated 28 May 2015.

Posted by supernova > 2015-05-28 16:09 | Report Abuse

good news or not so good news?

this counter very "heavy"

Posted by supernova > 2015-05-28 16:11 | Report Abuse

this is the current worst hit O&G counters in my portfolio

Posted by viper88 > 2015-05-28 16:32 | Report Abuse

The proposal was approved.

ESTIMATED TIMEFRAME FOR COMPLETION
Barring any unforeseen circumstances and subject to all required approvals being obtained,
our Board expects the Proposals to be completed by the third quarter of 2015.

Key milestones Tentative timeline
==============================
EGM End May 2015

Announcement of the Entitlement Date Early June 2015

Entitlement Date and issuance of Abridged Prospectus in relation to
the Proposed Rights Issue of ICPS-I Mid June 2015

Commencement of trading of rights entitlements Mid June 2015

Closing date of acceptance of and applications for the ICPS-i End June 2015

Listing of and quotation for the ICPS-i on the Main Market of Bursa Securities Mid July 2015

Posted by supernova > 2015-05-28 16:36 | Report Abuse

oh no, RI again.

not sure good or bad

Posted by kuttyravi > 2015-05-29 02:03 | Report Abuse

viper88 ,just wanted to ask you a question ,I got a lot of TH Heavy shares , but currently do not have cash to buy the rights issue . Is it good to sell in open market or just do not offer any rights to in open market( I mean stay put ) 1)what is your recommendation 2)What will be the consequence in both scenario: scenario (A) I offer to open market : scenario (B) I do not offer any sale of my rights in open market i.e rights not taken up . Need your analysis and thinking.....thanks

Posted by viper88 > 2015-05-29 10:21 | Report Abuse

kuttyravi: Its renounceable rights meaning have option to buy up, sell or ignore the right issue offer. Renounceable rights have a value and can be traded. Stockholders that have received renounceable rights have three choices of what to do with the rights. They can act on the rights and buy more shares as per the particulars of the rights issue; they can sell them on the market; or they can pass on taking advantage of their rights.

But until the date at which the new shares can be purchased, shareholders may trade the rights on the market the same way they would trade ordinary shares. The rights issued to a shareholder have a value, thus compensating current shareholders for the future dilution of their existing shares' value.

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

2. Ignore the rights issue
You may not have the $900 to purchase the additional 300 shares at $3 each, so you can always let your rights expire. But this is not normally recommended. If you choose to do nothing, your shareholding will be diluted thanks to the extra shares issued.

3 Sell your rights to other investors
Rights that can be traded are called "renounceable rights", and after they have been traded, the rights are known as "nil-paid rights".

To determine how much you may gain by selling the rights, you need to estimate a value on the nil-paid rights ahead of time. Again, a precise number is difficult, but you can get a rough value by taking the value of ex-rights price and subtracting the rights issue price. So, at the adjusted ex-rights price of $4.92 less $3, your nil-paid rights are worth $1.92 per share. Selling these rights will create a capital gain for you.

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

Main issue here is current market price is around the ex-right issue price at 0.25 thus theres no profit margin to sell off the renounceable rights if unable to pick up.

Have to wait till announcement of the Entitlement Date Early June 2015 and Commencement of trading of rights entitlements Mid June 2015 and see if the share price move up or any announcement to fix price for the trading of rights entitlement.

Posted by viper88 > 2015-05-29 10:57 | Report Abuse

http://www.thesundaily.my/news/1434756

PETALING JAYA: Loss making TH Heavy Engineering Bhd, which currently has only one RM1.5 billion contract in hand, sees another challenging year for the company in 2015 given that its Pulau Indah yard utilisation rate has plunged to 10% as a result of the global oil price slump.

"That's very bad, imagine your factory running at 10%, you think you can make money?" its managing director and CEO Datuk Nor Badli Mohd Alias told reporters after the company's AGM here yesterday.

TH Heavy Engineering swung into the red in FY14, with a net loss of RM113.9 million against a net profit of RM1.56 million in FY13, due mainly to lower margins, provisions on disputed claims and higher operating costs to support future projects under bidding.

Nor Badli expressed concern over the cutback in capital expenditure by oil majors and is of the view that the current tough environment will continue.

"In terms of new fabrication contracts, there's very little, a lot of them have been deferred and KIV (keep in review), we foresee that things will continue, but we hope that it's not going to be KIV-ed for too long.

"We're lucky because we've one on-going project, but if there is no new fabrication contract, we've to keep our operation very low until things pick up again," he noted.

However, Nor Badli stressed that the floating production, storage and offloading (FPSO) Layang contract would provide steady income stream to the company, as the RM1.5 billion contract will keep it busy for seven years.

"In the meantime, we're trying to get more FPSO contracts," he said.

TH Heavy Engineering is bidding for contracts worth RM2.1 billion locally and abroad, in places such as Indonesia and Myanmar.

Nor Badli also pointed out that the company undertook a retrenchment exercise last December with a 30% to 40% overhead reduction, bringing down the number of staff to 350 from a peak of 600.

In a bid to create a new income stream, he added that the company is looking to expand into the non-oil and gas segment, such the construction of biofuel plants.

"It's (discussions) on-going now, the client is ready to embark on (the plant) construction," he said, but declined to disclose more details on that.

Besides that, the company is also focusing on downstream activities especially the Refinery and Petrochemicals Integrated Development project at Pengerang. It has submitted bids and participated in prequalification exercise for steel fabrication and piping works as well as onshore engineering, procurement, installation and commissioning projects.

On another note, TH Heavy Engineering received shareholders' approval for a rights issue of up to 1.2 billion new Islamic irredeemable convertible preference shares to raise up to RM300 million at its EGM yesterday.

Part of the proceeds, RM152 million, will be used to part finance the expenditure for the conversion of FPSO Layang, which was awarded by JX Nippon.

The remainder is for the upgrade of its Pulau Indah fabrication yard as well as the investment in tools and machineries, software and the purchase and manufacture of cranes for subsequent rental.

Posted by supernova > 2015-05-29 11:00 | Report Abuse

use money to finance new project for growth better than using it to cover debts like malakoff and AAX

Posted by weee > 2015-05-29 17:51 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4758613

Posted by weee > 2015-05-29 17:52 | Report Abuse

report out

Posted by viper88 > 2015-05-29 18:35 | Report Abuse

The main shares have to be pushed up higher so more shareholders have confident to take/buy up the right issues or allow other buyer to buy the renounceable rights sell by shareholders. June will know the date for entitlement and trading date.

Posted by kuttyravi > 2015-05-29 21:07 | Report Abuse

thanks viper88....good job !!!

Posted by venomv > 2015-05-30 05:29 | Report Abuse

THHeavy shares price is going into the Twilight Zone....between 20sen - 25sen !!!
You cannot BUY the rights and you cannot SELL the rights entitlement for a good price !!!
You DEFINITELY cannot sell THHeavy now without incurring a big loss.
So the million dollar question is - What do you do ??
Something to think about. Interesting !!!

Posted by Analyst8 > 2015-05-30 08:35 | Report Abuse

Once again, what I had commented proven to be correct. The majority of the shareholders approved the right issues of ICPS. I do not need to channel my energy to argue with empty vessel as they make the loudest sound, the least wit are the greatest babblers.
Pls read the Q1 result, the bleeding continue for another RM25mil. It will take sometime for the company to turnaround and the share price will be under pressure. Pls do your own homework and read the details of the ICPS, if you do not subscribe, there are parties including the main shareholders who undertake to subscribe it (pls check as I remember reading it). It is also possible that they may want to subscribe more if they make it unattractive for the minority shareholders. So, it may not be a straight forward game that the main shareholders will push up the price for the right issues of ICPS. If you are a seasoned investor, you would have come across such scenario in the past. So, invest cautiously.

Posted by viper88 > 2015-05-30 21:11 | Report Abuse

http://www.thestar.com.my/Business/Business-News/2015/05/28/TH-Heavy-bids-for-RAPID-project-in-Pengerang/?style=biz

Thursday, 28 May 2015

KUALA LUMPUR: Oil and gas services provider TH Heavy Engineering Bhd (TH Heavy) is bidding for jobs in the Refinery and Petrochemicals Integrated Development (RAPID) project in Pengerang, Johor.

It said on Thursday it had submitted bids and it had also taken part in the pre-qualification exercise mainly related to steel fabrication and piping works.

TH Heavy CEO Datuk Nor Badli Munawir said the company’d main challenge was to keep its yard in Pulau Indah running.

"The utilisation rate at our yard is about 10% curently and we are diversifying our businesses such as into onshore fabricartion projects as well into the renewable energy sector," he told reporters after the company's AGM and EGM on Thursday.

Presently, TH Heavy has an orderbook of RM1.5bil where the bulk of it is from its floating production, storage and offloading (FPSO) project.

TH Heavy is also in the midst of converting its first FPSO unit under a long-term charter contract which it had won in May 2014 with Japan’s JX Nippon Oil & Gas.

The contract entails TH Heavy providing its FPSO facility to JX Nippon for the Layang O&G field, located off the coast of Sarawak, where earnings would start to contribute in the third quarter of 2016.

TH Heavy’s shareholders also approved the company proposed rights issue to raise gross proceeds of up to RM300mil. Bulk of the proceeds would be used for its FPSO conversion.

Posted by kuttyravi > 2015-05-31 18:12 | Report Abuse

viper88 , if I decided to sell my rights to open market ,based on your previous experience how much usually be the selling price ?

Posted by viper88 > 2015-05-31 22:09 | Report Abuse

It will be based on the last trading price difference on closing day before the commencement of trading of rights entitlements in Mid June 2015.

If big players want to push the price up to get more investor to buy THHEAVY shares or subscribe for the rights, it will moves up. All dpds on the big player movement.

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

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.

Posted by kuttyravi > 2015-06-01 00:10 | Report Abuse

thanks viper88 !!!... Viper88 , so those public who buys the rights might just buy base on the difference as you pointed out might just ended up buying it just few sen per rights ?

If that's the case whoever buys it , will each rights equivalent to one (1) mother share ?

Posted by supernova > 2015-06-01 10:16 | Report Abuse

any indicative RI price?

hate going to bank making bank drafts

Posted by supernova > 2015-06-01 10:24 | Report Abuse

what will be the ratio? and any free warrant?

Posted by viper88 > 2015-06-01 10:32 | Report Abuse

Those who buy the renounceable rights need to pay 25 sen to be entitle the ICPS shares..if based on proposal. For more info, better call registrar or consult with broker/remiser.

Posted by supernova > 2015-06-01 10:33 | Report Abuse

i see, thx

Posted by rishi > 2015-06-01 15:57 | Report Abuse

Viper do you know when are they going to announce the RI date?

Posted by viper88 > 2015-06-01 16:39 | Report Abuse

Early June as per the proposal timeline.

Posted by supernova > 2015-06-01 16:50 | Report Abuse

looking at sumatec keep delay and delay for announce their RI, weird also

Posted by supernova > 2015-06-02 13:47 | Report Abuse

most o&g counters is recovering. rock bottom price now for thheavy?

Posted by SAMSOON8688 > 2015-06-02 15:38 | Report Abuse

YES,BOTTOM FISHING....

Posted by viper88 > 2015-06-02 16:31 | Report Abuse

In proposal, Tabung haji able to take up their rights issues and also have enough fund to take remaining ICPS. Theres some buying today at 0.25 & 0.255.
Need stronger buyer to move price further than right issue offer price at 0.25 so it will be attractive for shareholder and other investor to subscribe.. if just depend all on Tabung haji .. better do MGO take over direct.

Posted by supernova > 2015-06-05 10:36 | Report Abuse

keep sinking everyday!

Posted by viper88 > 2015-06-05 23:30 | Report Abuse

No announcement date yet when they going to allow the trade of renounceable rights for existing shareholders. If follow proposal timeframe should be by middle of June.
Price just howering around 0.24-0.25..

Posted by supernova > 2015-06-09 09:21 | Report Abuse

97c when coming back??

Posted by viper88 > 2015-06-09 14:49 | Report Abuse

Very low vol..

Posted by supernova > 2015-06-09 15:21 | Report Abuse

slightly rebound but still not good enough

Posted by viper88 > 2015-06-12 10:21 | Report Abuse

Some buying vol this morning at 0.245.
Annoucement for renounceable rights trading might out soon.