Posted by i_investor > 2016-02-25 16:02 | Report Abuse

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TH Heavy Engineering Bhd saw its net loss for the fourth quarter ended Dec 31, 2015 (4QFY15) narrowed to RM7.07 million or 0.63 sen per share, from RM71.99 million or 7.15 sen per share, mainly due to lower impairment loss on receivable, as well as lower losses from on-going fabrication projects.

http://www.theedgemarkets.com/my/article/sime-darby-tm-cliq-energy-karex-mbsb-petgas-parkson-ccm-th-heavy-mbm-resources-protasco


RECAP:

RM2.9bn. EPCIC and FPSO contract secured by TH Heavy Engineering from JX Nippon Oil & Gas Exploration (JXN) to commence in FY16. (THE STAR)

The FPSO will be deployed in early-2016 once the Layang field starts production.

The FPSO leasing contract is for a fixed term of 7 years (USD372m or RM1.2bn) with 10 annual optional extensions (USD475m or RM1.47bn). The charter improves long term earnings visibility.

The contract is positive for TH Heavy as it ensures stable recurring income from FY16 onwards.

The daily charter rate works out to be RM470k/day for the fixed term

The contract includes provision of engineering, procurement, construction, installation and commissioning (EPCIC) and leasing of the floating production storage and offloading vessel, Deep Producer 1 (DP1), for the Layang Development Project, offshore Sarawak.


http://www.thestar.com.my/business/business-news/2014/05/16/thhe-wins-first-fpso-contract/


http://www.bursamarketplace.com/index.php?ch=25&pg=90&ac=1454&bb=research_article_pdf


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Posted by i_investor > 2016-02-25 16:04 | Report Abuse

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TH Heavy Engineering Bhd saw its net loss for the fourth quarter ended Dec 31, 2015 (4QFY15) narrowed to RM7.07 million or 0.63 sen per share, from RM71.99 million or 7.15 sen per share, mainly due to lower impairment loss on receivable, as well as lower losses from on-going fabrication projects.

http://www.theedgemarkets.com/my/article/sime-darby-tm-cliq-energy-karex-mbsb-petgas-parkson-ccm-th-heavy-mbm-resources-protasco


RECAP:

RM2.9bn. EPCIC and FPSO contract secured by TH Heavy Engineering from JX Nippon Oil & Gas Exploration (JXN) to commence in FY16. (THE STAR)

The FPSO will be deployed in early-2016 once the Layang field starts production.

The FPSO leasing contract is for a fixed term of 7 years (USD372m or RM1.2bn) with 10 annual optional extensions (USD475m or RM1.47bn). The charter improves long term earnings visibility.

The contract is positive for TH Heavy as it ensures stable recurring income from FY16 onwards.

The daily charter rate works out to be RM470k/day for the fixed term

The contract includes provision of engineering, procurement, construction, installation and commissioning (EPCIC) and leasing of the floating production storage and offloading vessel, Deep Producer 1 (DP1), for the Layang Development Project, offshore Sarawak.


http://www.thestar.com.my/business/business-news/2014/05/16/thhe-wins-first-fpso-contract/


http://www.bursamarketplace.com/index.php?ch=25&pg=90&ac=1454&bb=research_article_pdf


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Posted by pirate99 > 2016-02-26 00:09 | Report Abuse

Think they need to handover the fpso on urgent basis to avoid further cost overrun and Liquidity Damages (LD),if any.. now staying sidelined is much better.. my 2cents.. :)

Posted by timed > 2016-02-26 14:16 | Report Abuse

no new project = loss counter

Posted by sheep > 2016-02-26 14:18 | Report Abuse

you buy, you die...

Posted by Ameera > 2016-02-26 15:04 | Report Abuse

Shit!

Posted by TAH > 2016-02-26 15:21 | Report Abuse

On the route to PN 17, becareful

Posted by ktsk88 > 2016-02-26 16:15 | Report Abuse

Good that it goes into PN17 so that Tabung Haji will made a total loss of investment in THHE for over $1.4 billion including corporate guarantee and shareholding.

Posted by Ayat > 2016-02-26 17:43 | Report Abuse

Where is my darling Ayam Tua?

Posted by Ammar Roshidy > 2016-02-26 18:00 | Report Abuse

They will pull through, just need a firm, patient and focused. Dato Azis has always pulls through.

Posted by ktlum84 > 2016-02-26 23:48 | Report Abuse

this is a politic game, THaji unable to make another mistake!! no worry, just like Ammar said, it is a matter of time..

Posted by Ibi_chan > 2016-02-28 15:33 | Report Abuse

Still got future for this stock?

Posted by 4444 > 2016-02-28 16:32 | Report Abuse

Rafizi exposes Tabung Haji letter giving RM1 billion corporate guarantee - See more at: http://www.themalaysianoutsider.com/malaysia/article/rafizi-reveals-letter-on-putrajayas-approval-for-tabung-hajis-risky-investm#sthash.52hCGVgE.dpuf

Posted by spectre007 > 2016-02-28 18:10 | Report Abuse

http://www.thestar.com.my/news/nation/2016/02/28/tabung-haji-refutes-claims-lodges-police-report-against-rafizi-ramli/

Which one is true?

Posted by timing > 2016-02-28 18:42 | Report Abuse

luckily cut loss earlier.

Posted by ktlum84 > 2016-02-29 00:13 | Report Abuse

Seen like this counter will fly soon, LTH will push up the price..

Posted by ktlum84 > 2016-02-29 00:15 | Report Abuse

LTH will instruct petronas to give project to THHE!!!!

Posted by timing > 2016-02-29 18:20 | Report Abuse

net profit loss 14m

Posted by bunga_raya > 2016-02-29 19:19 | Report Abuse

RM 14 million loss. No wonder Rafizi said Tabung Haji can go bankrupt.

Posted by Ameera > 2016-02-29 19:48 | Report Abuse

:(:(:(

Posted by ivan9511 > 2016-03-01 01:12 | Report Abuse

i am the victim , kena tipu, I have been cheated

Posted by i_investor > 2016-03-01 08:39 | Report Abuse

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Oil rise 3 percent as China moves to boost economy, crude output drops

http://www.reuters.com/article/us-global-oil-idUSKCN0W2029

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Posted by i_investor > 2016-03-01 09:36 | Report Abuse

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RECAP:

RM2.9bn. EPCIC and FPSO contract secured by TH Heavy Engineering from JX Nippon Oil & Gas Exploration (JXN) to commence in FY16. (THE STAR)

The FPSO will be deployed in early-2016 once the Layang field starts production.

The FPSO leasing contract is for a fixed term of 7 years (USD372m or RM1.2bn) with 10 annual optional extensions (USD475m or RM1.47bn). The charter improves long term earnings visibility.

The contract is positive for TH Heavy as it ensures stable recurring income from FY16 onwards.

The daily charter rate works out to be RM470k/day for the fixed term

The contract includes provision of engineering, procurement, construction, installation and commissioning (EPCIC) and leasing of the floating production storage and offloading vessel, Deep Producer 1 (DP1), for the Layang Development Project, offshore Sarawak.


http://www.thestar.com.my/business/business-news/2014/05/16/thhe-wins-first-fpso-contract/


http://www.bursamarketplace.com/index.php?ch=25&pg=90&ac=1454&bb=research_article_pdf


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Posted by timing > 2016-03-02 10:22 | Report Abuse

PN17 soon?

Posted by lbhock123 > 2016-03-02 10:55 | Report Abuse

Lightnong strike twice ?!!

Posted by Ibi_chan > 2016-03-05 14:51 | Report Abuse

No turnaround plan for this company?

Posted by ivan9511 > 2016-03-06 19:02 | Report Abuse

who say will pn17, dun scare me leh , I heard goverment will save this counter ?

Posted by Ameera > 2016-03-06 20:38 | Report Abuse

Omg! Pray pray not going to PN17!

Posted by timing > 2016-03-07 20:47 | Report Abuse

yes, TH will save this counter

Posted by Sfg28 > 2016-03-11 18:36 | Report Abuse

TH is somewhat like waiting for Po Sak Goh Kong so how to save thheavy.

Posted by ivan9511 > 2016-03-11 20:34 | Report Abuse

If oil down again . This th will go to Holland first . Never profit . Only know how to rugi money

Posted by Sfg28 > 2016-03-11 22:12 | Report Abuse

Enroute to Holland very certain. Hope miracle can happen sometimes. Every happening is always man made. It is either good, bad or even worst disastrous. Pray thheavy can maintain Malaysia boleh spirit to pull through this toughest period of survival.

Posted by ivan9511 > 2016-03-13 18:09 | Report Abuse

this month got oil meeting whther cut produce or not

Posted by KedahMalay > 2016-03-13 21:09 | Report Abuse

i already cutloss...then buy other counter..get money back...if this counter want to go up..ready to buy

Posted by KedahMalay > 2016-03-13 21:14 | Report Abuse

just pray...maintain price not going down..maybe can go up..TH will support

Posted by derrtan > 2016-03-13 22:42 | Report Abuse

I have had project with this fabricator for Permas, and bid for layang FPSO and D12 Laila. i advise avoid this counter. they are willing to award to their colony at much higher price and yet they don't pay unless you are political linked to their management.. they are opportunist not business man

Posted by RVI123 > 2016-03-14 10:32 | Report Abuse

Tabung Haji went into this business that they do not have any expertise in. They can't make money even during good time, let alone during bad time like this. I think they will eventually sell off this company.

Posted by Pavillion > 2016-03-14 11:09 | Report Abuse

If that happen...final blow to TH & Najib

Posted by annmix > 2016-03-14 11:30 | Report Abuse

Sudde sell down at 13.5, no eye see

Posted by ivan9511 > 2016-03-20 18:37 | Report Abuse

THHEAVY NO PROFIT , VERY HARD TO UP, UNLESS NEXT TIME NET PROFIT ?

Posted by Tycoon Analyst > 2016-03-30 12:20 | Report Abuse

What happen to his counter? Death already?
I know it, my friend who working there says they dont have money to complete the FPSO project. And been doing their retrenchment exercise. I guess this is end of THHE.

Posted by 914601117 > 2016-04-04 21:26 | Report Abuse

Referring to announcement, the company DID NOT DENY the report is inaccurate, indirectly admitting that they really short of $$..


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OTHERS TH HEAVY ENGINEERING BERHAD ("THHE" or "the Company") - Clarification of News Report carried by The Edge Malaysia

TH HEAVY ENGINEERING BERHAD

Type Announcement
Subject OTHERS
Description TH HEAVY ENGINEERING BERHAD ("THHE" or "the Company") - Clarification of News Report carried by The Edge Malaysia
We refer to the news story that appeared in The Edge Malaysia on 4 April 2016 entitled “FPSO contract in hand but no money to execute it”.

The Company wishes to clarify that the said news story that reads: “While the details were unclear at press time, THHE is understood to owe Drydocks World – where Deep Producer 1 is being refurbished – some US$200 million” is inaccurate.

To the best of the Company’s knowledge, the Company was not contacted by The Edge Malaysia and the Company is not in a position to state where the author of the news story obtained such information.

We trust the above clarifies the matter.

This announcement is dated 4 April 2016.

Posted by The One > 2016-04-04 23:17 | Report Abuse

http://www.theedgemarkets.com/my/article/thhe-seeks-clarification-exclusion-future-petronas-carigali-tenders

Posted by timing > 2016-04-04 23:20 | Report Abuse

TH will support i think as TH is major shareholder

Posted by bunga_raya > 2016-04-05 06:10 | Report Abuse

Petronas bars TH Heavy Eng subsidiary from future tenders
http://www.thestar.com.my/business/business-news/2016/04/04/petronas-bars-th-heavy-eng-group-member-from-bidding-in-future-tenders/

Posted by Jolin Lai Chi Pet > 2016-04-05 08:10 | Report Abuse

limit down..............

Posted by KG1967 > 2016-04-05 12:08 | Report Abuse

ppl no confident at all

Posted by KG1967 > 2016-04-05 12:09 | Report Abuse

time to throw

Posted by KG1967 > 2016-04-05 12:10 | Report Abuse

ready to close down

Posted by The One > 2016-04-05 13:34 | Report Abuse

R.I.P. Ramunia...