November 18, 2014

TH Heavy Engineering Secured RM90 Million Petronas Contract

KUALA LUMPUR - TH Heavy Engineering Bhd shares on Bursa Malaysia traded one sen better at 47.5 sen as at 11.34 am today after its unit reportedly secured a RM90 million Petronas contract for the East Java project.

Trading saw 10.856 million lots changing hands.

It was reported that TH Heavy's 30 per cent-owned unit, Berlian McDermott Sdn Bhd, had secured the contract for transportation, installation and pre-commissioning works from Petronas' state-controlled unit, PC Kelapang II Ltd.

The contract is expected to be completed by the end of first quarter 2015.

Source: Bernama