TH Heavy bags RM47m job in India
main news image

KUALA LUMPUR (June 13): TH Heavy Engineering Bhd (THHE) has bagged a US$11.4 million (RM47.4 million) sub-contract from Afcons Infrastructure Ltd of India for an offshore process platform project (CPP & LQUP) for the development of KG-DWN-98/2 NEP Block offshore India.

Under the sub-contract, THHE is to undertake the fabrication of piles for offshore jackets in relation to the project.

In a filing with Bursa Malaysia today, THHE said work on the sub-contract is scheduled to commence in August, with completion on Dec 31, 2020.

"The sub-contract is expected to contribute positively to the group's earnings and net assets per share for the financial years ending Dec 31, 2019 (FY19) to 2020 (FY20)," it added.

THHE shares closed up 0.5 sen or 9.09% at 6 sen, with 2.17 million shares done, bringing a market capitalisation of RM67.28 million.

Print
Text Size
Share