MISC not in talks to acquire THHE businesses

PETALING JAYA: MISC Bhd has denied news reports of a plan to acquire loss-making TH Heavy Engineering Bhd’s (THHE) floating production and fabrication businesses.
MISC told Bursa Malaysia that it is not involved in any ongoing discussions with THHE in relation to the acquisition.
News report said there have been talks between MISC and THHE on the deal, but there are indications that the parties involved could not agree on the sale and purchase price.
THHE, which has been suffering from the oil price slump, incurred a narrowed net loss of RM44.79 million for the financial year ended Dec 31, 2015 compared with RM76.45 million in 2014.
MISC’s share price was up 1 sen to RM8.36 yesterday, while THHE’s was unchanged at 13.5 sen.