TH Heavy Engineering active, up 22% on FPSO unit disposal talks

PETALING JAYA: TH Heavy Engineering Bhd (THHE) emerged as the most active stock today on market speculation that the group is in talks to dispose of its floating, production, storage and offloading (FPSO) unit to Yinson Holdings Bhd.
At 4.15pm, THHE shares rose 2 sen or 22.2% to 11 sen, with some 126.18 million shares changing hands.
Meanwhile, Yinson shares fell 2 sen or 0.5% to RM3.91 on some 4.79 million shares.
THHE, a Practice Note 17 (PN 17) company, has about six months to submit its regularisation plan to the authorities.
For six months ended June 30, 2017, its net loss narrowed to RM37.97 million compared with RM40.29 million in the previous corresponding period.