THHE shifting business focus

Dateline 2016-11-28, NST:

TH Heavy Engineering Bhd (THHE) is shifting its business focus from oil and gas to supplying offshore patrol vessels (OPV), said Tabung Haji group managing director and chief executive officer Datuk Johan Abdullah.

He said the company might not be big on oil and gas any more as it wanted to focus on OPV contracts.

“It already has a fabrication yard. In Malaysia, we have only two. In China, 80 per cent of its fabrication yards are empty, which shows how bad it is in terms of oil and gas businesses on fabrication.

“What was being updated to me is that it is going to shift in terms of business focus,” he told the New Straits Times.

He said this when asked about updates on THHE following the arrest of its former CEO and two other personnel by the Malaysian Anti-Corruption Commission (MACC) on Nov 14.

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