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KUALA LUMPUR (Dec 10): TH Heavy Engineering Bhd (THHE) has inked a memorandum of understanding (MoU) with highway constructions group MTD Capital Bhd to secure an infrastructure project in the northern region of Peninsular Malaysia.
In a statement Thursday (Dec 9) THHE, a subsidiary of Urusharta Jamaah Sdn Bhd, said the deal was also to explore collaboration opportunities in civil engineering and construction business, both locally and internationally.
It said both companies shall jointly participate in various projects that have been announced by the government under the 12th Malaysia Plan with an initial target order book of RM1 billion within the next few years.
THHE executive committee member Ahmad Yusof Mohamad said that THHE’s foray into civil engineering and construction business is part of its long-term strategy to diversify its revenue stream.
“This collaboration will also pave the way for THHE to submit a more credible and sustainable Regularisation Plan to its stakeholders," he said.
THHE was last done at 1 sen, valuing it at RM22.21 million.
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