Malaysia's THHE Receives More Winding-Up Calls

Malaysia's TH Heavy Engineering Berhad, a fabricator of offshore oil and gas facilities, disclosed Friday that winding-up petitions against the firm have been presented July 26 to The Kuala Lumpur High Court of Malaya from two companies for work completed, including that for a floating production facility to be deployed to the Layang field in Block SK10 off Sarawak, it said in separate filings with local stock exchange Bursa Malaysia.

The first winding-up petition was served by Nusapetro Sdn Bhd, with the firm seeking $399,001 (MYR 1,605,285), inclusive of interest rate, from TTHE. Nusapetro said the amount is for the supply of API610 centrifugal pumps package for the floating production, storage and offloading (FPSO) Layang project. 

Bicara Sepakat Sdn Bhd also submitted a winding-up petition against TTHE's 70 percent owned subsidiary THHE Fabricators Sdn Bhd, claiming $238,830.69 (MYR 960,877.98) inclusive of interest rate for the provision of piping fabrication, installation, hydrotest and reinstatement works.

"Except for the amount claimed, THHE is not expected to incur any further losses from the winding-up petition," TTHE said in separate announcements, adding that it will seek necessary legal advice on the matter with a view of defeating the petition.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  GLA is 'Single Accumulation', Largest ... (Mar 27)
 -  Software Developer Mltech Completes Fi... (Mar 27)
 -  Aberdeen City Council Lifts Finance Ba... (Mar 27)
 -  Total-Borealis-Nova JV to Build Ethane... (Mar 27)
 -  Shell to Sell Gabon Onshore Assets for... (Mar 24)


Most Popular Articles

From the Career Center
Jobs that may interest you
Contracts Advisor
Expertise: Contracts Administration
Location: Houston, 
 
Senior Contracts Specialist
Expertise: Logistics Management
Location: Louisiana, 
 
Financial Analyst - Finance and Investor Relations
Expertise: Accounting|Financial Analyst|Legal
Location: Dallas, TX
 
search for more jobs

Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
Updated in last 24 hours