The Star Online: Business
The Star Online: Business |
- TH Heavy shares, warrants up on Petronas contract talk
- Frontken jumps on RM111m contract
- Genting, UMW weigh on KLCI
| TH Heavy shares, warrants up on Petronas contract talk Posted: KUALA LUMPUR: TH Heavy Engineering Bhd (THHE) and its warrants rose during midmorning on Wednesday on talks that it is close to winning a significant contract, according to Starbiz on Tuesday. At 9.39am on Wednesday, THHE shares tose 3.5 sen to 90 sen with 12.69 million shares traded between 88 sen and 90 sen. Its warrants rose three sen to 48 sen with 10.71 million units done between 46.5 sen and 48.5 sen. The FBM KLCI fell 5.11 points to 1,787.37. Turnover was 441.37 million valued at RM154.2mil. There were 176 gainers, 173 decliners and 225 counters unchanged. Starbiz said market talk is that THHE is the frontrunner for the massive fabrication job by Petroliam Nasional Bhd (Petronas) for the latter's SK316 field. It said THHE had jointly bid for the US$1bil (RM3.22bil) job with McDermott International Inc, and has already been announced. Sources told StarBiz that Petronas would announce the winner next month. The project entails the development of two gas fields in the SK316 block, sited about 200km north of Bintulu, Sarawak. The development will comprise a central processing platform and a bridge-linked wellhead platform. The other bidder for the job is the joint venture of Malaysia Marine and Heavy Engineering Holdings Bhd and Technip SA. |
| Frontken jumps on RM111m contract Posted: KUALA LUMPUR: Frontken Corporation Bhd's shares and warrants surged in active trade early Wednesday after it secured a US$34.5mil (RM110.6mil) contract for a facility in Tanjung Bin, Johor. At 9.33am, Frontken was up two sen to 9.5 sen with 51.99 million shares done while its warrants jumped 1.5 sen to five sen with 47 million units traded. The FBM KLCI fell 5.36 points to 1,787.12. Turnover was 408.88 million shares valued at RM134.69mil. There were 167 gainers, 168 losers and 209 counters unchanged. On Tuesday, Frontken announced it bagged a US$34.5mil (RM110.6mil) contract from ATT Tanjung Bin Sdn Bhd to be the main contractor for a facility in Tanjung Bin, Johor. It said the job comprised of the engineering, procurement, construction and commissioning of ATB2 Ph-2 terminal and jetty top-site for the proposed hydrocarbon storage and distribution facility. The project is to be completed within 20 months from the date of the letter of award. |
| Posted: KUALA LUMPUR: Malaysia's blue chips extended their losses for third day on Wednesday, with the FBM KLCI opened down nearly five points on mild selling of Genting Bhd, UMW and BAT, in line with the subdued Asian bourses. At 9am, the KLCI was down 4.42 points to 1,788.06. Turnover was 31.80 million shares valued at RM7.33mil. There were 46 gainers, 42 losers and 71 counters unchanged. BAT fell the most, down RM1.62 to RM63.18 with 200 shares done as its late rally on Tuesday fizzled out. UMW fell 14 sen to RM12.58 and Genting Bhd eight sen lower at RM10.30. Among the banks, RHB Cap lost nine sen to RM7.89 and Public Bank four sen to RM17.84. Petronas Gas fell 54 sen to RM21.44 but with only 100 shares done while PPB Group lost 24 sen to RM14.20 with only 100 units done also. Frontken jumped two sen to 9.5 sen with 8.44 million shares done and its warrants added one sen to 4.5 sen after it secured a RM111mil job to be the main contractor for engineering, procurement, construction and commissioning works for terminal and jetty facilities in Tanjung Bin, Johor. Petronas Dagangan rose 22 sen to RM29. BIMB added six sen to RM4.70 and Bursa five sen to RM7.55. Matrix gained six sen to RM2.93 while Ho Hup inched up four sen to RM1.40 and Muhibbah three sen higher to RM2.34. |
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