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THHE says settlement deal with PTTEP Sarawak was worth RM16m

KUALA LUMPUR (March 2): Loss-making TH Heavy Engineering Bhd (THHE) said the settlement amount agreed between the group and PTTEP Sarawak Oil Ltd (formerly known as Murphy Sarawak Oil Co Ltd) was about RM16 million.
In a filing with Bursa Malaysia, THHE clarified that the amount owing by PTTEP to THHE s wholly-owned unit THHE Fabricators Sdn Bhd as at Dec 31, 2019 was about RM38 million.
The settlement amount agreed between both parties through the settlement agreement is approximately RM16 million, it said.
This settlement allowed both parties to look forward to a better future business relationship and to end the long outstanding dispute with PTTEP, the group added. ....

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TNB, UWC, Grand-Flo, CB Industrial, Advancecon, TH Heavy Engineering, Techfast, Kanger and Mieco

KUALA LUMPUR (March 2): Based on corporate announcements and news flow today, companies in focus on Wednesday (March 3) may include Tenaga Nasional Bhd (TNB), UWC Bhd, Grand-Flo Bhd, CB Industrial Product Holdings Bhd (CBIP), Advancecon Holdings Bhd, TH Heavy Engineering Bhd (THHE), Techfast Holdings Bhd, Kanger Holdings Bhd and Mieco Chipboard Bhd.
Tenaga Nasional Bhd (
TNB) via wholly-owned subsidiary TNB Renewables Sdn Bhd has entered into a binding term sheet of collaboration with Singapore-based Sunseap Group to tap into the renewable energy (RE) and corporate power purchase agreement (PPA) market in Singapore.
TNB president and chief executive officer Datuk Baharin Din said in a statement that the collaboration is timely, in anticipation of the tender launched by Singapore’s Energy Market Authority for a trial of the Malaysia-Singapore cross-border energy supply. The launch is expected to take place this month (March 2021), he said. ....

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