TH Heavy Engineering was delisted from Bursa Malaysia on September 2022 after failing to come up with a restructuring exercise despite being given eight extensions.
It also signals the end of the road for the company previously known as Ramunia Holdings Bhd, which was one of the high flyers during the oil and gas industry’s boom years. Its wholly owned subsidiary, THHE Fabricators Sdn Bhd , was one of the few Petronas-licensed major fabricators and shipbuilders in Malaysia.
Attempts to shift focus towards building vessels such as the offshore patrol vessels for the ministry of home affairs were unsuccessful in reviving its financial standing. Global Mariner Offshore Services, Blackstone Technology Sdn Bhd and Dynac Sdn Bhd have reportedly filed applications to intervene in THHE’s ex-parte application.
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