KUALA LUMPUR (June 14): TH Heavy Engineering Bhd (THHE) shares rose 8.33% in active trade this morning after it won a US$11.4 million (RM47.4 million) contract from Afcons Infrastructure Ltd of India for an offshore process platform project (CPP & LQUP) for the development of KG-DWN-98/2 NEP Block offshore India.

At 9.05am, THHE gained 0.5 sen to 6.5 sen with 2.22 million shares traded.

The group is undertaking the fabrication of piles for offshore jackets for the project, with the subcontract scheduled to commence in August and be completed on Dec 31, 2020 — contributing positively to its earnings and net assets per share in FY19 and FY20.