THHE not buying ICE Petroleum Engineering

TheStar Tue, Dec 22, 2020 08:10am - 3 months ago


THHE also confirmed a recent report by StarBiz that the company is in talks to buy the remaining 51% stake in its joint-venture company with Destini Bhd to build offshore patrol vessels.

PETALING JAYA: TH Heavy Engineering Bhd (THHE) will not be buying ICE Petroleum Engineering Sdn Bhd, after both companies mutually decided not to extend the non-binding memorandum of understanding (MoU) regarding the deal.

On March 13,2020, THHE said it had entered into a non-binding MoU to acquire ICE Petroleum Engineering from ICE Petroleum Ventures Sdn Bhd.

ICE Petroleum Engineering is engaged in mechanical engineering works and services, plant fabrication and installation for the oil, gas and petrochemical industries.

Meanwhile, THHE also confirmed a recent report by StarBiz that the company is in talks to buy the remaining 51% stake in its joint-venture company with Destini Bhd to build offshore patrol vessels.






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