New Listing: Malaysia Marine and Heavy Engineering (MMHE)
MMHE is a wholly-owned subsidiary of MISC, which is 65% owned by Petronas . It has two main divisions namely engineering and construction (E&C), and marine conversion and marine repair . Its two fabrication yards were in Pasir Gudang (Johor) and Kiyanly (Turkmenistan). Being one of the 7 licensed offshore fabricators in Malaysia , MMHE tops both in terms of annual tonnage capacity and market share, mainly because backed by Petronas. Other fabricators were Sime Darby, Kencana, Boustead Heavy Industries, Brooke Dockyard, Ramunia and Oilfab. Meanwhile, its marine conversion business could expect more demand on its floating production system , driven by increased developments in deepwater oil and gas fields. In comparison, installation of fixed structures is not economical in water depths over 300m, thus, giving floating production an advantage. Key investment points: Almost guaranteed jobs from Petronas. International opportunities and technical know-how enhanced by strategic ...