1. Date of presentation of winding-up petition and date winding-up petition was served

The winding-up petition against THHE was presented on 26th July, 2016 to The Kuala Lumpur High Court of Malaya, Winding-up No. WA-28NCC-622-07/2016 by Nusapetro Sdn Bhd (“Petitioner”) and a copy was served to THHE’s registered address on 28th July, 2016.

The case management is fixed on 9th August, 2016.

Felda Global Ventures (FGV) hit the media recently with a series of news and articles on: (i) potential Tradewinds stake sale, (ii) potential cancellation of the Eagle High deal, (iii) continued efforts to restructure its Land Lease Agreement, and (iv) reduced priority on a target to operate 1.0m ha by 2020. Combined with +38% 2Q16 FFB production, we expect the positive news flow to buoy investors’ sentiment leading up to its 2Q16 results. We increase our valuation basis and TP to RM2.10 (from RM1.58), on better investors’ confidence and receding risks. Our MARKET PERFORM call is maintained.

Series of fortunate events. Recent news reports on FGV highlighted a few new developments on the company, including; (i) a potential stake acquisition by Tradewinds Group, (ii) potential cancellation of the Eagle High deal, (iii) continued exploration in restructuring its Land Lease Agreement (LLA), and (iv) reducing priority on a previous target to operate 1.0m ha of plantations by 2020. We think the first two items could lead to renewed investors’ interest in the company, while the last one is an indicator of the new management’s plan to focus on the basics by improving performance of existing assets. Meanwhile, we are neutral on the renegotiation of the LLA as this has been in the works for quite some time.

Eagle High deal on the back burner. The Star reported on 28-Jul-2016 that “an investment unit of Felda may sign an agreement for the acquisition of a significant stake in Indonesian planter Eagle High Plantations Tbk”, where representatives from Rajawali Group and Felda may be meeting in Jakarta this week to conclude the deal. The Star added that with Felda undertaking the transaction, “FGV does not have to participate in the investment” which we expect will ease the negative sentiment that has plagued FGV’s share price since the deal was proposed in Jun- 2015. As noted in our company update on 17-May-2016, we think the resolution of the Eagle High acquisition could be a potential re-rating catalyst for FGV.

Production pickup, but drought setbacks linger. In the May-2016 management briefing, management noted that 2Q16 production was likely to pick up strongly against the previous quarter by c.40%. Based on monthly production reports, FFB production has indeed improved by 38%, for 1H16 FFB production of 1.86m MT. This makes up 45% of our full-year FFB production forecast, roughly in line with the 3-year average of 47% for 1H production. Despite the strong pickup, 1H16 production remains lower against 1H15 by 12%, reflecting setbacks from the very weak production in 1Q16 due to weather impact. Meanwhile, we still expect full-year FFB production to decline by 10%, well below the sector average of +3% YoY.

Risks remain. While news reports are generally positive, we note that several key risks remain over the near- and long- term. In the short-term, we expect CPO prices to trend down in 3Q16, which could dampen sentiment across the sector. Over the long-term, we also note that FGV’s RSPO re-certification will likely take some time, with initial estimates of about 3 years. Meanwhile, FGV as remains the planter with the oldest average age among planters under our coverage at c.17 years compared to the sector average of 10 years.

Maintain MARKET PERFORM with higher TP of RM2.10 (from RM1.58) based on a higher Fwd. PBV of 1.2x applied to an unchanged average of FY16-17E BVPS of RM1.77. Our Fwd. PBV of 1.2x is based on -0.5SD valuation (previously -1.0SD valuation) as we believe the coming conclusion of the Eagle High deal and strong production improvement should strengthen investors’ confidence in the company. However, we maintain our negative valuation basis given negative YoY FFB production growth prospect and lack of RSPO credentials. With near-term optimism offset by long-term risks, we maintain our MARKET PERFORM view on the stock.

Source: Kenanga Research - 3 Aug 2016

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5166077

see how then

hopefully la

JJ your cost 8c?

smart move

JJchan can this be regarded as bail out THHEAVY?

yesterday morning also like this

Posted by HengLiang > Aug 2, 2016 10:31 AM | Report Abuse

trap....day day same pattern meh...

i_investor ,this one is old news

jj is this a good news?

any news on thheavy?

What happen? why it suddenly move?

We refer to our announcement dated 26 July 2016 on the query received from Bursa Malaysia Securities Berhad on Unusual Market Activity.



The Board of Directors of THHE is pleased to announce that the Company has received a non-binding letter of intent dated 27 July 2016 (“Letter of Intent”) for the Supply, Delivery, Testing and Commissioning of Three (3) units of Offshore Patrol Vessels complete with Fittings and Accessories (OPV) for Agensi Penguatkuasaan Maritim Malaysia (“APMM”) or Malaysian Maritime Enforcement Agency (“MMEA”) (“Project”).



This Letter of Intent shall be subject to a mutual agreement being reached between APMM and the Company wherein the Company will make further announcement on the matter.


None of the Directors or substantial shareholders of the Company or persons connected with them has any interests, direct or indirect, in the matter.


This announcement is dated 28 July 2016.

.................

i not focus on Genting.

anyone find out what cause the drop?

Caslim Buy in 8.43

good buy bro

why sharp drop , any idea?

uma

what happen actually?

14c,,,,,

http://klse.i3investor.com/blogs/kianweiaritcles/100429.jsp

suddenly spike up dono what happen

i think pass few weeks those syndicate collected below 50c, and push up just to dispose around 55-60c

this wave until 60c then starts throwing down........

breakeven i also sell already

Posted by ThunderCool > Jul 21, 2016 03:47 PM | Report Abuse

Wow, i got nice run. Good luck, bad luck who knows? Most important is i got profit.

disaster

now left 15.5c , lucky i breakeven 17 c

i think 1MDB issue affect whole market

quite fishy, and risky

not sure will move or not

lucky breakeven back 17c

i bought 17c today, i shouldnt sell my 15c which i bought at 14.5c

suddenly all pennies going up, ifca , xox, priva, etc

my advice, if got profit , just take

i see the queue , someone queuing buyer 5000 lot just now let retailers eat higher

seems fake...

what happen to SYCAL

no news wor

SELAMAT Hari Raya

now 91.5c

why suddenly up ? any news?

warrant i assume 30 % premium lo

warrant will be listed maybe 29th june

somemore then share issue of solution very little, only 200 mil shares in the market

nowadays this market has little counters give bonus issue, mostly right issue

if mother adjust down to around 30c, warrant will be 17c, assuming 30% premium

now already 44c

On behalf of the Board of SEHB, M&A Securities Sdn Bhd wishes to announce that the Board has on 13 June 2016 resolved to fix the exercise price for the Warrants to be issued pursuant to the Bonus Issue of Shares with Warrants at RM0.20 per Warrant (“Exercise Price”).



The aforementioned Exercise Price represents a discount of approximately 33.8% to the theoretical ex-bonus price of SEHB Shares of approximately RM0.3022 and a discount of 27.7% to the theoretical ex-all price of SEHB Shares of RM0.2767, based on the 5D-VWAP of SEHB Shares up to and including 10 June 2016 of approximately RM0.4533 per Share.



The exercise price for the Warrants was determined by the Board after taking into consideration, amongst others, the following:



(i) The 5D-VWAP of SEHB Shares from 6 June 2016 to 10 June 2016 of approximately RM0.4533;

(ii) Prevailing market conditions;

(iii) Trading and liquidity of SEHB Shares;

(iv) Theoretical ex-bonus and ex-all prices of SEHB Shares of approximately RM0.3022 and RM0.2767, respectively;

(v) The par value of SEHB Shares of RM0.10 each; and

(vi) That the Bonus Shares and Warrants will be issued at no cost to the Entitled Shareholders.



This announcement is dated 13 June 2016.