Malaysian Marine and Heavy Engineering
 |
|
| Public limited company | |
| Traded as | MYX: |
| Industry |
Marine engineering Prefabrication |
| Founded | 1989 |
| Headquarters | Kuala lumpur, Malaysia |
|
Key people
|
Dominique De Soras (Managing Director & CEO) |
| Products | Offshore Construction Offshore Conversion Marine Repair |
| Revenue |
 RM2.9 billion (end 2013)(US$0.88 billion) |
| Total assets |
 RM5.02 billion (end 2013)(US$1.53 billion) |
| Total equity |
RM2.58 billion (end 2013) (US$0.79 billion) |
|
Number of employees
|
4,000 |
| Website | www |
Malaysia Marine and Heavy Engineering Holdings Berhad (MHB) is a Malaysian owned shipbuilding and heavy engineering industries company. It was formerly known as Malaysia Shipyard and Engineering Sdn Bhd. MHB has been long involved in oil and gas engineering and construction works.
In March 2004, Malaysia International Shipping Corporation Bhd (MISC) increased its shareholding in MMHE to 65%, making it the majority shareholder of the Company.
MHB was incorporated in Malaysia in 1989 as a private limited company, under the name MSE Holdings Sdn Bhd. In June 2010, when MSE Holdings was converted into a public company, its name was changed to Malaysia Marine and Heavy Engineering Holdings Berhad (MHB).
On 29 October 2010, MHB was successfully listed on the Main Market of Bursa Malaysia Securities Berhad, with its Initial Public Offering (IPO) raising of RM2.03 billion. The IPO was the first in Malaysia to be conducted with an international strategic investor, Technip S.A. of France, a renowned player in project management, engineering and construction in the oil and gas industry.
The history of MHB dates back to the incorporation of its wholly owned subsidiary, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) in May 1973, under the name of Malaysia Shipyard and Engineering Sdn Bhd (MSE). MSE was established by the Government to advance Malaysia’s maritime industrialisation programme. It was subsequently privatised and in 2006, became a wholly owned subsidiary of MISC Berhad. Being within the MISC Group of companies enabled the two organisations to align their goals and objectives to create greater synergies.
One of MHB’s achievements was the completion of the FPSO Kikeh and the Kikeh Truss SPAR for the Kikeh field in September 2006, Malaysia’s first deepwater project. FPSO Kikeh was the first deepwater FPSO in Malaysia and the SPAR platform was the first to be installed outside of the Gulf of Mexico.
Another milestone was achieved in 2007 when the MHB Group ventured abroad to operate and manage the Kiyanly yard, the only fabrication yard in Turkmenistan, on behalf of PETRONAS Carigali (Turkmenistan) Sdn Bhd.
The most recent significant achievement was the completion of the Gumusut-Kakap semi-floating production system (FPS). It is the largest such facility in the world to have been fully built and integrated on land. The FPS left the MMHE West yard in Pasir Gudang, Johor on 13 May 2013. MMHE East and MMHE West are the only fabrication yards in South-east Asia to have constructed deepwater facilities in Malaysia for its international oil and gas clients.
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Wikipedia