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 upgraded 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
Floating Production Storage and Offloading (FPSO)
Kikeh and the
Kikeh 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. In April 2012, through the yard optimisation initiative, MHB expanded its yard size and capacity with the acquisition of new land for the fabrication of offshore oil and gas related structures, to cater to EPCIC works. The acquisition has significantly increased MHB's Pasir Gudang yard capacity from 69,700 MT to 129,700 MT, making MHB the largest fabricator in Malaysia today in terms of yard size and capacity. In conjunction with the acquisition, MMHE's yard in Jalan Pekeliling was renamed “MMHE West”, while the newly acquired yard is now known as “MMHE East”. There are approximately 4,000 operations and services support staff working at both yards in Pasir Gudang as well as in the Group Corporate Office in Menara Dayabumi, Kuala Lumpur on any given day. Today, MHB is recognised as a regional heavy engineering and deepwater support services provider for the oil and gas deepwater industry as well as a key player for
LNG ship repair and dry docking. MHB is also a one-stop centre for marine conversion. Through partnerships with
Samsung Heavy Industries of
South Korea,
Technip S.A. of
France and ATB Riva of
Italy, all of whom are leaders in their respective fields, MHB have improved their offerings through the enhancement of capabilities and the transfer of technology. == Core businesses ==