Ranhill Withdraws Plan to List on Bursa Malaysia

Ah, Ranhill, what shall we do with thee? Dateline 2013-07-29, Rigzone:

Ranhill Energy and Resources Bhd announced that it has withdrawn an initial public offering (IPO) to raise $236 million (MYR 753 million) on Malaysia’s stock exchange Bursa Malaysia.

This follows the disclosure last week that Malaysia’s national oil and gas firm Petroliam Nasional Bhd (Petronas) has suspended an affiliate’s license following a review of a construction project. The affiliate Perunding Ranhill Worley Sdn Bhd (PRW) cannot bid for any projects from Petronas without the license.

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