Not sure is a good thing or bad thing following this counter

It would be very strange if the management do not know about the suspension at all. I don't think a big corporation like petronas would simply suspend a license withhout giving enough warning in advance, whether orally or in writing. Something is not right.

Cancellation would be ideal for all.

SC is doing a great job 'respect'

Don't think SC will suspend this IPO. The purposed of the IPO is to catch fish, not to let it go. Now that they have the fishes in the net, don't think the fish can run without loosing a scale or two.

Can we quote Criminal breach of trust and sue them? Those cornerstone investors will just sit quietly? I am sure they will jump.

The LNG Reclassification plant supposed to be completed August last year if I am not mistaken. The plant is to cater for the LNG which will be imported from other countries via tanker. The liquid natural gas will then gasified into gas form and supplied via Petronas' PGU line to consumer. This additional gas is to cater for the huge demand of natural gas in Malaysia which is now the cheapest, cleanest and most efficient fuel compared to others. Because of the delay, Petronas Gas has lost million of dollars in term of income.

This post has been edited by bobmali: Jul 24 2013, 12:30 PM

luckily im din kena the ipo... sometimes not kena oso not a bad thing!!!

saw this news in paper today. Petronas is blacklisting ranhill. quite bad

Very2 bad timing indeed.

it might be not bad..petronas is black list the 51% subsidiary, not the whole group. revenue line impact might not that significant. Further, Ranhill can form another company to handle the petronas deal later...

all Ranhill's Petronas contract must go through Perunding Ranhill Worley (PRW) as PRW holds the license.

quote from the star,

"Rworley and/or any persons connected to it (PRW) would no longer qualify or be allowed to participae in any of Petronas' tender"

so for the O&G division, can hope to get contracts from oversea. Not sure if they can still bid contracts by other PSC locally like exxon, sapurakencana, shell etc.

This post has been edited by cristiano7mu: Jul 24 2013, 04:24 PM

it wont effect much for ranhill as ranhill control 80% johor water and sabah IPP electricity until year 2029 , but this still bad thing bad timing for ranhill

the question is not affected how great the percentage is ..... but how are they handle the news and delay it only after the allotment date ..... maybe something/someone is going to press the news to coming out ...... that's the right we as minor investors are worried now or in the future ....... as we know only small percentage of ppl only benefit from this exercise so we're bbq again? we must think from the minority shareholders perspective not the sharks !!!

note: i do not have vested interest

agreed. should give option refund. since dont know how much percentage of damage.

If Petronas blacklisted Ranhill and its subsidiary, its oil and gas business is doomed because the oil and gas division already had bad image. How to get new business from other company? More bad news is Ipo already priced in oil and gas business.

Since no one has supported CBT, to save hassles, can we complain to minority watchdog? Has anybody tried? I will look at their website now and try

You got a point there.

How bad would this news affect the IPO performance, we shall see next week

I will formally complain to SC after taking with Minority Watchdog.

Seriously, if you are impacted by this, you can go to police too.

I think they had hide this info to all the investor. FYI, I heard this new two months ago from my relative who work in OnG firm. Indirectly cause Ranhill have to retrench hundred of workers.

what you think will happen on the stock performance on the listing day