Later on the exact listing date.. Another mega hit news come on Ranhill again.. Lol

Wah! Like that also can ? License suspended and a day later got it back ? What a joke!

Anyway, Ranhill reputation has been affected and i don't think the stock will be as hot as before. Most investors will be cautious about the development in the future in case similar issue happen again! My 2 cents.

Your 2 cents is worth 22 cents i think.
Yea many investor will take a step back and reconsider.

Suka suka dia cakap gantung license n then dpt balik??? I doubt how they do things? Must b some under table things going on!!!!

Petronas management took weeks to decide the suspension of Ranhill O&G unit license but it took 1 day to restore it! Something is totally wrong!

Even Ranhill can proceed with the listing. To be fair, investors should be given options to decide if they want to subcribe it or not. Another listing date and balloting process ?

Do you still trust the management of Ranhill after this? Petronas sure kena political pressure.

Ballot again sure under subscribe!

Like selling banana only ..... itu pisang gantong pon ok, put on table olso ok ..... lagi main2 .....

Joke of the century.

whatever it is.. give us fat premium. min RM36k

Dunno give how much $$$$ to some individual in Petronas this time around.

Petronas removes Ranhill unit suspension, investors awaiting news on Ranhill Energy's listing

PETALING JAYA: Now that Petroliam Nasional Bhd (Petronas) has lifted its suspension on a key unit of Ranhill Energy and Resources Bhd, investors are keenly awaiting news on the latter’s listing.

At press time, the Securities Commission (SC) had yet to issue a statement. On Wednesday, the SC had instructed the relevant parties to defer Ranhill Energy’s listing date and allotment of shares to investors.

This is malaysia culture....

yeah now only I think this news was tailor made, the next announcement will be the key...dont be surprise if they put on a show like getting or being frontrunner of a new job from petronas...nice

The title is encouraging

RANHILL Energy and Resources Bhd’s RM753 million initial public offering (IPO) seems to be back on track after Petroliam Nasional Bhd (Petronas) lifted a freeze on a licence owned by an affliate company.

It is understood that Ranhill will meet with key Securities Commission (SC) officials early next week to discuss if the IPO can proceed as originally scheduled.

The stock was due to debut on Bursa Malaysia’s Main Market on July 31.

“The SC will make a decision on whether to allow Ranhill to be listed next Wednesday, or have them reschedule the IPO to a later date,” sources told Business Times.

The SC had on Wednesday instructed Ranhill and its principal adviser Maybank Investment Bank Bhd to defer the IPO following the licence freeze.

Petronas suspended Perunding Ranhill Worley Sdn Bhd (PRW), a company 90 per cent-owned by Ranhill Energy’s chief executive officer Tan Sri Hamdan Mohamad, after a review of its construction work on the Malacca liquefied natural
gas (LNG) regasification project.

Yesterday, WorleyParsons Ltd — Australia’s biggest oil and gas engineering company — told Bloomberg that the permit had been restored after reaching a resolution with Petronas.

Bloomberg also quoted the SC yesterday as saying that the listing deferment will continue.

“This is until all necessary steps have been taken to ensure that relevant disclosure is made to enable informed decisions, and, if necessary, the IPO applicants are given the opportunity to decide on whether to continue investing in the company,” it said.

The licence enables PRW to bid for Malaysian projects awarded by Petronas, which had pledged to spend RM300 billion in capital expenditure between 2011 and 2015.

Petronas manages the rights to Malaysia’s oil and gas (O&G) reserves. Without a Petronas licence, companies cannot bid for local O&G jobs.

PRW had appointed Ranhill WorleyParsons Sdn Bhd (RWorley) for secured projects in Malaysia.

RWorley is jointly owned by Ranhill and WorleyParsons.


Read more: Ranhill Energy IPO ‘back on track’ http://www.btimes.com.my/Current_News/BTIM...l#ixzz2a79eU0az

Well that only means Ranhill have to right to bid for Petronas job, but Petronas is not oblige to award the contract to Ranhill..... Am I right? Political influence might forced Petronas to backtrack on the decision of revoking Ranhill's licence within days. But if you are Petronas will you still award contract to a company that you once tried to blacklist?

I thought it have something to do with WarleyP more than Ranhill. Its JV partnership.
PETROLIAM Nasional don't like orang asing

But..... Technip is currently sapuing all the local O&G contract and Technip is also orang asing company.

i believe is the political pressure...with Tabung Haji as the corner stone investor...

Anything related to Tan Sri Hamdan,,,becareful....remember Senai Desaru Expressway....just matter of time....

big cornerstone supporting rahill ipo.