State-owned Petronas is understood to have issued a statement on the licence suspension effective from 17 July.
The suspension implies the Malaysian joint venture, Ranhill Worley, will no longer qualify or be allowed to participate in any Petronas tenders. It also implies Ranhill Worley stands to lose out on the awards of any contracts in the tender pipeline.
The contracts due to be awarded to Ranhill Worley will be awarded to the next recommended bidder after negotiations, sources said.
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