Malaysia’s Petronas has dismissed rumours of a merger between Malaysia Marine and Heavy Engineering Holdings (MHB) and Sapura Energy.
Speculation of a potential combination between two offshore and marine contractors started following local media reports that preliminary discussions had been held between Petronas and Permodalan Nasional, the majority shareholders of MHB and Sapura Energy, respectively.
However, in a statement on Monday, the state oil firm “categorically denied” these speculations.
“Any investment or divestment consideration within the Petronas Group has always been and will continue to be strictly guided by a board-approved and management-enforced framework,” the company said in a statement.
Petronas was last year linked to a move on debt-laden Sapura, but the takeover rumours were also publicly dismissed by the company.
