Ranhill to Make A Second Attempt to List on Malaysia Stock Exchange

Malaysia's engineering services company Ranhill Energy and Resources Bhd CEO Hamdan Mohamad is making another attempt to list on the stock market Bursa Malaysia after withdrawing its initial public offering in July, local daily The Star reported Saturday citing sources.

The application followed Ranhill's withdrawal to list on Bursa following a breach in disclosure relating to the suspension of licenses of its affiliate company, Perunding Ranhill Worley Sdn Bhd (PRW), by Malaysia's national oil and gas company Petroliam Nasional Bhd for an indefinite period.

Malaysia's Securities Commission subsequently imposed a fine of $62,160 (MYR 200,000) on Ranhill, while Hamdan was reprimanded and fined $93,240 (MYR 300,000) for failing to report on the licensing issue.

Ranhill had planned to raise $236 million (MYR 753 million) from the IPO on Bursa Malaysia.

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