Petronas hands THHE two-year tender ban

摘要

Malaysia’s state-owned Petronas Carigali has banned a subsidiary of compatriot engineering player TH Heavy Engineering (THHE) from tendering for any work it offers to the market for two years. THHE told Bursa Malaysia that the ban was due to “performance- related issues” pertaining to the execution of a contract awarded in January 2014 to THHE Fabricators Sdn Bhd (TFSB), a 70%-owned subsidiary, to build a topside for Petronas Carigali’s Kinabalu project offshore Sabah, East Malaysia.