KUALA LUMPUR, May 29 (Bernama) -- Petroliam Nasional Bhd (Petronas) has denied speculation over a merger between its indirect unit Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) and Sapura Energy Bhd. In a statement today, the national oil firm said 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. According to news reports earlier this month, a merger between debt-laden Sapura Energy and MHB could well be on the cards if preliminary discussions on the proposal bear fruit.

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