Petronas says will defend assets against Sulu claimants

PETROLIAM Nasional Bhd (Petronas) maintains that the action taken by the Sulu claimants against its two subsidiaries in Luxembourg (Luxcos) is baseless and will continue to defend its legal position.

“All efforts are focused on the validation proceedings where the court will determine the merits of the claims of which the Luxcos have a meritorious defence,” it said in a statement.