KUALA LUMPUR, July 10 Malaysia's Hibiscus
Petroleum Bhd, an oil and gas production company, has
hired UBS AG and Maybank Investment Bank Bhd
to explore fundraising opportunities locally and abroad.
The company is seeking funds to meet future expansion plans,
it said in an announcement to the stock exchange on Thursday.
The announcement was made the same day that Hibiscus
Petroleum called off plans for a private placement to raise 500
million ringgit ($157.2 million), which was first announced in
Oct 2013 and had Hong Leong Investment Bank as an advisor.
Hibiscus Petroleum operates small to medium sized oil and
gas fields in the Middle East, Norway, Southeast Asia and
($1 = 3.1800 Malaysian Ringgits)
(Reporting By Al-Zaquan Amer Hamzah; Editing By Miral Fahmy)