The heirs of the purported Sulu sultanate, who are claiming US$14.92 billion (RM62.59 billion) from Malaysia - have seized two Luxembourg-incorporated subsidiaries of Malaysian oil giant Petronas.

According to a report by London-based Financial Times, lawyers of the claimants have seized Petronas Azerbaijan (Shah Deniz) and Petronas South Caucasus, reportedly worth US$2 billion.

The lawyers said bailiffs in Luxembourg seized the holding companies on behalf of their clients on Monday.

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