When switching form WP FLR to FLR(HSMP), what happens when a FLR(HSMP) get rejected, will they loose their existing wp FLR?

I have 5 years business and commercial work permit, I have just completed 3 years, I would like to apply for HSMP, and FLR(HSMP). is there any chance for FLR(HSMP) to get rejected, and how will this affect my current workpermit . will it get revoked too? please help, I need to make the application b...