PERISAI PETROLEUM NOW IN PN17 STATUS

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Perisai Petroleum Te­knologi Bhd has slipped into Prac­tice Note 17 (PN17) status af­ter it de­faulted on its bond pay­ments last week. In a fil­ing with the stock ex­change, the oil and gas ser­vices provider said it needs to sub­mit a reg­u­lar­i­sa­tion plan within the next 12 months. In the event Perisai fails to com­ply with the obli­ga­tions to reg­u­larise its con­di­tion, it will be sus­pended from trad­ing and delist­ing pro­ce­dures will be taken af­ter that.

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