PERISAI PETROLEUM NOW IN PN17 STATUS

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.