KUALA LUMPUR (Dec 14): Perdana Petroleum Bhd shares fell 2.22% this morning after the company decided not to proceed with a private placement to raise up to RM109 million, which was first announced in May 2017.

At 9.12am, Perdana fell 0.5 sen to 22 sen with 100,200 shares traded.

It decided to scrap the plan after taking into consideration its on-going corporate debt restructuring exercise under Bank Negara Malaysia, as well as the prevailing weak market conditions of the past six months.