Perisai active, tumbles ahead of trading suspension

-A +A

KUALA LUMPUR (Jan 14): Perisai Petroleum Teknologi Bhd tumbled 83.33% this morning ahead of its suspension from trading effective Jan 22 after the stock exchange rejected the group’s proposed regularisation plan.

At 9.10am, Perisai fell 2.5 sen to 0.5 sen with 29.16 million shares done.

Unless Perisai appeals against the exchange’s decision before Feb 10, upon its delisting, the company will continue to exist and may continue its operations as an unlisted entity.

The company was first classified as a PN17 company on Oct 2, 2016 after it defaulted in payment of the principal and interest for S$125 million multi-currency medium term notes.