Perisai shares rise on contract termination news

Shares in Perisai rose by 11% to 5 sen yesterday, following an announcement by PPL Shipyard Pte Ltd that it had terminated contract to build the two jack-up drilling rigs worth US$419.50mil (RM1.79bil)

PETALING JAYA: Shares in oil and gas company, Perisai Petroleum Technology Bhd saw improved sentiment following news that it would not take delivery of two jack-up rigs from a unit of Singapore-listed Sembcorp Marine Ltd.

Shares in Perisai rose by 11% to 5 sen yesterday, following an announcement by PPL Shipyard Pte Ltd that it had terminated contract to build the two jack-up drilling rigs worth US$419.50mil (RM1.79bil).