Perisai on the ropes as major shareholder faces bankruptcy

ALL is not well yet for Perisai Petroleum Teknologi Bhd, as the Malaysia-based upstream oil and gas services provider is hit with a triple whammy, hampering its return to profitability.

First, it was the debilitating plunge of the global oil price. Then came the news about Perisai turning insolvent and classified under the Practice Note 17 (PN17) category.