KUALA LUMPUR: Bursa Malaysia Securities Bhd, the stock exchange operator, has commenced the delisting exercise against Perisai Petroleum Teknologi Bhd after it rejected the trouble oil and gas company’s financial regularisation plan.
Ina statement on Friday, Bursa Securities said the trading of shares in Perisai will be suspended with effect from Jan 22.
“Perisai will be de-listed on Feb 13 unless an appeal against the rejection of the regularisation plan and de-listing is submitted to Bursa Securities on or before Feb 10,” the exchange operator said.
Perisai was classified as a Practice Note 17 affected issuer in October 2016 after wholly owned Perisai Capital (L) Inc defaulted in payment of the principal and interest for S$125mil multi-currency medium-term notes.
The company submitted its regularisation plan to the exchange in August last year.