KUALA LUMPUR: BARAKAH OFFSHORE PETROLEUM BHD is in talks with two potential investors, as part of the group’s efforts to put in place its regularisation plan.
Speaking after the AGM on Monday, Barakah group president and CEO Nik Hamdan Daud said: “We hope to conclude our regularisation plan by May 2020.”
He one of the potential investor was a local company and the other a foreign firm.
In May this year, Barakah Offshore was classified as a Practice Note 17 affected issuer by Bursa Malaysia after it received a notice of demand from Export-Import Bank of Malaysia for defaulting on its repayments.
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