KUALA LUMPUR (Oct 7): Perisai Petroleum Teknologi Bhd rose as much as one sen or 13% to 8.5 sen on crude oil price gains, and after the company said the US$20 million (about RM83 million) indicative financing offer to the group would be made soon. Perisai said this after the company defaulted on its S$125 million (about RM378 million) bond, which has a 6.875% coupon rate. Perisai said the group and its joint-venture partner, Emas Offshore Ltd, received the financing offer from a financial institution. At 11:10 a.m. today, Perisai shares pared gains to trade unchanged at 7.5 sen, with some 35 million shares transacted. Perisai shares could have also taken the cue from overnight crude oil price gains.

Source: The Edge Markets October 07, 2016 03:45 UTC