December 05, 2016 4:35 PM ET

Energy Equipment and Services

Company Overview of Perisai Petroleum Teknologi Bhd

Company Overview

Perisai Petroleum Teknologi Bhd, an investment holding company, provides upstream oil and gas services primarily in Malaysia. It operates through four segments: Offshore Drilling, Offshore Production, Offshore Construction, and Offshore Support. The company owns a fleet of oil and gas vessels and facilities supporting the exploration, development, and production of offshore oil and gas fields in Malaysia and internationally. Its assets comprises an offshore jack-up drilling rig; offshore support vessels, such as anchor handling tugs, anchor handling tug supply vessels, and crew boats; and a mobile offshore production unit, as well as floating production, storage, and offloading vessels. The ...

Plaza Sentral

Suite 3A-17

Level 17, Block 3A

Jalan Stesen Sentral 5

Kuala Lumpur,  50470



60 3 2278 1133


60 3 2278 1155

Key Executives for Perisai Petroleum Teknologi Bhd

Perisai Petroleum Teknologi Bhd does not have any Key Executives recorded.

Perisai Petroleum Teknologi Bhd Key Developments

Perisai Announces Event of Default for Payment of Principal and Interest of SGD 125,000,000 6.875% Notes Due 2016

Perisai Petroleum Teknologi Bhd announced that it and its wholly owned subsidiary, Perisai Capital, have both received a notice dated 10 October 2016 from the Trustee of the Notes notifying that an event of default for payment of principal and interest of the Notes has occurred. The Trustee notified that the event of default under Condition 9(a) of the Terms of the Notes has occurred as Perisai Capital has failed to pay the principal and interest due on the Notes on 3 October 2016 and such has continued for a period of 5 days. The Trustee further notified that it does not intend to take any further action to declare the Notes to be due and repayable unless directed by Noteholders in accordance with the Trust Deed and provided with satisfactory indemnification and/or security and/or prefunded against any liability they may incur, as provided for in the Terms of the Notes and Trust Deed. The Company and its subsidiaries are currently operating under adverse financial conditions. With the current market downturn, the Group's business has been negatively affected by market conditions in the oil & gas sector, including weak crude oil prices and slow economic growth. The offshore oil & gas industry has remained uncertain and volatile and as the market remains depressed in 2016, the Group continues to see challenging times as the demand for the Group's offshore assets and services continue to remain low. As a result Perisai Capital is not able to meet payment of the principal and interest in respect of the Notes due on 3 October 2016. As announced on 3 October 2016 the Company, together with its joint venture partner, Emas Offshore Limited had, on 30 September 2016 received an indicative offer of financing from a financial institution. Part of the amount from the indicative offer would be earmarked towards a mutually acceptable resolution with Perisai Capital's Noteholders with regards the Notes through the availability to the Perisai Group of a sum of approximately $20 million. The notes are SGD 125,000,000 6.875% notes due 2016 comprised in Series 001 issued by Perisai Capital (L) Inc. pursuant to its SGD 700,000,000 multicurrency medium term note programme Unconditionally and irrevocably guaranteed by Perisai Petroleum Teknologi Bhd.

Perisai Petroleum Teknologi Bhd(KLSE:PERISAI) dropped from S&P Global BMI Index

Perisai Petroleum Teknologi Bhd(KLSE:PERISAI) dropped from S&P Global BMI Index

Ezra In Talks To Sell Stake In Perisai

Ezra Holdings Limited (SGX:5DN) is in talks to sell its stake in Perisai Petroleum Teknologi Bhd (KLSE:PERISAI).

Recent Private Companies Transactions

December 16, 2015

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