December 16, 2017 10:11 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 in Malaysia and Singapore. The company operates through three segments: Drilling Units, Production Units, and Marine Vessels. It offers operation and maintenance services for oil and gas properties; and provision of vessels, barges, and equipment on vessels charter services. The company owns a fleet of oil and gas vessels and facilities supporting the exploration, development, and production of offshore oil and gas fields. Its assets comprise an offshore jack-up drilling rig; derrick lay barges; offshore support vessels, such as anchor handling tugs, anchor handling tug supply vessels, and...

Plaza Sentral

Suite 3A-17

Level 17, Block 3A

Jalan Stesen Sentral 5

Kuala Lumpur,  50470

Malaysia

Phone:

60 3 2278 1133

Fax:

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 Petroleum Teknologi Bhd Reports Unaudited Consolidated Earnings Results for the First Quarter Ended September 30, 2017

Perisai Petroleum Teknologi Bhd reported unaudited consolidated earnings results for the first quarter ended September 30, 2017. For the quarter, the company reported revenue of MYR 39,891,000 against MYR 38,914,000 a year ago. Loss before tax was MYR 44,387,000 against MYR 300,613,000 a year ago. Loss attributable to owners of the company was MYR 42,169,000 or 3.35 sen per diluted share against MYR 293,303,000 or 23.80 sen per diluted share a year ago. Net cash generated from operating activities was MYR 17,675,000 against MYR 14,331,000 a year ago. Purchase of plant and equipment was MYR 1,000 against MYR 399,000 a year ago.

Perisai Petroleum Teknologi Bhd Announces Auditor Changes

The board of directors of Perisai Petroleum Teknologi Bhd announced that the shareholders of the company have at the fourteenth Annual General Meeting held on 23 November 2017, approved the resolution on the appointment of Messrs Baker Tilly Monteiro Heng as the auditors of the company in place of the retiring Auditors, Messrs Baker Tilly AC. The reason for the change of external auditors of the company is due to the internal restructuring of the audit firm.

Bursa Securities Grants Perisai Petroleum Teknologi Bhd’s Application For An Extension Of Time To Comply With Paragraph 8.04(3) And Practice Note 17 Of The Main Market Listing Requirements

Perisai Petroleum Teknologi Bhd referred (PPTB) to the announcement dated 11 October 2017 (“Announcement”) in relation to the application for an extension of time to submit its regularisation plan (“Application”). Further to the Announcement, on behalf of the Board of Directors of PPTB (“Board”), SJ Securities Sdn Bhd announced that after due consideration of all facts and circumstances of the Application, Bursa Securities has, vide its letter dated 9 November 2017, granted the Company an extension of time of up to 11 February 2018 to submit a regularisation plan to the regulatory authorities (“Extension of Time”). The Extension of Time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the securities of PPTB and to de-list the Company in the event: (i) PPTB fails to submit a regularisation plan to the regulatory authorities on or before 11 February 2018; (ii) PPTB fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; and (iii) PPTB fails to implement its regularisation plan within the time frame or extended time frames stipulated by any of the regulatory authorities. Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of PPTB on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company's right to appeal against the delisting.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 6, 2017
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Merger/Acquisition
December 30, 2016
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