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Perisai unit's landlord demands RM2.75mil payment, shares fall 12%

KUALA LUMPUR: Shares of Perisai Petroleum Teknologi Bhd slipped 12% in early trade Wednesday after its unit’s landlord demanded a RM2.75mil payment for a breach of agreement.

Top foreign and local stories at 4pm

Brent crude was 0.50% lower to US$55.72 per barrel at 3.48pm. Forex Ringgit up 0.24% to 4.2270 versus the US dollar at 3.58pm. Top foreign stories India seeks to raise up to US$1.7b from state-run reinsurer GIC Re’s IPO: State-run reinsurer General Insurance Corp of India (GIC Re)’s initial public offering of shares next week seeks to raise as much 113.7 billion rupees (US$1.7 billion) in what will be India’s second-biggest IPO. (0-1)

Breakfast briefing: Friday, August 18

MarketWatch: US stocks sold off on Thursday, with the S&P 500 recording its biggest daily percentage drop in three months as escalating worries about the Trump administration's ability to push through its economic agenda rattled investors. The DJIA ended down 274.14 points, or 1.24%, to 21,750.73, the S&P 500 lost 38.1 points, or 1.54%, to 2,430.01 and the Nasdaq dropped 123.20 points, or 1.94%, to 6,221.

Investor sentiment in debt market could turn more cautious in H2

UOB Asset Management (M) Bhd CEO Lim Suet Ling(pic) told StarBiz that investors are turning more cautious on the local debt market in the second half of this year pressured by rising global rates.

Another Malaysian oil and gas casualty

PETALING JAYA: Nam Cheong Group Bhd is the latest company that is unable to service its debts due to the prolonged downturn in the oil and gas (O&G) industry.

Bursa Malaysia remains positive at mid-day

2017-05-08 themalaymailonline
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,764.90, up 2.16 points, against last Friday's close of 1,762.74. — Reuters picKUALA LUMPUR, May 8 — Bursa Malaysia remained in positive territory at mid-day prompted by continuous buying momentum in selected heavyweights led by Maybank.

[Opinion] Reimagineering Malaysia’s Oil & Gas Industry

2017-04-16 oilvoice
Conservative estimates suggest that in the wake of oil prices crashing in late 2014, the Malaysian oil and gas services and equipment (OGSE) sector contracted by at least 11%. Analysis of overall financials for the OGSE sector by the Malaysian Petroleum Resource Corp, an agency under the Prime Minister's Department, reveal that revenue for 2015 fell by 11%, while profits contracted by a severe 52.3%.

Perisai on the ropes as major shareholder faces bankruptcy

ALL is not well yet for Perisai Petroleum Teknologi Bhd, as the Malaysia-based upstream oil and gas services provider is hit with a triple whammy, hampering its return to profitability.

IWC, Alam Maritim, Enra, LBS Bina, CIMB Group, GHL Systems, AmBank, Engtex and Wintoni

2017-03-08 theedgemarkets
KUALA LUMPUR (March 8): Based on corporate announcements and news flow today, the companies in focus on Thursday (March 9) may include the following: Iskandar Waterfront City, Alam Maritim, Enra, LBS Bina, CIMB Group, GHL Systems, AmBank, Engtex and Wintoni.

Perisai lays out new scheme to settle debts

2017-03-08 theedgemarkets
THE Malaysian oil services firm that defaulted on US$89.3 million in bonds last October is trying again to settle its debts with bond holders.

Let This Be a Lesson, Singapore - Bloomberg Gadfly

2017-03-01 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

KLCI struggles to hold above 1,700 level as selling persists

2017-02-27 theedgemarkets
KUALA LUMPUR (Feb 27): The FBM KLCI struggled to to remain above the 1,700-point level at the midday break today as sellling persisted on Bursa Malaysia, despite the regional markets reversing earlier losses.

Perisai active, up 21% this morning on 2QFY17 profit

2017-02-27 theedgemarkets
KUALA LUMPUR (Feb 27): Perisai Petroleum Teknologi Bhd’s shares were up as much as 1.5 sen or 21.4% this morning to 8.5 sen, as the Practice Note 17 company returned to the black in its second financial quarter ended Dec 31, 2016 (2QFY17).

KLCI claws back above 1,700-level

2017-02-27 theedgemarkets
KUALA LUMPUR (Feb 27): The FBM KLCI clawed back to above the 1,700-point level at mid-morning today,lifted by select blue chips.

KLCI likely to remain below 1,700-level, support at 1,690 - 1,695

2017-02-26 theedgemarkets
KUALA LUMPUR (Feb 27): The FBM KLCI is expected to remain below the crucial 1,700-point level today with support seen beetwen 1,690 – 1,695.