Perisai Petroleum facing delisting

Dateline 2019-01-15, The Edge:

The crash in crude oil prices in 2014 looks set to claim its first publicly listed victim, with Perisai Petroleum Teknologi Bhd headed for removal from Bursa Malaysia on Feb 13.

The former market darling last Friday failed to secure Bursa Securities’ approval for its regularisation plan and has received a notice from the regulator of its trading suspension starting Jan 22.

There is still hope for the company, in financial distress since October 2016, to appeal against the decision. It has until Feb 10 to do so.

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