KrisEnergy shares tumble on debt covenant stress

Singapore

SHARES in upstream oil and gas firm KrisEnergy, majority-owned by Keppel Corporation, tumbled on Tuesday, after it warned of possible stress on debt covenants and said that it was exploring several options to raise funds.

The counter, which opened at 11.8 Singapore cents, fell to as low as 10.2 cents before paring some losses to close the day at 10.7 cents, still down 11.6 per cent from the previous day.