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Perisai's insolvency adds to gloom for M'sian oil & gas stocks

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Published Thu, Oct 13, 2016 · 09:50 PM

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Kuala Lumpur

MOST oil and gas stocks finished in the red on Thursday, on fears they would follow on the heels of Perisai Petroleum Teknologi Bhd which declared itself insolvent on Wednesday after failing to meet its bond obligations.

Perisai slumped a further 7 per cent to seven sen after the company triggered Bursa Malaysia's Practice Note 17 when it could not provide a solvency declaration. It has 12 months to regularise its position or face delisting.

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