Perisai positive despite Ezra bankruptcy
BY F SAAD | 14 Apr 2017 00:30
Perisai Petroleum Teknologi Bhd’s luck has turned from bad to worse lately, after the parent company of its largest shareholder filed for bankruptcy in the US. The oil and gas services company, however, remains hopeful of an eventual recovery.

Perisai has come up with a debt restructuring plan it hopes will appease shareholders and creditors.

“We have not, at this present time, experienced any adverse consequences from Ezra Group’s bankruptcy filing. We shall obviously monitor developments as they arise. Perisai considers the interests of all stakeholders, including shareholders, in any strategic decisions to be advanced by the company.

“Perisai, together with its advisers, has evolved a debt restructuring proposal in consultation with all stakeholders, including its financial creditors. This is expected to address Perisai’s current insolvent position and its PN17 status,” says a Perisai spokesperson in an email response to FocusM.