Perisai Petroleum served with winding up petition

PETALING JAYA: Perisai Petroleum Teknologi Bhd has been served with a winding up petition on its failure to make payment for its bonds.
The claimant Ravi Murarka is a holder of S$15 million out of the S$125 million 6.875% fixed rate bonds, which Perisai had defaulted on. The due date of the bonds was on October 3.
Perisai said the presentation of the petition itself will not have any significant financial or operational impact on the group and it has sought preliminary legal advice and intends to challenge and oppose the petition.
In a separate announcement, Perisai said its 51%-owned subsidiary SJR Marine (L) Ltd yesterday received a notice dated 27 October 2016 from the solicitors for OCBC Al-Amin Bank Bhd on the default of a financing facility granted to SJR.
SJR is required to make a repayment of the sum of US$20.54 million (RM85.3 million) within 14 days from the notice date.
Perisai said SJR is seeking legal advice on the matter and will make the necessary announcements as and when necessary.