Perisai Petroleum Teknologi files application to strike out winding-up petition

SINGAPORE - Perisai Capital - a unit of the troubled Kulua Lumpur-listed Malaysian oil and gas services provider Perisai Petroleum Teknologi - said the firm filed an application on Nov 25 to strike out a winding-up petition.

A private investor who sank $15 million into the doomed Singdollar bond issue of Perisai Petroleum Teknologi filed an application in October in the Kuala Lumpur High Court for the insolvent oil and gas firm to be wound up.

The aim is to recover some monies after Perisai defaulted on a $125 million bond maturing on Oct 3 .

Perisai Capital said a date, Dec 5, has been fixed to process the issue.