Perisai mum on new partners

KUALA LUMPUR: Oil and gas support services company Perisai Petroleum Teknologi Bhd is keeping mum on corporate developments pertaining to talks or the progress of a new major shareholder or shareholders in the company.
Managing director Nagendran Nadarajah said the company was open to negotiations with parties which were interested in taking a stake in it, so long as it would add value.
However, he did not want to identify the parties, if any, that the company was talking to or place a deadline for revealing the progress of negotiations.
"We're always discussing with potential new shareholders," he told reporters after the company's EGM on Monday.
He said any ongoing negotiations would depend on the right timing and whether it would benefit shareholders.
It was reported in a daily that new major shareholders were expected to emerge in Perisai Petroleum pending a major restructuring exercise.
The new shareholder might emerge via Perisai Petroleum's acquisition of oil and gas assets.
At the EGM, shareholders approved the sale of 55% stake in subsidiary Allied Marine & Equipment Sdn Bhd to Worldclass Inspiration Sdn Bhd for RM39.5mil.
Meanwhile, Nagendran said the company would be focusing on deepwater and marginal field developments via its SIRPS (self-installing, relocatable, production and storage) facility, which it was developing with the Atkins Group, a British-based engineering consultancy.