Perisai sells diving system for RM11m

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Perisai sells diving system for RM11m

Business & Market 2010

Written by The Edge Financial Daily

Tuesday, 02 March 2010 23:39

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KUALA LUMPUR: Perisai Petroleum Teknologi Bhd is disposing of a nine-man portable saturation diving system for US$3.3 million (RM11.15 million) cash.

In a statement today, Perisai said its subsidiary Perisai (L) Inc had on Monday signed a memorandum of understanding with Olap International Ltd for the transaction of the system, which is known as PLI-SAT-01.

It said the disposal was in line with the group's objective of focusing on its marginal field and deepwater business. Perisai added that it would result in a net loss of about RM713,461 and the proceeds would be used to reduce its outstanding borrowings and for working capital.

#Today's Diary* What to expect on Mar 3, 2010< Prev		Next >AirAsia 'Big Sale' from as low as RM9

Last Updated on Tuesday, 02 March 2010 23:40

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