PERISAI (0047) : Perisai unit bags US$23m charter extension for five vessels, shares still down
KUALA LUMPUR (Nov 20): Perisai Petroleum Bhd’s 51 per cent owned subsidiary, Intan Offshore Sdn Bhd, has been granted a two-year extension on a vessel charter contract.
However, the positive news fails to lift Perisai’s share price, which has been on a decline since May. The stock closed at 69.5 sen today, down one sen. Its share price has lost 56 per cent since the start of the year.
In an announcement to Bursa Malaysia, Perisai said Intan Offshore obtained a two-year extension charter for five of its vessels from Emas Offshore Pte Ltd.
The charter extension is worth about US$23 million (RM77.43 million).
The original charter for the vessels was for three years from Sept 1, 2012, expiring on Aug 31, 2015. With the extension, the charter will now expire on Aug 31, 2017.
“The extension charters will have no effect on the issued and paid-up capital of the company and is expected to contribute positively to Perisai group's earnings and net tangible assets for the financial year ending Dec 31, 2014, and the financial periods thereafter in the duration of the extension charters,” said Perisai.
http://www.theedgemarkets.com/en/node/170803
KUALA LUMPUR (Nov 20): Perisai Petroleum Bhd’s 51 per cent owned subsidiary, Intan Offshore Sdn Bhd, has been granted a two-year extension on a vessel charter contract.
However, the positive news fails to lift Perisai’s share price, which has been on a decline since May. The stock closed at 69.5 sen today, down one sen. Its share price has lost 56 per cent since the start of the year.
In an announcement to Bursa Malaysia, Perisai said Intan Offshore obtained a two-year extension charter for five of its vessels from Emas Offshore Pte Ltd.
The charter extension is worth about US$23 million (RM77.43 million).
The original charter for the vessels was for three years from Sept 1, 2012, expiring on Aug 31, 2015. With the extension, the charter will now expire on Aug 31, 2017.
“The extension charters will have no effect on the issued and paid-up capital of the company and is expected to contribute positively to Perisai group's earnings and net tangible assets for the financial year ending Dec 31, 2014, and the financial periods thereafter in the duration of the extension charters,” said Perisai.
http://www.theedgemarkets.com/en/node/170803
