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Perisai Petroleum: Chief to exit, selling 19% stake
Perisai Petroleum Teknologi Bhd managing director and substantial shareholder Nagendran Nadarajah has agreed to sell his entire 19% stake in the company to Ezra Holdings Ltd. The deal is expected to be completed in the first week of May but at what price the stake was sold was not revealed. Perisai’s main assets now is a derrick lay barge and two marine support vessels after it recently sold off its diving system and acquired two second hand jack up rigs as the company sought to move into the upstream exploration business. (Malaysian Reserve)