KUALA LUMPUR: The warrants on PETRA PERDANA BHD [] surged in early trade on Monday, Nov 1 on the first day of trade.
At 9.14am, it was up 30 sen to 50.5 sen with 4.18 million units done. The shares, inched up 1.5 sen to 80.5 sen, off its early low of 78 sen.
The FBM KLCI rose 3.25 points to 1,508.91. Turnover was 117.14 million shares valued at RM65.98 million. There were 185 gainers, 74 losers and 129 stocks unchanged.
Malaysian Rating Corp Bhd placed its A+ rating on Petra Perdana's RM800 million dual currency revolving facility on MARCWatch Negative.
The rating action was triggered by the group's poor financial performance in the six months ended June 30, 2010.
During the period, Petra Perdana incurred pre-tax loss of RM30.7 million due to falling charter rates, lower capacity utilisation and decrease in contribution from its integrated brownfield services division.
'Due to its inability to secure adequate contracts, six of its 23 offshore support vessels are currently in lay-up and are awaiting disposal,' MARC said.
At 9.14am, it was up 30 sen to 50.5 sen with 4.18 million units done. The shares, inched up 1.5 sen to 80.5 sen, off its early low of 78 sen.
The FBM KLCI rose 3.25 points to 1,508.91. Turnover was 117.14 million shares valued at RM65.98 million. There were 185 gainers, 74 losers and 129 stocks unchanged.
Malaysian Rating Corp Bhd placed its A+ rating on Petra Perdana's RM800 million dual currency revolving facility on MARCWatch Negative.
The rating action was triggered by the group's poor financial performance in the six months ended June 30, 2010.
During the period, Petra Perdana incurred pre-tax loss of RM30.7 million due to falling charter rates, lower capacity utilisation and decrease in contribution from its integrated brownfield services division.
'Due to its inability to secure adequate contracts, six of its 23 offshore support vessels are currently in lay-up and are awaiting disposal,' MARC said.
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