Malaysian offshore contractor Perisai Petroleum is looking forward to "a new beginning" after agreements were reached around the restructuring of its debts.
The company has been in a restructuring period for at least a year, and recently disclosed a detailed regularisation plan which it hopes will be completed by the fourth quarter this year.
Part of that was a debt restructuring exercise to address its financial obligations with its lenders and creditors, which the creditors approved on 11 June.
