Like that also can. This is what we called " Red Worst Chip" or " Lan Chou Ku".
Written by Joseph Chin
Wednesday, 23 September 2009 09:48
KUALA LUMPUR: OilCorp shares fell in early trade on Sept 23 after it announced that it had failed to meet its interest payment of RM1.64 million due and payable on Sept 17.
At 9.32am, it was down five sen to 26.5 sen. There were 5.31 million shares done.
The FBM KLCI rose 7.75 point to 1,228.95. Turnover was 110.32 million shares valued at RM122.41 million.
On Sept 17, the company said it had failed to repay the interest on the facility agreement dated Sept 9, 2005 between EON Bank Bhd, CAPONE Bhd and Oil Corp.
The company said it did not have sufficient funds to settle the interest payment due as the receipt of certain large receivables had been delayed from iys clients.
On Sept 15, it had written to Malaysian Trustees Bhd to seek an extension of up to one month from the interest payment date to remedy this matter
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