Malaysian oil service provider Perisai in talks with bondholders

KUALA LUMPUR, Aug 24 (Reuters) - Malaysian oil and gas service provider Perisai Petroleum Teknologi on Wednesday said it has started talks with holders of its S$125 million ($92.36 million) bond maturing on Oct. 3.

Perisai said its interest cover ratio had fallen below the required minimum for the quarter ended June 30, adding that it was taking steps to meet the covenant.

"Continuing depressed oil prices has caused uncertainty on the outlook for the demand for the oil and gas assets in the short to medium terms," Perisai said in a statement to the local bourse.

In a research note on Monday, Kenanga Research said Perisai may have to request to defer repayment as it did not have enough time to restructure its debt.

Perisai reported a loss of 2.7 million ringgit ($669,145) for the quarter which ended on June 30, compared with a profit of 1.6 million ringgit a year earlier.

Thomson Reuters' IFR reported this month that Perisai could face challenges in meeting its debt obligations in the Singapore dollar market due to the downturn in the oil industry.

Singapore's Swiber Holdings, which filed for liquidation last month, defaulted on Singapore dollar-denominated bonds.

($1 = 1.3534 Singapore dollars)

($1 = 4.0350 ringgit) (Reporting by Liz Lee; Editing by A. Ananthalakshmi and)