Quick take: Barakah Offshore gains 11% in early trade
KUALA LUMPUR: Shares of Barakah Offshore Petroleum Bhd 
, which has been facing selling pressure, rose 11% in early trade Monday.
The stock rose 11.11%, or 0.5 sen to five sen with 12.4 million shares done.
Last month, Barakah has has become a Practice Note 17 (PN17) company after it failed to make installment payments to Export-Import Bank of Malaysia Bhd (Exim Bank) and was unable to provide a solvency declaration to Bursa Malaysia Securities Bhd.
Barakah Offshore’s wholly owned subsidiary Kota Laksamana 101 Ltd had on May 17, 2019, received a notice of demand for the outstanding installment payments of US$2.65mil (RM11.08mil).
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