The financially troubled company has been given a six-month extension, up to Nov 30, from Bursa Malaysia Securities Bhd to submit its regularisation plan.

It said today’s status update is part of the listing requirements of the Main Market of Bursa Malaysia.

“The company, together with its advisors, will continue to actively develop the plan to ensure that it is sufficiently robust to address the company’s business and financial conditions.

‘The oil and gas services company will make the necessary announcements should there be any further material developments on the above matter,” it said in a stock exchange filing.

As at 5pm, Sapura Energy’s share price was up by 0.5 sen or 12.50% at 4.5 sen, giving the company a market capitalisation of RM827 million.