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Trading ideas: My EG, Dutch Lady, EcoWorld, VS Industry, Perak Corp
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KUALA LUMPUR (Dec 18): Perak Corp Bhd s share price soared as high as 61 sen in morning trade today, up 17.5 sen or 40.23% from its last closing price of 43.5 sen, following its announcement of a debt restructuring plan.
At 9.34am, the stock had pared some gains to settle at 53.5 sen, still up by 10 sen or 22.99%. This marked its highest since May 6, 2019, when the counter closed at 55 sen.
Some 1.93 million shares changed hands, over 50 times its 200-day average trading volume of 35,943.5 shares.
Perak Corp s gains landed it on the second place of Bursa s list of top gainers so far today.
Yesterday, the group announced a debt restructuring with its creditors involving cash settlements worth over RM220 million, issuance of its shares worth over RM30 million, a proposed debt waiver amounting to RM544.55 million, and future settlements by the group s turnaround plan in the ordinary course of business.
KUALA LUMPUR (Dec 17): Perak Corp Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia over the sharp rise in its share price and volume today.
As at 3.11pm, its share price surged 76.6% or 18 sen to 41.5 sen, with a market value of RM41.5 million. It saw some 2.8 million shares traded making it the sixth top gainer.
The counter surged 320% from a low of 10 sen on March 25, April 2 and April 8.
Perak Corp is engaged in property and investment holding, real property development and provision of management services.
In a filing, Bursa requested that Perak Corp disclose any investment decision, corporate development, rumour or report concerning the business and affairs of the group, and any other possible reasons, for the sharp increase in its share price and volume traded.
Perak Corp sells land, proposes scheme to address debts
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9:35 AM MYT
KUALA LUMPUR: Investors took some money off the table early Thursday following the rebound with consumer stocks and glove makers among the biggest decliners.
At 9.15am, the FBM KLCI was down 8.22 points or 0.49% to 1,673.19. Turnover was 1.05 billion shares valued at RM393mil. The broader market was weaker with decliners beating advancers 402 to 258 and 413 counters unchanged.
At Bursa on Wednesday, foreign funds turned net buyers at RM142.7mil and local retail investors at RM26.1mil but local institutions were net sellers at RM168.9mil.
Bloomberg reported Asian stocks were mixed in early trading on Thursday as investors mulled speculation US lawmakers are edging closer to a stimulus deal. Japanese and South Korean shares dipped, while Australian stocks rose
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