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Perak Corp soars to 19-month high on debt restructuring news


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. ....

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Latitude Tree, Metronic, My EG, Dutch Lady, Affin Bank, Eco World, Eco World International, VS Industry, Scientex, LKL International and Perak Corp


KUALA LUMPUR (Dec 17): Based on corporate announcements and news flow today, companies that may be in focus on Friday (Dec 18) include: Latitude Tree Holdings Bhd, Metronic Global Bhd, My EG Services Bhd, Dutch Lady Milk Industries Bhd, Affin Bank Bhd, Eco World Development Group Bhd, Eco World International Bhd, VS Industry Bhd, Scientex Bhd, LKL International Bhd and Perak Corp Bhd.
Latitude Tree Holdings Bhd has proposed a one-for-one bonus issue of up to 97.16 million new shares plus an employees’ share scheme (ESS) of up to 10% of the total issued share capital of the company.
The furniture maker said the actual number of bonus shares to be issued will depend on the total issued shares on the entitlement date, which will be determined and announced at a later date upon receipt of all relevant approvals. It said the ESS is for eligible directors and employees of the company and its subsidiaries. ....

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