Trading stock: Affin Bank, Country Heights, Perak Corp, Yong Tai, PLS Plantations and Infomina

KUALA LUMPUR: Companies with recent coporate news flow could be in focus on Friday including Affin Bank, Country Heights, Perak Corp, Yong Tai, PLS Plantations and Infomina, said Apex Research.

Affin Bank Bhd’s largest shareholder Lembaga Tabung Angkatan Tentera (LTAT) has sold a 4.95% stake in the bank to State Financial Secretary Sarawak for RM221.74 million.

Country Heights Holdings Bhd's founder and largest shareholder Tan Sri Lee Kim Yew claimed that he did not file for bankruptcy, and is still far from insolvency.

Perak Corp Bhd has been granted a further six-month extension until Aug 9 by Bursa to submit its PN17 regularisation plan.

Yong Tai Bhd has scrapped the mining agreement to undertake a gold mining project on a 100ha site in Bukit Kenderak in Pahang.

PLS Plantations Bhd has aborted its plan to invest RM50 million into a 51:49 JV with Landasan Erajaya Sdn Bhd to undertake cash crop plantation activities in Pahang.

Infomina Bhd posted a net profit of RM22.72 million and revenue of RM109.73 million for its 3QFY23.

Meanwhile, Apex said the FBM KLCI could climb towarads the resistance of 1,450 points folowing the surge on Wall Street.

The US market rallied overnight after higher jobless claims and lower March producer price index could prompt the Federal Reserve to pause rate hikes.

Earlier, European stocks advanced after US inflation data while the UK posted a flat GDP in February which missed economists’ consensus.

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