PSCI UP; PN17 Exit Hopes, Turnaround Play

PSC Industries UP on hopes company may soon exit PN17, a classification for financially troubled entities; some punters are buying the share because they feel that the company has strong turnaround potential; this, after company last week signed underwriting pact for rights issue which will raise MYR69.9 million for working capital; the rights issue represents the final phase of PSC's regularization plan which also includes capital reduction, debt settlement. Company says plan due to completed in 3Q, will also see company's exit from PN17.