Karambunai Corp, a Malaysian resort operator, said it can see no reason for a surge in its share price and trading last week.
The company said it was likely to have been “pure speculative activity” and cautioned investors to trade based on fundamentals, according to a Kuala Lumpur exchange filing today.
The stock rose 41 percent on Nov. 2 and 7.9 percent on Nov. 4 to end the week at RM20.5.
The company said it was likely to have been “pure speculative activity” and cautioned investors to trade based on fundamentals, according to a Kuala Lumpur exchange filing today.
The stock rose 41 percent on Nov. 2 and 7.9 percent on Nov. 4 to end the week at RM20.5.
