Perak Corp denies mystery stock surge
Perak Corporation stated it has no information about any unannounced corporate action behind the recent sharp rise in its stock price. The company responded to a Bursa Malaysia query regarding unusual trading by stating that it had consulted with directors, major shareholders, and other relevant parties and found no new developments to explain the surge.
The PN17-listed firm noted it is in early talks with various parties about possible business ventures, but confirmed none have led to binding agreements. It also denied awareness of any rumors or reports that might account for the heightened trading activity. The company affirmed it continues to follow Bursa Malaysia’s disclosure rules.
Perak Corp shares jumped nearly fourfold in the past month, reaching 95 sen after closing at 23.5 sen on September 30. The company has held PN17 status since 2020 following the failure of its Movie Animation Park Studios project in Ipoh and a loan default. Its regularisation plan, submitted to Bursa Malaysia, remains under review.
