Kuala Lumpur: NationGate Holdings Bhd’s shares experienced a significant increase of 20.7 percent in early trading today, following a steep decline the previous day that led Bursa Malaysia Securities Bhd to issue an unusual market activity query to the company.

According to BERNAMA News Agency, at the close of trading yesterday, NationGate’s shares fell by 55 sen to RM1.30, with a total of 48.85 million shares changing hands. This morning, trading in NationGate-related securities was temporarily halted from 9 am to 10 am. Upon resumption, within just 30 minutes, the share price rose by 27 sen to RM1.57, with a trading volume of 77.45 million shares.

NationGate, known for providing electronics manufacturing services, has been delivering solutions since its inception in 2010. In a filing with Bursa Malaysia today, the company addressed concerns regarding its potential involvement in a fraud case in Singapore, which allegedly involves the movement of Nvidia chips. NationGate clarified that the case pertains to an Nvidia Cloud Partner (NCP) that has no affiliation with their group.

The company emphasized its dedication to transparency and adherence to regulations, assuring stakeholders that it will keep a close watch on the situation.