In a filing to Bursa Malaysia, the company said the matter concerned a Nvidia cloud partner that was not connected to the group.

“We remain committed to transparency and compliance with all relevant regulations and will continue to monitor the situation closely,” it said.

Responding to Bursa Malaysia’s query on unusual market activity in its shares yesterday, NationGate said it was unaware of any possible explanation for the trading activity.

It said there were no corporate developments involving the company or its subsidiaries that had not been previously announced, whether at the negotiation or discussion stage, that could account for the movement.

Bursa Malaysia Securities issued an unusual market activity query to NationGate yesterday following a sharp fall in its share price.

As of 5pm on Monday, the stock had plunged 55 sen, or 29.73%, to RM1.30 with 48.85 million shares traded.