NationGate Denies Link To Alleged NVIDIA Chip Movement

KUALA LUMPUR, March 4 (Bernama) -- Nationgate Holdings Bhd today denied any involvement in an ongoing fraud case in Singapore related to the alleged movement of Nvidia chips.  

In a filing to Bursa Malaysia, the company said the matter concerned an Nvidia Cloud Partner (NCP) that is 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 (UMA) in its shares yesterday, Nationgate said it was unaware of any possible explanation for the trading activity.  

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

Yesterday, Bursa Malaysia Securities issued a UMA query to Nationgate following a sharp fall in its share price.  

At 5pm Monday, the stock hit limit down, having plunged 55 sen, or 29.73 per cent, to RM1.30, with 48.85 million shares traded.

-- BERNAMA