KUALA LUMPUR, Oct 30 — Perak Corporation today said it has no knowledge of any undisclosed corporate move that could explain the sharp rally in its share price over the past month.

Responding to Bursa Malaysia’s “unusual market activity” query, the public-listed company said it had checked with its directors, major shareholders and other relevant parties before concluding there was no new corporate development to account for the surge.

“The board is unaware of any material corporate development relating to the group’s business and affairs that has not been previously announced that may account for the unusual market activity,” the Practice Note 17 (PN17) company said in a filing.

A PN17 company is one that has fallen into financial distress or failed to meet Bursa Malaysia’s financial requirements, and must submit and execute a regularisation plan to avoid being delisted.

Perak Corp said it is “continuously in discussion with various parties on potential ventures and business opportunities,” but stressed that “none of these preliminary discussions have resulted in any definitive agreement.”

It also confirmed it was “not aware of any rumour or report concerning the business and affairs of the company and its subsidiaries that may account for the trading activity.”

The Perak state-linked company added that it remains in full compliance with Bursa’s disclosure rules.

Perak Corp’s shares have soared nearly fourfold in the past month, touching 95 sen earlier today after closing at 23.5 sen on September 30.

The counter has been under the PN17 category since 2020 after the collapse of its Movie Animation Park Studios theme park in Ipoh and a loan default.

Perak Corp, which is majority-owned by Perbadanan Kemajuan Negeri Perak, said its proposed regularisation plan submitted to Bursa is still pending approval.