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Tuesday, November 8, 2011

Karambunai cautions on price surge (BT)

Karambunai Corp, a Malaysian resort operator, said it can see no reason for a surge in its share price and trading last week.

The company said it was likely to have been “pure speculative activity” and cautioned investors to trade based on fundamentals, according to a Kuala Lumpur exchange filing today.

Karambunai rose 2.4 percent to 21 sen at 10:15 a.m. in Kuala Lumpur trading, set for its highest close since May 25. -- Bloomberg

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