Resources Prima shares crashed, drawing a query from Singapore Exchange

SINGAPORE - Shares of Indonesian mine owner Resources Prima Group crashed as much as 47.5 per cent on Thursday, prompting the Singapore Exchange (SGX) to ask the firm to explain any possible reasons for the plunge.

The bourse queried the company at around 3pm on Thursday, pointing to "unusual price movements in your shares recently and unusual volume movements in your shares today".

From its closing price of 18.3 cents on Wednesday, the stock fell to as low as 9.6 cents - 47.5 per cent down - before recovering slightly. It ended at 10.1 cents, down 8.2 cents or 44.8 per cent.

It was the day's most active counter on turnover of 105.7 million units, a sharp jump from the 18.2 million shares that changed hands on Wednesday.

Resources Prima, which listed on the Catalist in November last year via a reverse takeover of Sky One Holdings, could not be contacted.

The telephone number it has provided in its recent SGX filings turned out to belong to a corporate secretary firm that did not know how to reach Resources Prima.

Its sponsor, Mr Alex Tan, who is chief executive officer of Canaccord Genuity Singapore, also could not be reached.