The Singapore Exchange (SGX) has issued trade with caution notices on HongKong Land and Jardine Matheson Holdings, its indirect shareholder.
This after both companies said Friday they were "not aware of any reasons that could possibly explain the trading in its securities."
SGX had issued queries regarding a substantial increase in Jardine Matheson's traded price by 5.42 per cent, and HongKong Land's traded price by 10.7 per cent earlier Friday morning.
HongKong Land, which closed $7.50 a share on Thursday, hit a high of $8.25 at 9.19 am on Friday. The stock is at $7.52, up 0.3 per cent, with 2.8 million shares traded as of 11.59 am. Jardine Matheson, which closed at US$62.70 yesterday, hit a high of US$66 a share at 9.33 am. The stock is at US$63.51 as at 11.59 am.
Mr Neil M McNamara of Jardine Matheson, in response to the two queries, said: "The company's policy in accordance with its London listing requirements is not to comment on market speculation or rumour, and this policy be maintained on a consistent basis.
"Under the London Listing Rules, should the company become aware of the leak of any price sensitive information, it must make a regulatory announcement as soon as possible. Any such announcement would also be released concurrently through SGXNet," Mr McNamara said.
Jardine Strategic is the direct major shareholder of HongKong Land, Dairy Farm International, Mandarin Oriental and Jardine Cycle & Carriage. Jardine Matheson is an indirect shareholder of these companies through Jardine Strategic.