SGX queries SMRT Corp and Osim International on 'unusual price movements'

The SGX has warned investors to "trade with caution" on the group's shares.
The SGX has warned investors to "trade with caution" on the group's shares.PHOTO: AFP

SINGAPORE - The Singapore Exchange (SGX) has asked two mainboard-listed companies for an explanation over "unusual price movements" in their counters on Thursday.

The bourse operator issued lifestyle Osim International a query just after noon, before putting out a notice for rail operator SMRT Corporation an hour later.

Osim, which closed at S$1.575 on Wednesday, had jumped as much as 5.7 per cent to hit S$1.59 on Thursday afternoon. It was up 4.7 per cent to S$1.57 as at 3.20pm.

The group responded in a filing to the SGX that it is not aware of any reasons that could account for the upswing in its share price.

"We are not aware of any information not previously announced concerning us, our subsidiaries, or associated companies that might explain the trading," said Osim.

"There are currently no on-going discussions regarding any joint ventures, mergers, acquisitions or purchases or sales of any significant assets."

The SGX has warned investors to "trade with caution" on the group's shares, adding that it will "investigate all possible transgressions and will work with the relevant regulatory agencies to maintain a fair, orderly and transparent market".

Meanwhile, SMRT Corp was up 5.7 per cent at S$1.295 as at 3.20pm on Thursday. The counter, which closed at S$1.225 the day before, had surged 6.5 per cent to S$1.31 during mid-day trading.

SMRT Corp made a similar reply to the SGX query later in the day saying it was not aware of "any information not previously announced concerning us, our subsidiaries, or associated companies that might explain the trading".

It said the company will make any necessary disclosures at the appropriate time.

tsjwoo@sph.com.sg