The intra-day spike triggered a query from market regulator Singapore Exchange Regulation (SGX RegCo), who has asked the company to explain the “unusual volume movements” in its share price.
SGX RegCo has also asked Beng Kuang to confirm its compliance with the listing rules.
As at 4.33pm, shares in Beng Kuang are trading 4 cents higher or 61.5% up at 10.5 cents, with 17.22 million shares changed hands.
See also: Hotel Properties ‘not aware’ of any possible explanation for ‘unusual’ share price movements
Today’s volume is almost seven times higher than the three-month average volume of 2.39 million shares traded.
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