SGX issues 'trade with caution' note on UOL

THE Singapore Exchange (SGX) has issued a "trade with caution" note on UOL Group, which saw a substantial 6.4 per cent rise in its share price on Wednesday.

According to the SGX, UOL has responded to its query on the share movement on Wednesday saying that it was not aware of any reasons that could possibly explain the trading in its securities.

"In view of the trading activities observed and the issuer's response, shareholders and potential investors should exercise caution when dealing in the securities," the SGX said. "The exchange will investigate all possible transgressions and will work with the relevant regulatory agencies to pursue actions to maintain a fair, orderly and transparent market."