What's fuelling Bt Sembawang rally?

OF LATE, the stock of a 105-year-old company has been quietly rallying to a one-year high, with volume to boot. What has sparked the renewed interest in Bukit Sembawang Estates, a conservatively-run, debt-free residential property developer partly owned by OCBC's founding Lee family?

From S$4.64 in July 11, the counter has advanced to S$5.12 by the end of trading on Wednesday - a one year-high and a rally of 10 per cent in little more than a week.

Trading volumes, too, have exploded from under 10,000 shares a day two weeks ago to a total of more than 300,000 shares done in the past three days.

It is trad…