Loss of market confidence here - just look at cases such as Sino Construction

ON March 2, Sino Construction's share price closed about 15 cents down from its previous trading day's closing price of 26.5 cents on Feb 27 - a fall of 55.8 per cent. The following day, its share price halved again to close at six cents. By March 9, its share price had fallen to 5.4 cents - a total fall of about 80 per cent over just six trading days.

I have been following developments at Sino Construction since Feb 5 when I was alerted to a clarification issued by the company. The clarification was in response to a query from the Singapore Exchange (SGX) that certain information about the company which appeared in a Business Times article the previous day ("Sino Construction unit in renewable energy venture", Feb 4) had not been previously announced or disclosed.

In its response, the company said: "The statement that 'To date, more than 150 sites have been identified as commercially viable for the project' in South Korea, was not made by the Company or persons authorised by the Company."