Hot stock: SIIC continues rally despite 'trade with caution' warning

SIIC Environment continued to rally on Thursday early trading following a query from the Singapore Exchange (SGX) on the stock and a "trade with caution" warning from SGX before market opened.

At 11.05am, SIIC was the most active stock with 109.2 million shares having changed hands. Its share price rose 5.8 per cent or 1.1 cent to 20 cents.

The mainboard-listed water specialist announced in March that it has entered into a sale and purchase agreement with Global Environment Investment Ltd to acquire Global Environment Investment (HK) Limited and Fudan Water Engineering and Technology Co Ltd for a total RMB1.55 billion.

Fudan Water currently undertakes some 10 projects in China, located in Shanghai, Jiangsu, Zhejiang and Guangdong, with a planned water treatment capacity of over one million tonnes per day.