Hot stock: SMRT up 5.7% on heavy volume, gets query from SGX

A SURGE in trading in the shares of local rail transport operator SMRT Corporation has prompted a Singapore Exchange (SGX) query.

By 10.26am, the counter was up 8.5 cents to S$1.565, or 5.7 per cent, with 4.3 million shares traded. SMRT's counter eventually closed 5.4 per cent higher, at S$1.56.

SGX noted this was the second query in three months.

In response, SMRT said that it was "not aware of any information not previously announced" which might explain the trading on Friday.

"As previously announced on Oct 27, 2015, we are continuing our discussions with the authorities on the transition to a new Rail Financing Framework and progress is being made. The company will, in compliance with the corporate disclosure policy of the SGX-ST Listing Manual, make the necessary disclosures if and when these discussions result in any transaction," SMRT added.