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FJ Benjamin draws SGX query after rising 22.6% in 1 day

LUXURY fashion and timepiece retailer FJ Benjamin said on Thursday that it is unaware of any reasons that might explain the unusual trading activity in its shares.

The statement came after some unusually large trades pushed FJ Benjamin shares steadily higher over the course of the day, prompting a query from the Singapore Exchange's surveillance team at 4.48pm.

The shares closed up 0.7 Singapore cent or 22.58 per cent at an intraday high of S$0.038, on a volume of 15.4 million. FJ Benjamin shares haven't seen so much interest since July.

In its response to the SGX shortly after trading hours, FJ Benjamin said: "The company is unaware of any information not previously announced concerning FJ Benjamin Holdings, its subsidiaries or associated companies which, if known, may explain the unusual trading activity."

FJ Benjamin is on the SGX watchlist for both financial and minimum trading price entry criteria. On Nov 7, it reported a net loss of S$670,000 for the first quarter ended Sept 30, widening from a net loss of S$180,000 in the same period a year earlier.

Although operating profit rose 28 per cent to S$306,000, the group's share of losses from Indonesian associate Gilang Agung Persada was S$235,000, compared to a profit of S$197,000 in the same period a year earlier as residents stayed indoors amid student demonstrations and riots in almost every province, hurting foot traffic in the shopping districts, the group said.