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Hot stock: Aspen soars 55% to three-month high, triggers SGX query

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Yong Hui Ting

Yong Hui Ting

Published Thu, Dec 29, 2022 · 10:36 AM
    • The group’s core business is in property development in Malaysia – building residential and mixed-use properties that target middle-income mass market purchasers.
    • The group’s core business is in property development in Malaysia – building residential and mixed-use properties that target middle-income mass market purchasers. PHOTO: BLOOMBERG

    SHARES of Malaysian property developer Aspen (Group) soared 55 per cent on Thursday (Dec 29) morning to reach a three-month high of S$0.053, before easing slightly to S$0.049 at 9.56 am.

    Data from the Singapore Exchange portal showed more than 19 million shares changing hands in the morning.

    This prompted Singapore Exchange Regulation to issue a query asking if the company was aware of any information not previously announced which may explain the surge, or any other explanations for the “unusual volume movements” in its shares.

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