Hot stock: HGH down 14.3%, gets SGX query

SHARES of concrete manufacturer HGH Holdings fell 14.3 per cent to an intraday low of 1.2 Singapore cents at 9.42am on Friday, prompting a query from the Singapore Exchange (SGX).

More than 105.5 million securities worth S$1.5 million changed hands as at 11.47am.

This prompted a query from SGX on the "unusual volume movements", asking if the group was aware of any possible explanation for the trading activity, including any information not previously announced, or the public circulation of information by rumours or reports.

No married deals were recorded in early trade, according to Shareinvestor data.

The counter has been rising since Wednesday, up from 0.8 cent on March 3 to 1.4 cents at Thursday's close, the highest in a year, before slipping on Friday.

According to HGH's website, the company listed on the Catalist board in 2005 when it was primarily involved in the manufacturing and supply of high-precision cold-forged loudspeaker parts. It later went through a divestment in 2017. Currently, the company is a manufacturer of concrete, cement and plaster.