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Hot stock: SIA Engineering gains 9.4%, receives SGX query
THE Singapore Exchange (SGX) flagged “unusual price movements” in the shares of SIA Engineering (SIAEC) on Friday.
The counter was up 9.4 per cent or S$0.19 to trade at a three-month high of S$2.21 as at 1.54pm. More than two million shares had changed hands by then.
The bourse operator asked SIAEC whether it was aware of any possible explanation for its trading activity.
The last time the aircraft maintenance, repair and overhaul company’s stock price was above Friday’s level was on March 6, when it plunged to S$2.33, and continued its decline before bottoming at S$1.50 on March 23.
SIAEC’s latest bourse filing before Friday was made on May 11, when it released its latest financial results. Excluding government support, its net profit would have increased by just 4.5 per cent to S$168.2 million for the fiscal year ended March 31, 2020.