Sitra shares soar on bullish report

THE stock of wood products and furnishings specialist Sitra Holdings (International) surged almost 36 per cent on Thursday following an online report by a stockbroking house which suggested the company is worth a lot more than originally estimated.

The counter was the bourse's top percentage gainer as it ended Thurday's session half a cent up at 1.9 Singapore cents - its highest close in two months - on a volume of some 33.6 million shares.

In an internal note to traders via its KELIVE message transmission system, Maybank-Kim Eng noted that Sitra's 10 per cent stake in an industrial property located at 18 Sungei Kadut Street 2, was worth a lot more than the market originally estimated.