Yongnam links share price surge to IRs' S$9 billion investment plans
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Vivienne Tay
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Singapore
MAINBOARD-LISTED Yongnam Holdings said it was not aware of any material information that might have triggered a stock price rally on Thursday but flagged media and analyst reports that alluded to brighter prospects for the construction industry on account of expansion plans by Singapore's two integrated resorts (IRs).
It was responding to queries from the Singapore Exchange (SGX) over "unusual price and volume movements" in its shares, which on Thursday shot up 18.47 per cent to S$0.186. Turnover was a hefty 17 million shares compared to 700,000 the day before.
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