Zhongxin Fruit, on Jan 26, received a query from Singapore Exchange Regulation (SGX RegCo) after its share price reached a high of 6.3 cents as at 3.30pm, nearly double the 3.1 cents as at market close on Jan 25.
The market regulator, at 3.33pm, asked the company to confirm its compliance with the listing rules and ordered it to reveal any information that could have brought about the surge in price.
Shares in Zhongxin Fruit were among the top three advancers on the SGX.
As at 3.49pm, shares in Zhongxin Fruit are trading 2.8 cents higher or 90.3% up at 5.9 cents.
Update
At 5.22pm on Jan 26, Zhongxin Fruit issued a response to SGX RegCo saying that it is unaware of any information that could explain the "unusual" price and volume movements in its shares.
However, it adds that the company is in the midst of finalising its unaudited financial results for the 1HFY2021 ended December, which the group expects to report a net loss.
See: Zhongxin Fruit to report net loss for 1H21
The group's financial results will be announced on or before Feb 14.
