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Southern Alliance shares up more than a fifth, drawing query from SGX (update)

The Edge Singapore
The Edge Singapore • 1 min read
Southern Alliance shares up more than a fifth, drawing query from SGX (update)
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Southern Alliance Mining QNS -

's share price surged by more than a fifth thus far today, drawing a query for unusual trading activity from SGX.

Just on March 16, the Malaysia-based iron miner announced a loss of RM10.2 million for half year ended Jan 31, versus earnings of RM27.4 million in the year earlier period.

Revenue in the same period was down 47% y-o-y to RM52.2 million.

In its response after the market closed for the day, Southern Alliance says that there "no material agreements or contracts have been entered into" and that it is not aware of any information not previously announced that might "explain the trading".

Southern Alliance closed the day at 80 cents, up 17.65%.

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