MAINBOARD-LISTED electrical lighting products maker JK Yaming International Holdings Ltd - whose shares plunged 34 per cent to 34 cents in heavy volume last Friday - has reiterated that it was not aware of any information that could have caused the downward spiral.

The share plunge came amid dumping last week of shares in two other companies, prompting some observers to say JK Yaming could have fallen victim to rumours too. Last week, shares in construction firm Leong Hin Holdings dived on market talk it was the subject of a Commercial Affairs Department share trading probe.

Also sucked into the rumours later were electronics distributor TT International.

Leong Hin has since said its 'executive directors were asked to assist a governmental agency in certain enquiries'. And TT International has said its directors and senior management have informed the company that none of them have been queried or investigated by any government agency.

Meanwhile, JK Yaming also disclosed on Saturday that Nexgen Capital, a venture capital firm linked to Temasek Holdings, has raised its stake in the company to 8.8 per cent.

Nexgen on Friday purchased 500,000 JK Yaming shares, or 0.25 per cent of its issued share capital, at 36.32 cents each on the open market.

Seeking to allay possible fears over Sars, JK Yaming's executive chairman Ang Chiong Chai said: 'Our manufacturing facilities in China are mainly located in Fuzhou, Nanping and Ningguo, which are not the typical Sars-infected areas.

'However, we have already undertaken preventive measures to ensure all our operations will not be disrupted in any events.'

YK Yaming also said demand in its major market segments - electrical lighting and automotive wire harness - remained strong and that it stayed upbeat on growth outlook.

《The Business Times》