SINGAPORE: Sesdaq-listed Select Catering says it is currently in talks with developer Jit Sun Investments (JSI) to lease and manage a boutique hotel that is currently being built.

The business hotel will be located at Hoe Chiang Road.

Select Catering was responding to a query from the Singapore Exchange over the substantial increase in its share price.

At the same time, JSI plans to acquire a stake in Select Catering by buying 32 million shares from Alimento Holdings.

Before being suspended on Wednesday afternoon, shares in Select Catering traded at 36 cents – up 22 percent from Tuesday's closing price.


- CNA/so