Therapeutic chair retailer Osim says it has no idea why its share price has slumped nine per cent in just two days this week.

The sudden fall prompted a ‘please explain’ memo from the Singapore Exchange, (SGX), which warned investors to “trade with caution”.

In a statement to the SGX Osim International Ltd said it was not aware of any information not previously announced which might explain the unusual trading pattern – “If yes, the information shall be announced immediately”.

“We are not aware of any information not previously announced concerning us, our subsidiaries or associated companies that might explain the trading.

“There are currently no ongoing discussions regarding any joint ventures, mergers, acquisitions or purchases or sales of any significant assets,” the company said.

Osim was founded in Singapore by Ron Sim in 1980 as an electrical and appliance retailer, later changing its focus into a healthy lifestyle products distributor, adopting the Osim name in 1993.

The chain, best known for its luxury massage chairs, has expanded from its early network of stores in Singapore, Malaysia and China to span 1040 locations in 217 cities in 29 countries.