Jardine Fleming Group (JF) was unable to comment on reports that it is interested in making a bid for South Korea's number three brokerage Daewoo Securities.

The Korean Economic Daily said yesterday that JF was the sixth foreign group interested in making a move.

'The comment is that we can't make a comment,' a JF spokesman said yesterday. 'There are five companies currently bidding for Daewoo Securities and the rumour mill has decided to include Jardine Fleming. It came as interesting news to us.'