- Envair Holdings active, down in afternoon session
Written by the edgemalaysia
Thursday 22, December 2011
KUALA LUMPUR (Dec 22): ENVAIR HOLDING BHD  shares were actively traded and fell on Thursday after Carpet Raya Sdn Bhd director Deepak Jaikishan ceased to be a substantial shareholder in the loss-making company.
At 2.50pm, Envair fell four sen to 28 sen with 13.96 million shares done.
A filing with Bursa Malaysia on Dec 21 showed that Deepak had disposed six million Envair shares in the open market on Dec 14.
Deepak had emerged as a substantial shareholder in Envair after he acquired a 5.06% equity interest or six million shares in Envair in a direct deal on Dec 2.
( refer Notice of Interest Sub. S-hldr (29A) - Deepak Jaikishan )
On the 14 December, Envair was trading between 34 sen and 38 sen!
Wanna try calculate the cool profits?
How cool is this?
Now consider this also...
On 6 December 2011: Jaikishan buys 5.06% stake in Envair for RM1.32mil
- ............ Envair told Bursa Malaysia that the 39-year old supplier of carpets recently in the news for his link to controversial statutory declarations had bought the six million shares at 22 sen apiece last Friday.
Envair last saw a Chinese national, Jiang Chuan Yi, selling off his entire stake of 6.75% in the company less than a month after acquiring it on Nov 1.
The sale was done via open market transactions at an undisclosed price.
Envair's stock had surged in early October from 11 sen to 40 sen in early November, just before the company unveiled its plans to move into the oil and gas industry by supplying two million barrels of light crude oil monthly for 60 months to a China-based company, An Hong Shenzhen.
The deal surprised analysts who questioned then how a little-known loss-making company could secure such a huge deal from a Chinese party.
Envair shares ended 2.5 sen higher to 31.5 sen yesterday.
The rapid exit of Jiang remains a concern in light of Jaikishan's recent purchase of the 5.06% block in Envair........
On the 10th December, the following was published: Envair gets support letter for financing
- ........ Jaikishan did not divulge from whom he purchased his block of shares, saying only: “I took it as an opportunity to come in on the cheap.”
In an interview with StarBizWeek, Jaikishan, whose family is in the business of carpet trading and property investment, said he bought into Envair based on the company's foray into the oil and gas industry.
“Right now, that's the only reason it is exciting,” he said.
While declining to comment on the profits his personal businesses generated, the 39-year-old businessman said he would like to contribute in terms of finance to Envair.
“But I also want to take an active role in Envair's business. I've met some of its (substantial) shareholders,” he said.
According to Jaikishan, Envair is expected to call for a shareholders' meeting soon to seek his appointment to the board.
He also said he was in discussions to further increase his stake in the company.
“I bought one million shares two to three days ago and another one million today (yesterday) off the market,” he said.
Mohd Anuar declined to elaborate when asked about the emergence of Jaikishan in Envair.
“Yes, I know him,” he said, adding that he (Anuar) himself had no stake in the firm.
For the third quarter ended Sept 30, Envair had a net loss of RM900,000 against a net loss of RM1.29mil a year earlier.
The stock ended 0.5 sen up at 27 sen yesterday.
So on 10 December Deepak tells everyone his bullish views on Star Biz, one of our national newspaper but then on the 14 December, he sold all the shares!!!!!!
And this my friends, is how to make money in our stock market the easy way!