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Navara buys IDL

4 posters

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1Navara buys IDL Empty Navara buys IDL Mon Oct 17, 2011 5:30 pm

godswen

godswen
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Navara capital owned by Harsha De deleted has bought 4,653,200 shares or 95.79% stake of Infrastructure Developers PLC at 27.5 Rupees a share.

http://www.cse.lk/cmt/upload_cse_announcements/3301318849004_.pdf

This was previously owned by a Malaysian air transportation company Fly Asia Sdn. Bhd,
I've checked their (IDL) financials, but I don't think they have done any business for the past few years,

Fly Asia Sdn. Bhd has bought this 70% of this company on 19th Aug 2010 at Rs. 13 per share from Pacific Far East investments Inc.
http://www.cse.lk/cmt/uploadAnnounceFiles/7581282275638_624.pdf

and they issued a mandatory offer to buy rest 30% at Rs 13.
http://www.cse.lk/cmt/uploadAnnounceFiles/6121282305524_624.pdf


Now they have sold it at 27.5 rupees a share after holding it for about one year with a 100% capital gain! cheers

Isn't it interesting..!

(There's a relation of IDL and Asia 2000 Investments, which is owned by Mr. Nahil Wijesuriya, where he is also a director of IDL- I didn't read in to much details :/ )

Wait, I found more on Asian Tribune! Twisted Evil

Back in 2010 the majority stake (99%) of IDL was acquired by Malaysian based Fly Asia SDN Berhad from Pacific Far East Investments ( 3.4 million shares), Asia 2000 investments Inc. (728,622 shares), and Southern Asia Investments Inc. ( 728,622 shares).

IDL had been another dud company in CSE without earning a cent as revenue since 2009 according to financials while company had accumulated a total loss of Rs.87.58 million as at 30 September 2010. Company’s share had been last traded at Rs.37.50.



Last edited by godswen on Mon Oct 17, 2011 5:40 pm; edited 1 time in total (Reason for editing : Added some more!)

2Navara buys IDL Empty Re: Navara buys IDL Mon Oct 17, 2011 6:46 pm

glwking

glwking
Manager - Equity Analytics
Manager - Equity Analytics

Why some names are displaying as "deleted". What's wrong, if we get to know those names. It's really annoying. Twisted Evil

Admin and moderators!. please, why don't you consider to display the names, what ever the we write. Is it a violation of forum rules?

3Navara buys IDL Empty Re: Navara buys IDL Mon Oct 17, 2011 7:37 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

glwking wrote:Why some names are displaying as "deleted". What's wrong, if we get to know those names. It's really annoying. Twisted Evil

Admin and moderators!. please, why don't you consider to display the names, what ever the we write. Is it a violation of forum rules?

Names of Some populer public figures had to be sensored out to save guard the forum's future..

4Navara buys IDL Empty Re: Navara buys IDL Mon Oct 24, 2011 5:50 pm

godswen

godswen
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Today top gainer - IDL! Closing price 54.70! Up 49% But only 300 shares traded!
100% Gain to Navara capital!

INTERESTING! xD

5Navara buys IDL Empty Re: Navara buys IDL Mon Oct 24, 2011 8:16 pm

mark

mark
Expert
Expert

godswen wrote:Today top gainer - IDL! Closing price 54.70! Up 49% But only 300 shares traded!
100% Gain to Navara capital!

INTERESTING! xD

i think the 10k buyer controls the price Sad

no question,less supply will boost the price until met the equilibirium Wink

6Navara buys IDL Empty Re: Navara buys IDL Tue Nov 01, 2011 11:55 pm

mark

mark
Expert
Expert

NAVARA into MBSL

http://www.cse.lk/cmt/upload_cse_announcements/9341320059516_.pdf

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