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!
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!
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!)