Deepak Jaikishan, who shot to celebrity in the orthodox declarations done by the pri! vate inv estigator over the Altantuya Shaaribuu attempted murder which implicated Prime Minister Najib Razak, is now creation waves of the opposite arrange as good as in perhaps the most cynical of places - Malaysia's corporate world, where critics often deplore, commercial operation is intertwined with politics.
Deepak, additionally known as First Lady Rosmah Mansor's 'carpet man' since his family runs the rug shop along the bustling Jalan Tuanku Abdul Rahman road, has emerged as the substantial shareholder in Envair Holdings Bhd, the loss-making builder of air as good as H2O filters. The batch is listed upon the Mesdaq Board for tiny as good as often tech shares.
"This is the vital shift for him. Even yet Envair is the tiny firm, it is still the bigger as good as opposite environment compared to his runner commercial operation which was often retail-based. It shows how absolute connectors have been as good as sometimes it is who we know rather than what we know which makes the difference," the research analy! st during the vast brokerage told Malaysia Chronicle.
From selling carpets to Mesdaq
The 39-year-old Deepak paid for the 5.06% approach interest Envair for RM1.32mil or 6 million shares during twenty-two sen apiece, as good as was penetrating to make it known which it would be the 'long tenure investment'. Nonetheless, his stilted make the difference! was the giveaway of his unfamiliarity with his new habitat.
"I aim to be part of this thriving company's senior manager board as good as management. we hereby echo which we will not be selling down my interest in the destiny and, instead, goal to set up it up in the days ahead," Star reported Deepak as saying
Other than Deepak's controversial background, which involves murdered Mongolian translator Altantuya Shaariibuu, the transaction is eye-catching since Envair shareholder Jiang Chuan Yi sold his entire 6.75% interest in the organisation less than the month after appropriation it upon November 1.
Jiang, the Chinese national, did not contend because he sold the shares or give any reasons for the surprising turnover. The sale was finished via open marketplace exchange during an undisclosed price.
Harvest as good as Tiong King Sing
Coming prohibited upon the heels of an additional penny-stock counter related to Prime Minister Najib Razak's family, Harvest Court Industries Bhd, there is red-hot talk which Envair might be the Najibs' latest 'vehicle' to float upon his name to tap income from the batch market. Speculation is rife which the deals were possibly to reap personal gains or to set up the fight chest for general elections which have been widely approaching to be called in 2012.
Indeed, shares in Harvest rocketed to the 9-year-high upon news which Najib's 28-year-old son Nazifuddin had joined the board as good as taken the interest in the firm. So strong was the speculative fervor it generated which alternative penny stocks in the internal marketplace zoomed up upon the coat-tails, prompting pundits to advise of an additional marketplace disturbance similar to which seen in the 1998 Second Board crash.
In the wake of the marketplace commotion, Nazifuddin has sinced quiescent from the Harvest board, b! ut simil ar to Deepak, has pledged to hold onto his Harvest interest for the long term.
News which an additional Najib-linked figure, Bintulu MP Tiong King Sing, might sell off his 31% interest in timber organisation Wijaya Baru Global has compounded the notice of Malaysian politicians trampling the marketplace forward of the turning point polls which might good see the shift in sovereign supervision for the initial time in 54 years.
Retired armed forces Major Anuar Adam, who is linked to depressed aristocrat Halim Saad, as good as is pronounced to be backed by the group of Indonesian bureau worker for this deal, was reported by Business Times as being penetrating to pay Tiong RM1.10 per share for the Wijaya stake. Wijaya's mom share sealed 4.! 5 sen hi gher during 80.5 sen upon Tuesday, whilst the warrants finished the trading day 9.5 sen aloft during 33 sen.
"From Harvest to Envair as good as even Wijaya, these deals seen together can give the wrong impression. Even if they have been sheer coincidence, it can demeanour suspicious. To some seasoned investors, it is the classical throng trying to rush for the slight exit all during the same time as good as this is because they locate the market's attention," the research analyst said.
"It doesn't make the difference if it is for personal gain or all in the name of Umno as good as BN, ! as good as it w ould not be right if this was the case. Even if Najib as good as Perkasa turn it around as good as contend which it is for inhabitant interest or inhabitant security, it is still wrong. The share marketplace is not the soaking machine where we come as good as launder your dirty clothes. Fundraising for political reasons should be done the No-No, as good as retailers should be warned initial as good as foremost. The regulators must beef up their rules. Why ha! ve been politicians still allowed to hold active purposes in listed firms, should they not give these up when they have been in office. Either we have been the bureau worker or the politician. In this day as good as age where clarity as good as good governance have been so crucial, do not come as good as tell us we wish to be the businessman-cum-politician! We have no place for you."
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