Wednesday, 7 March 2012

Envair falls in active trade after denial of RM1.5b O&G project

KUALA LUMPUR (March 7): Shares of Envair Holdings Bhd felll in active trade on Wednesday after the company denied a news article that its major shareholder in was expected to inject an oil and gas project worth as much as US$600 million (RM1.51 billion) into the company.

At 9.05am, Envair fell 1.5 sn to 33.5 sen with 5.04 million shares traded.

In a filing to Bursa Malaysia Securities Bhd, Envair clarified that it had enquired its directors and major shareholder, and that that there was no proposal to date from the major shareholder to inject the project purportedly located in Eastern Europe into the company.

“The company also wishes to clarify that the article (on March 6) was published without seeking the due reference or consent from the company as the directors are not aware of the source of information,” it said.

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