My observation on the recent sell-down on Inari was actually a strategical planning by KWAP (kumpulan Wang Persaraan). It is predicted and actually told by the management that the 3rd quarter (Period end at 31 Mar 2016) will be the worst one. As a result, KWAP was waiting for the right timing to sell-down the stocks to create a panic selling by other traders/small fishes because everyone (especially who don't know that the 3rd quarter will be a bad one) thought inari will sharp drop like Gtronic.
From the chart and shareholding changes, it is clear only KWAP was selling down the stocks. But recently KWAP bought back majority of the shares that they had disposed during April and Inari stock price is coming back to the normal level.
On the other words, the recent big volatility of inari stock price was caused by KWAP , and since they are accumulating back the stocks, we should re-assess back the fundamental of Inari and decide if we should invest in it or not.
on my personal view, the short term view on Inari is very promising.
Below were the transactions done by KWAP.
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted (RM)
|
| Acquired | 13 Apr 2016 |
500,000
| ||
| Acquired | 14 Apr 2016 |
2,233,300
| ||
| Disposed | 15 Apr 2016 |
30,000
| ||
| Acquired | 15 Apr 2016 |
2,000,000
| ||
| Acquired | 19 Apr 2016 |
141,500
| ||
| Disposed | 19 Apr 2016 |
2,800,000
|
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted (RM)
|
| Acquired | 20 Apr 2016 |
500,000
| ||
| Disposed | 20 Apr 2016 |
3,700,000
| ||
| Acquired | 21 Apr 2016 |
53,200
| ||
| Disposed | 21 Apr 2016 |
3,000,000
| ||
| Acquired | 21 Apr 2016 |
441,000
| ||
| Acquired | 22 Apr 2016 |
47,400
| ||
| Disposed | 22 Apr 2016 |
64,400
| ||
| Acquired | 25 Apr 2016 |
47,900
| ||
| Disposed | 26 Apr 2016 |
1,292,700
| ||
| Disposed | 26 Apr 2016 |
2,000,000
|
on 27 April, KWAP Sold 3070000 shares and bought all of them back. it can be witnessed in the stock chart that on that day a hammer was formed.
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted (RM)
|
| Disposed | 27 Apr 2016 |
3,368,283
| ||
| Acquired | 27 Apr 2016 |
3,070,000
| ||
| Disposed | 28 Apr 2016 |
1,913,300
| ||
| Disposed | 29 Apr 2016 |
80,000
|
KWAP started buying back a lot on 10 May 2016
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted (RM)
|
| Acquired | 10 May 2016 |
2,077,700
|
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted (RM)
|
| Acquired | 13 May 2016 |
500,000
| ||
| Acquired | 16 May 2016 |
500,000
| ||
| Acquired | 17 May 2016 |
800,000
|
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted (RM)
|
| Acquired | 18 May 2016 |
1,000,000
| ||
| Acquired | 19 May 2016 |
450,000
| ||
| Acquired | 20 May 2016 |
276,900
|
| Type of transaction | Description of Others | Date of change |
No of securities
|
Price Transacted (RM)
|
| Acquired | 25 May 2016 |
3,000,000
| ||
| Disposed | 25 May 2016 |
866,600
| ||
| Acquired | 26 May 2016 |
195,200
| ||
| Acquired | 27 May 2016 |
1,000,000
|
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