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SAAG Consolidated (M) Bhd yesterday made two significant announcements that are likely to result in a re-rating on the company. The first is on the agreement it entered with Keppel Oil International Ltd Inc to build, own and operate mobile offshore jack-up drilling rigs for US$155mil in Labuan Shipyard.
Tenaga Nasional Bhd (TNB) reported a big jump in net profit for the three months ended Nov 30, 2007, thanks to an increase in electricity demand and a stronger ringgit, which helped reduce the cost of its foreign-currency debt.
China Shenhua Energy, the world's biggest coal producer by market value, said yesterday it plans to base its 2008 export prices against the US$125 a tonne set by Australia's Xstrata.
China Coal Energy, the country's No. 2 coal producer, is exploring investments in Australia and Indonesia while it doubles spending to ramp up production and feed the world's largest coal market.