SAAG's share price rose 6.5 per cent, or 40 sen, to RM6.55 before trading was suspended yesterday. The company's shares have jumped almost fivefold so far this year.
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Malaysian SAAG Buys Oil Rig
SAAG Consolidated, a key player in the oil and gas sector in Malaysia
SAAG Consolidated, a key player in the oil and gas sector in Malaysia, a supplier of spare parts to oil and gas firms, is rumoured to acquire an oil rig.
"The rumour is that the company is buying a used workover rig. They will then refurbish it and use it in their operations," said a broker.
A workover rig is used when oilmen try to restore or increase a well's production.
SAAG's share price rose 6.5 per cent, or 40 sen, to RM6.55 before trading was suspended yesterday. The company's shares have jumped almost fivefold so far this year.
SAAG's share price rose 6.5 per cent, or 40 sen, to RM6.55 before trading was suspended yesterday. The company's shares have jumped almost fivefold so far this year.
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