SAAG RR Members Approve Fund Raising AGM Endorse Venture into theOil Gas Sector



SAAG RR Members Approve Fund Raising AGM Endorse Venture into the Oil 's038; Gas Sector   

  
SAAG RR Members Approve Fund Raising AGM Endorse Venture into the Oil 's038; Gas Sector

Stakeholders of SAAG RR Infra Limited, a subsidiary of SAAG CONSOLIDATED (M) BHD Malaysia, have approved raising of long term funds not exceeding Rupees 30 Crores, either by issue of shares to public or right issue, ADR, GDR or any other instrument, in the international or domestic markets, on the terms and conditions to be decided by the board. The said funds proposed to be raised are to meet the expansion plans of the Company in Infrastructure and Oil & Gas Sector. SAAG RR with the support of SAAG and its associated Companies has positioned itself to meet the growing requirements of the Oil & Gas Sector.

Chennai January 4, 2006 -- Stakeholders of SAAG RR Infra Limited, a subsidiary of SAAG CONSOLIDATED (M) BHD Malaysia, have approved raising of long term funds not exceeding Rupees 30 Crores, either by issue of shares to public or right issue, ADR, GDR or any other instrument, in the international or domestic markets, on the terms and conditions to be decided by the board. The said funds proposed to be raised are to meet the expansion plans of the Company in Infrastructure and Oil & Gas Sector. SAAG RR with the support of SAAG and its associated Companies has positioned itself to meet the growing requirements of the Oil & Gas Sector.

SAAG RR registered a growth of 200% in the turnover for the second quarter ended September 30, 2005 over the corresponding quarter, the previous year. The Company maintained its trend of improved financial performance by posting a rise in the net profit after tax for the second quarter compared to the previous fiscal. The income from sales for the second quarter registered a growth of 200%. SAAG RR added 13 clients in the second quarter.

SAAG RR has also set up a 48 hrs "Investor Redressal system," wherein all investor complaints/queries will be attended to within 48 hrs of receipt.


About SAAG RR Infra Ltd:
SAAG RR Infra Ltd., is a subsidiary of SAAG CONSOLIDATED (M) BHD (SAAG), a key player in the oil and gas sector in Malaysia for over 23 years. As a company principally providing investment holding and management services, SAAG through its group of companies and strategic partnerships is involved in upstream and downstream activities in the oil and gas industry. With a reputation as an innovative player in the manufacture, supply and service of equipment and machinery in the oil and gas industry in Malaysia, SAAG has been growing rapidly and currently represents more than 20 established manufacturers of oil and gas (O&G) equipment and machinery. Strategic alliances in niche growth areas have provided SAAG with the competitive edge to offer technical expertise, equipment and manpower to undertake high-end projects in the industry. SAAG has already expanded operations to Singapore (1989), Brunei (1992), India (2003), Australia, Thailand and Korea (2004).
SAAG RR Infra limited is listed in both Bombay Stock Exchange (BSE Code: 531374) and Madras Stock Exchange.





SAAG RR Members Approve Fund Raising AGM Endorse Venture into theOil Gas Sector