Type : Announcement
Subject : SAAG Consolidated (M) Bhd ("SAAG" or "the Company")
- SAAG RR Infra Limited, Indian subsidiary of SAAG awarded Oil And Natural Gas Corporation Limited, Well Services, Mumbai Region, Material Management, India contracts for charter hire of offshore modular rigs ("Contract")


Contents : Further to the announcements dated 18 April 2008 and 22 April 2008 in relation to the above captioned matter, the Board of Directors of SAAG is pleased to announce that our Indian subsidiary, SAAG RR Infra Limited ("SAAG RR") has informed us today that the following Contracts with Oil And Natural Gas Corporation Limited ("ONGC") has been duly executed based on identical conditions stipulated in the firm order dated 17 April 2008 as annouced on 18 April 2008:-

i) For charter hire of one No. of light weight offshore modular workover rig "SAAG Pacific"; and

ii) For charter hire of one No. of light weight offshore modular workover rig "SAAG Saffron".

This announcement is dated 12 May 2009.

My friend bought 22k @ 0.370

He's so brave!

I used to dispose for 200 2 weeks ago. Can't stand when the price keep dropping! So decided to sell.

Sure will be green.

yeah sold at 0.340 no eye see this share..

Type : Announcement
Subject : SAAG CONSOLIDATED (M) BHD (“SAAG” OR “THE COMPANY”)



Contents : ISSUANCE BY SAAG (L) LIMITED (“SAAGL”), A WHOLLY-OWNED SUBSIDIARY OF SAAG, OF UNITED STATES DOLLAR (“USD”) DENOMINATED FIVE (5)-YEAR EXCHANGEABLE BONDS (“EXCHANGEABLE BONDS”)


Announcement Details :

We refer to the announcements made on 29 May 2009, 29 September 2008, 23 June 2008, 11 April 2008 and 3 December 2007 in respect of the Exchangeable Bonds.

(Unless otherwise defined, all terms used in this announcement shall have the same meaning ascribed to them respectively in the earlier announcements on the Exchangeable Bonds)

Further to the Company’s earlier announcements in respect of the Exchangeable Bonds, AmInvestment Bank Berhad (a member of AmInvestment Bank Group), on behalf of SAAG, wishes to announce that the second tranche of the Exchangeable Bonds to be issued by SAAGL shall comprise of USD5 million nominal value Exchangeable Bonds (“2nd Tranche”).

SAAG / SAAGL have today fixed the exchange price for the 2nd Tranche at RM0.3417. Based on such exchange price and the agreed fixed exchange rate for the 2nd Tranche of USD1.00 : RM3.62, the number of ordinary shares of RM0.10 each in SAAG (“SAAG Shares”) into which the Exchangeable Bonds to be issued under the 2nd Tranche may be converted is approximately 52,971,000 SAAG Shares.

The exchange price for the 2nd Tranche of RM0.3417 represents a premium of 0.5% over the last transacted market price of SAAG Shares on 1 June 2009 of RM0.34, being the market day immediately preceding the date of this price-fixing announcement.

Apart from the abovesaid exchange price and exchange rate, all other principal terms and conditions of the Exchangeable Bonds to be issued in respect of the 2nd Tranche will be determined and announced at a later date.

This announcement is dated 2 June 2009.

hmm i try to queue to buy @ 0.34 to average down, but failed..... u shud be happy u got the lowest 1 haha

Same with me. Something wrong with this company..their Q1 report did'nt impress me. It should make a profit at current oil price. Wait Q2 report .. hope not too late to join the rally.