Hot Stock Gas Malaysia gains 1.27% on receiving nod for tariff hike
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Hot Stock Gas Malaysia gains 1.27% on receiving nod for tariff hike
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[size=28]Gas Malaysia gains 1.27% on receiving nod for tariff hike
By Surin Murugiah / theedgemarkets.com | June 30, 2016 : 11:00 AM MYTKUALA LUMPUR (June 30): Shares of Gas Malaysia Bhd rose 1.27% on thin trade at mid-morning today after the federal government revised the average price of natural gas for the non-power sector in Peninsular Malaysia from RM25.53 per million British thermal units (MMBtu) to RM27.05 per MMBtu, an increase of 5.95%, effective July 15.
At 10.30am, Gas Malaysia added 3 sen to RM2.39 with 50,300 shares done.
In a filing with Bursa Malaysia yesterday (June 29), Gas Malaysia said the revision is in line with the national rationalisation plan and gas cost pass-through mechanism, which allow prices to be revised every six months.
Gas Malaysia said the government on Tuesday (June 28) had issued an instruction to the company to effect the revision of the natural gas tariff for the non-power sector in Peninsular Malaysia from July 15.
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