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Malaysia Tenaga shares surge on tariff raise

Thu Jun 5, 2008 9:19pm EDT

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KUALA LUMPUR, June 6 (Reuters) - Shares of Malaysian power company Tenaga Nasional (TENA.KL) raced up 15 percent on Friday, a day after the company announced an increase of up to 11 percent in tariffs.

At 0114 GMT, Tenaga shares were up 15.1 percent at 8.45 ringgit, while the broader market .KLSE was up 1.6 percent.

Tenaga said on Thursday the price rises for most of its consumers -- part of the Malaysian government's revamp of energy prices announced a day earlier -- would help fight soaring fuel costs but would not be enough to prevent a fall in profits this year. (Reporting by Faisal Aziz; Editing by Louise Heavens)



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