UTILITY giant Tenaga Nasional Bhd has acquired 66.538 million shares or 22.12 per cent of port operator and marineservice provider, Integrax Bhd, for RM106.46 million.

Integrax is an investment holding compny while its subsidiaries are principally involved in port operations, marine services, industrial property and mining.

'The strategic acquisition will enable Tenaga to secure the coal handling services for its power plant and enhance the efficiency and operations ofits power station,' said Tenaga in a filing to Bursa Malaysia today.

Tenaga intends to fund the purchase consideration entirely through internally generated funds, it said.

The acquisition will not have any material effect on Tenaga's net assets per share, earnings per share, gearing, share capital and substantial shareholders' shareholding of Tenaga Nasional. - BERNAMA