Electricity demand rebounds to new record
1H25 normalised net profit was broadly in line with our forecast.
TNB maintained interim DPS at 25 sen, with no provision made for tax liability.
Quarterly electricity demand rebounded in 2Q25 to a new high, driven mainly by the commercial sector.
Regulated capex spend in 1H25 was up 44% yoy.
Reiterate Add, with an unchanged SOP-based TP of RM18.00.
Source: CGS
https://rfs.cgsi.com/api/download?file= ... 95850304F3
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Tenaga Nasional
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Re: Tenaga Nasional
by winston » Fri Aug 29, 2025 11:50 am
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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