Tenaga slips on tariff hike disappointment
Friday, December 10, 2010
KUALA LUMPUR: Shares of TENAGA NASIONAL BHD fell in early trade on Friday, Dec 10 following investors’ disappointment over a delay in the tariff hike.
At 9.19am, it was down seven sen to RM8.72 with 62,400 shares done.
The decline in the power giant’s shares also weighed on the FBM KLCI, which dipped 0.32 of a point to 1,520.97. Turnover was 124.31 million shares valued at RM158.66 million. There were 148 gainers, 104 losers and 141 stocks unchanged.
Tenaga president and chief executive officer Datuk Sri Che Khalib Mohamad Nor said on Thursday he was confident it could maintain its profitability for the financial year ending Aug 31 2010 barring higher coal prices continues to climb higher and breach US$110 a tonne.
On the postponement of the tariff hike, as announced by the Energy, Green TECHNOLOGY and Water Minister Datuk Seri Peter Chin Fah Kui, Che Khalib had said it is the government’s prerogative.
At 9.19am, it was down seven sen to RM8.72 with 62,400 shares done.
The decline in the power giant’s shares also weighed on the FBM KLCI, which dipped 0.32 of a point to 1,520.97. Turnover was 124.31 million shares valued at RM158.66 million. There were 148 gainers, 104 losers and 141 stocks unchanged.
Tenaga president and chief executive officer Datuk Sri Che Khalib Mohamad Nor said on Thursday he was confident it could maintain its profitability for the financial year ending Aug 31 2010 barring higher coal prices continues to climb higher and breach US$110 a tonne.
On the postponement of the tariff hike, as announced by the Energy, Green TECHNOLOGY and Water Minister Datuk Seri Peter Chin Fah Kui, Che Khalib had said it is the government’s prerogative.
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