Tenaga's 2Q Announcement - News ExcerptsPrint this page
Date: 15 April 2006
Tenaga Nasional Berhad has announced a net profit before foreign exchange translation gain of RM516.1 million for the first six months of the current financial year. This figure represents a drop of 22.3% when compared with RM664.2 million it recorded in the corresponding period of FY2005. Below are two excerpts about the news from our local print media. TNB fears for future without tariff hike Its net profit for the second quarter to February 28 rose 35 per cent to RM399.5 million, driven by higher electricity sales and stronger ringgit. For the six-month period, its net profit more than doubled to RM995.1 million. This was mainly due to foreign exchange gains on its foreign debt. A stronger ringgit makes it cheaper for TNB to pay its borrowings. Sales for the first half increased by 6 per cent to RM9.74 billion. However, operating expenses rose even faster, rising 8.4 per cent to RM8.24 billion. Excerpt from New Straits Times, dated 14 April 2006 TNB net profit rises for Q2 on currency gains Tenaga Nasional Berhad (TNB) net profit for the second quarter rose 35% to RM399.5mil on currency gains as the ringgit strengthened against the US dollar during the three months ended Feb 28. Net profit for the six months ended Feb 28 came to RM995.1mil, or about half of what most analysts had expected the company to make for the full year. TNB’s operating cost would rise further with the anticipated additional generation capacity payments, with two new independent power producers (IPPs)-Tanjung Bin Power Sdn Bhd and Jimah Energy Ventures Sdn Bhd-expected to come onstream in the near future up to 2009. Excerpt from The Star, dated 14 April 2006
