Proposed Internal Reorganisation of Tenaga Nasional Berhad and Its Subsidiaries

29/07/2019

On behalf of the Board of Directors of Tenaga Nasional Berhad (“TNB”) (“Board”), Maybank Investment Bank Berhad wishes to announce that today the Board has approved the Proposed Internal Reorganisation which involves the transfer by TNB of its domestic power generation and electricity retail businesses to two (2) new wholly-owned subsidiaries of TNB which will be incorporated.

The Proposed Internal Reorganisation is expected to improve the efficiency, agility and performance of the business segments of the TNB group of companies (“TNB Group” or “Group”) and promote ownership, entrepreneurship and innovation within the Group. The Proposed Internal Reorganisation is in line with TNB’s strategic transformation plan, Reimagining TNB, and is envisaged to improve the TNB Group’s performance and returns to the shareholders of TNB in the medium to long-term.

Please refer to the attachment for details of the Proposed Internal Reorganisation.