TNB invested record high CAPEX of RM10.0 billion on the back of RM6.4 billion net profit
Tenaga Nasional Berhad (TNB) today announced a Profit After Tax of RM6.4 billion for the full Financial Year ended 31st August 2014 (FY2014) as compared to RM5.4 billion reported in the last Financial Year (FY2013). This reflected an increase of RM1.0 billion in Profit After Tax, of which 56.4% of the increase was attributed to reduction in corporate tax rate and write-back of provision for a subsidiary, which are non-recurring items, recognised in FY2014.
In this financial year, the Group invested a historical high capex of RM10.0 billion as compared to RM8.5 billion invested last year. Commenting on the high capex, TNB’s President / Chief Executive Officer, Datuk Seri Ir. Azman Mohd explained that “out of the RM10.0 billion invested on capex in this financial year, RM4.9 billion or 48.9% was mainly for system maintenance and improvement to ensure system efficiency, security and reliability.
Summary of highlights:
Full Year FY2014
• Profit After Tax of RM6.4 billion (FY2013 : RM5.4 billion) • CAPEX of RM10.0 billion (FY2013 : RM8.5 billion) • Operating Expenses increased 13.9% against 15.2% increase in Group Revenue • 2.5% unit electricity demand growth in Peninsular Malaysia (FY2013 : 3.8%) • Average Coal Price of USD75.4/mt (FY2013: USD83.6/mt) • SAIDI fell to 55.0 (FY2013 : 64.2)
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