Foreign stake in TNB at record high

23/01/2007

Tenaga Nasional Bhd’s foreign shareholding has risen rapidly to a record high level. A company spokesman told Business Times that the utility’s foreign shareholding stood at 23.08 percent at December 2006. The steep rise in the foreign shareholding of the utility is attributed to three factors, namely an improvement in its profits, its index-linked status on Bursa Malaysia’s trading board and the planned privatisation of Malakoff Bhd. Tenaga is expected to announce its first quarter results this week.