December 02, 2008

TNB Q2 earning fell by 31% YoY

Malaysian power utility Tenaga Nasional said that its earnings in the Q2 fell 31% to MYR 1.069 billion from MYR 1.574 billion a year ago, due to lower operating profit and decline in foreign exchange translation gains. Tenaga Nasional said that its revenue was however higher at MYR 6.10 billion compared with MYR 5.68 billion a year ago up by 7.3% YoY.

Elaborating on the Q2 revenue, it said this was on the back of higher sales of electricity in Peninsular Malaysia, which rose 8.2% YoY or MYR 154.3million for the commercial segment. As for the domestic segment, its sales rose 7.7% YoY or MYR 67.3 million while for the industrial sectors, sales rose by 5.6% YoY or MYR 126 million.

Tenaga Nasional Berhad is the largest electricity utility in Malaysia with more than MYR 67.0 billion in assets. The Company is listed on the main board of Bursa Malaysia and employs approximately 28,000 people to serve a customer base of over seven million in Peninsular Malaysia and Sabah. TNB plays an integral role in the national, economic and social prosperity of the country by providing reliable and efficient services.