APA TRIK KALI NI..????
"Electricity rates expected to rise 4.9pc
Stage set for Malaysia's electricity rate hike
Electricity rates set to go up"
Tenaga Q3 net profit triples on forex boost
KUALA LUMPUR, July 22 — Malaysia’s largest power producer Tenaga Nasional reported today a tripling of net profit in the third quarter, boosted by forex translation gains, but expects performance for the full year to be satisfactory.
Tenaga, which generates more than two-thirds of the country’s electricity needs, reported a third-quarter net profit of RM1.02 billion compared with 298.8 million ringgit in the year-ago period.
It made forex gains of RM603.2 million due to the strength of the currency during the third quarter, but excluding these, net profit was lower as a result of a significant increase in coal generation costs.
“In the third quarter, we were faced with several incidences of gas curtailment and had to increase the output from coal-fired generations,” said Datuk Che Khalib Mohamad Noh, Tenaga’s chief executive officer.
Tenaga secured coal at US$79.9 per metric tonne in the third quarter, down from US$85.8 in the second quarter, but Che Khalib said the price was still higher than what the company is allowed to pass through to consumers.
The price of coal is expected to average US$90-US$95 per tonne for the full year, he said.
Analysts in Malaysia do not forecast quarterly earnings.
On average, 19 analysts polled by Thomson First Call before the earnings release expected Tenaga to earn RM2.27 billion in net profit for the full year.
The continued slowdown in economic activity, resulting in lower exports for the industrial sector, would lead to weak electricity demand in the near term, Tenaga said.
Tenaga shares closed unchanged at RM8.40 today against a rise of 1.23 percent in the benchmark index but have gained 34 per cent since the beginning of this year. — Reuters
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