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Old May 9th, 2017, 01:36 PM   #141
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Business News
Home > Business > Business News
Thursday, 4 May 2017
TNB takes 51% of Johor plant
BY S. PUSPADEVI



Quote:
PETALING JAYA: Tenaga Nasional Bhd (TNB) has acquired a 51% stake in SIPP Energy Sdn Bhd’s Johor-based unit Southern Power Generation Sdn Bhd (SPG), a company that was given the nod to build a 1,440 MW power plant in Pasir Gudang, Johor, last September.

The national utility company inked a share sale and purchase agreement (SSPA) with SIPP and a shareholder’s agreement with both SIPP and SPG yesterday to buy the stake for RM51.

TNB said the acquisition was made after it received the Energy Commission and the Government’s approval.

TNB told Bursa Malaysia that by acquiring SPG, it will ensure the completion of the power plant project in Pasir Gudang with its expertise and financial strength.

“The project will increase TNB’s market share and efficiency of asset portfolio generation, which in turn will accelerate our aspiration to become a top-10 global utility firm by 2025.

“The project will be earnings accretive to TNB and its shareholders upon its scheduled commercial operation date (SCOD),” TNB said.

SIPP, a private vehicle owned by the Sultan of Johor, previously held a 100% stake in SPG.

Last September, SPG was finally given the go-ahead by the government to build a 1,440MW power plant costing about RM4.7bil in Pasir Gudang.

SPG will construct, own, operate and maintain the gas-fired combined cycle electricity generating plant.

The project, according to TNB’s filings, is expected to achieve its SCOD on July 1, 2020 and enhance TNB’s capacity generation, apart from having a positive impact on TNB’s earnings.

TNB said the purchase consideration was derived based on the RM100 issued share capital in SPG and that it will use internal funds for the acquisition.

Under the salient terms and conditions of the SSPA, the acquisition consideration shall be paid by TNB to SIPP upon the fulfillment of conditions precedent to the SSPA.

Also, key decisions related to SPG’s business and operations must be conducted with TNB’s consent, pending the completion of conditions precedent as stipulated in the SSPA.

TNB said the aquisition will not have any material effect on TNB’s consolidated net assets per share.

However, the effects on TNB’s future earnings and earnings per share will only be determined upon the completion of the project.

“Estimated project costs are about RM4.7bil and will be financed via a combination of project finance and equity.

“Any debt to be raised will increase TNB’s consolidated gearing, the quantum of which is dependent on the amount borrowed,” TNB explained, adding that it is not expected to have a material impact on its gearing position.

The acquisition is expected to be completed upon the fulfilment of all conditions precedent in the SSPA within 45 days after the execution of the SSPA.

Read more at http://www.thestar.com.my/business/b...YIVI8Jhbe5L.99
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Old May 12th, 2017, 09:35 PM   #142
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Business News
Home > Business > Business News
Friday, 12 May 2017 | MYT 10:49 AM
TNB completes 50% acquisition of Vortex Solar




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KUALA LUMPUR: Tenaga Nasional Berhad has completed the acquisition of a 50% interest in Vortex Solar Investments S.a.r.l. for the acquisition of an operational 365MW solar PV portfolio in the United Kingdom via Vortex Solar UK Limited.

In a filing with Bursa Malaysia Friday, TNB said the acquisition was made via its wholly owned subsidiary, TNB International Sdn. Bhd.

“The acquisition, with an enterprise value of circa 470 million pounds, achieves a key objective of TNB’s five-year international expansion plan to acquire up to 250 MW capacity of renewable energy projects by 2020,” TNB said.

TNB funded the acquisition through a US$750mil sukuk proceeds issued by the company in October last year.

“We are pleased to complete this acquisition which was a rare opportunity to acquire a sizeable solar power business in Britain and helps us deliver the renewable energy (RE) part of TNB’s international expansion plan more than one year ahead of schedule,” CEO Datuk Seri Ir Azman Mohd said in a statement.

“The assets are an excellent investment which are immediately earnings enhancing with 80% of revenue under long term, 15-year power purchase agreements and subsidised by Renewable Obligation Certificates for the next 20 years,” he added.

With the completion of the acquisition, TNB’s international renewable energy portfolio will have a combined net installed capacity of 252 MW following acquisitions in power companies in India and Turkey in 2016.

Read more at http://www.thestar.com.my/business/b...FMiuJrarRYE.99
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Old September 28th, 2017, 09:00 PM   #143
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TNB’s RM6bil Manjung 5 power plant switches on
CORPORATE NEWS
Thursday, 28 Sep 2017



Quote:
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has powered up its RM6bil coal-fired power plant, Manjung 5 at midnight earlier today, three days ahead of its targeted commercial operations date of Oct 1, 2017.

The construction of Manjung 5 in Lumut, Perak took 45 months. The 1,000 megawatt (MW) utilises ultra-supercritical technology, the current gold standard for coal-fired plants in the world.

“We are proud of the hard work the team has done to complete the project ahead of schedule,” TNB vice president of energy ventures Datuk Nor Azman Mufti said in a statement.

TNB said a dedicated team of 88 TNB staff worked on the project since construction started in January 2014. They worked closely with the appointed contractors, a consortium comprising Sumitomo Corporation of Japan and Daelim Industrial Co. Ltd. of Korea.
Read more at http://www.thestar.com.my/business/b...pXtUxut3b7R.99
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Old October 1st, 2017, 02:43 PM   #144
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TNB's subsidiary wins clean coal technology award in Manila
By Bernama - October 1, 2017 @ 6:00pm


Quote:
KUALA LUMPUR: TNB Janamanjung Sdn Bhd, a wholly-owned subsidiary of Tenaga Nasional Berhad (TNB) won an award at the Asean Energy Awards 2017 presented at the recently held 35th Asean Ministers on Energy Meeting (AMEM) in Manila.

The award, under the category of Clean Coal Technology with generation capacity exceeding 500MW, is in recognition of TNB Janamanjung’s adoption of best practices in clean coal use and technology.

With an installed capacity of 3,100 megawatts, TNB Janamanjung is Peninsula Malaysia’s largest independent power producer, TNB said in a statement today.

TNB Janamanjung, comprising four plants, is located on a man-made island in Lumut, Perak.

TNB Janamanjung Managing Director Datuk Shamsul Ahmad received the award from ASEAN Centre of Energy Executive Director Sanjayan Velautham at the SMX Convention Center, Pasay City.

This year’s Asean Coal Award is the second for TNB Janamanjung as it had won a similar award in 2013 in recognition of best practices in corporate responsibility and Publicly Available Specification (PAS) 55 Certification.

The Asean Energy Awards is the 10-member states’ recognising body for best practices in the region’s energy industry development. -- BERNAMA
https://www.nst.com.my/business/2017...y-award-manila
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Old October 11th, 2017, 04:35 PM   #145
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TNB's Subsidiary To Build RM200 Mln Waste Heat Recovery Power Plant
Last update: 11/10/2017

Quote:
KUALA LUMPUR, Oct 11 (Bernama) -- Tenaga Nasional Bhd's (TNB) wholly-owned unit, TNB Repair And Maintenance Sdn Bhd (TNB REMACO), has signed a term sheet agreement with Negeri Sembilan Cement Industries Sdn Bhd (NSCI) to build a RM200 million waste heat recovery power plant (WHRPP).

NSCI is a wholly-owned unit of Cement Industries Malaysia Bhd (CIMA).

TNB in a filing to Bursa Malaysia today said under the agreement, TNB REMACO would develop, design, construct, commission, operate, maintain and raise financing for the WHRPP which would utilise waste heat from NSCI's plants.

"The WHRPP will have a combined power generation capability of 23 Megawatt (MW) by recovering the exhausted waste heat from the cement plants in Bahau, Negeri Sembilan and Bukit Keteri, Perlis with a capability of reducing up to 12 per cent of NSCI's electricity cost," it added.

It said the WHRPP would contribute towards green energy and energy efficiency through reduction of carbon emission, as well as competitive advantage through energy cost savings for NSCI cement plants.....
http://www.bernama.com/bernama/v8/bu...php?id=1399448
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Old March 1st, 2018, 07:19 AM   #146
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TNB completes RM417.75m acquisition of two UK "green" companies
By AYISY YUSOF - March 1, 2018 @ 11:06am
Quote:
KUALA LUMPUR: Tenaga Nasional Bhd’s wholly-owned Tenaga Wind Ventures UK Ltd has completed its acquisition of 80 per cent stake for £77.37 million (RM417.75 million) in two United Kingdom renewable energy companies; GVO Wind Ltd and Bluemerang Capital Ltd.

In an exchange filing today, TNB said the acquisitions were completed through two share purchase agreements with Georg von Opel and Tanzanite B.V. & Catalin Breaban, respectively.

The national utility company said the acquisition will add about 26.1 megawatts (MW), raising its total international renewable energy portfolio of about 280MW.

TNB noted that the two companies own the largest Feed-in Tariff (FiT) wind portfolio in the UK, comprising 53 operational onshore medium wind turbines with a total combined capacity of 26.1MW.

“The purchase of 80 per cent equity is based on the agreed and fixed enterprise value (EV) of £171.23 million (RM924.54 million) for 53 wind turbines.”

It added that the deal is also based on net debt and working capital adjustment at completion.

TNB said the acquisition is part of its Five-Year International Expansion Roadmap and is funded through a combination of internally generated funds and borrowings.

“Acquiring the onshore wind assets is also in line with our strategy on renewable energy (RE) expansion under Reimagining Tenaga strategy to position TNB as one of the top global utility players by 2025.”

TNB intends to grow its RE portfolio to an optimal size via greenfield development or acquiring other RE portfolio of similar or complementary technology.

The company also intends to develop its human capital as part of this acquisition by accelerating the training and exposure of its personnel in RE operations, particularly in wind turbines operations.

“Operating medium sized wind turbines in a developed market will reduce the risks TNB faces in its learning curve to build a compelling RE track record.”

TNB said it will be able to experience first-hand the changes in technology and market trends in a developed economy.

The company noted that the acquisition of an operating wind portfolio is a low risk investment as there is no exposure to planning and construction risk.

“The wind portfolio comprised young assets, with an average age of 2.5 years with an estimated useful life of up to 25 years.

TNB said the average revenue is about £223 per MW hour, significantly higher than the average values of other similar RE support mechanisms across the UK and Europe.
https://www.nst.com.my/business/2018...C2%A0companies
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Old March 12th, 2018, 05:22 AM   #147
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TNB's Large Scale Solar project already 50pct completed
March 11, 2018 @ 3:26pm



File photo of Tenaga Nasional Bhd’s Large Scale Solar (LSS) project at Kuala Langat, Selangor. [NSTP file pix]

Quote:
SEPANG: Tenaga Nasional Bhd (TNB)’s Large Scale Solar (LSS) project has already hit 50 per cent completion.

In a statement, the energy firm said that work is progressing well for the solar plant that is expected to generate 50MW in power.

The works include structure building for the solar panels, and installation of 132kV of fiber optic underground stretching across 10km.

“We have already installed over 238,000 solar panels and we are confident that we will be able to complete the project by the Scheduled Commercial Operation Date on 1st November 2018,” said TNB’s vice president of energy ventures Datuk Nor Azman Mufti.

The LSS project, which started in July 2017, is developed by TNB subsidiary TNB Sepang Solar Sdn Bhd on a 98 hectares land at Mukim Tanjung 12, Kuala Langat, Selangor.

The Engineering, Procurement & Construction (EPC) partner for the project is TNB Engineering Corporation Sdn Bhd.
https://www.nst.com.my/business/2018...0pct-completed
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Old March 20th, 2018, 06:26 AM   #148
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TNB inks 2 large scale solar PPAs
March 19, 2018 @ 9:34pm NST Business

Quote:
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has inked two large-scale solar power purchase agreements (PPAs) with special purpose companies namely TNB Bukit Selambau Solar Sdn Bhd and Gebeng Sdn Bhd.

The PPAs was inked with TNB Bukit Selambau for a facility in Kuala Muda, Kedah and with Gebeng for a facility in Kuantan, Pahang, the national utility company in a filing with Bursa Malaysia.

The two special purpose companies will each design, construct, own, operate and maintain a solar photovoltaic energy generating facility.

TNB Bukit Selambar's plant will have a capacity of 30MWac while Gebeng's is 29.92MWac.

Their scheduled commercial operation date is December 31, 2020 and February 3, 2020, respectively.


"The signing of the PPAs will not have any effect on the issued share capital and the substantial shareholders' shareholdings of TNB and will have a neutral impact on the earnings of TNB over the term of the PPAs," said TNB.

The PPAs follow the award of transmission-connected large-scale solar projects to successful bidders by the Energy Commission after its competitive bidding exercise in the first quarter of 2017.

"The PPAs govern the obligations of the parties to sell and purchase the energy generated by the facility for a period of 21 years from the commercial operation date in accordance with the agreed terms and conditions," TNB said.

In a separate filing, TNB announced a final dividend of 21.41 sen per share for the financial year ended December 31, 2017, payable on April 19.
https://www.nst.com.my/business/2018...ale-solar-ppas
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Old July 31st, 2018, 11:02 AM   #149
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TNB wins National Geospatial Award
By Bernama - July 31, 2018 @ 12:22pm
Quote:
KUALA LUMPUR: The Geospatial Information System (GIS) project of Tenaga Nasional Bhd’s (TNB) distribution division was awarded the Geospatial Excellence Award at the recent 8th National Geospatial Information Symposium.

In a statement today, TNB said the GIS was launched in 2017 to enable the analysis, storage, manipulation and illustration of data in a spatial form on maps, which resulted in a more efficient level of service.

The award was presented by Natural Resources and Environment Secretary-General Datuk Seri Azizan Ahmad
https://www.nst.com.my/business/2018...ospatial-award
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Old August 6th, 2018, 06:41 AM   #150
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Originally Posted by nazrey View Post
Manjung 1, 2, 3 & 4 Power Plant
Extension: Manjung 4 Power Plant

'Manjung 4 plant powered up'
By ZARINA ZAKARIAH - August 6, 2018 @ 9:33am



The RM6 billion ultra-supercritical coal-fired power plant can generate about 1000MW and power up nearly two million households. Pix courtesy of General Electric

Quote:
MANJUNG, PERAK: The Manjung 4 Power Plant, the most efficient coal-based power plant in Southeast Asia, will take centre-stage to meet Malaysia’s energy demand that is expected to double between 2015 and 2040.

The RM6 billion ultra-supercritical coal-fired power plant can generate about 1000MW and power up nearly two million households.

Tenaga Nasional Bhd (TNB) Janamanjung managing director Datuk Shamsul Ahmad said the plant currently supplies about 24 per cent of the country's energy demand in Peninsular Malaysia, and would potentially reduce Malaysia's carbon intensity by 33 per cent.

“The world, and especially Malaysia, requires accessible, reliable and sustainable energy. We are proud to have put up the first ultra supercritical (USC) and largest coal-fired power plant in Southeast Asia.

“Manjung 4 was built in just four years and began commercial operations on April 14, 2015. Using the ultra-supercritical combustion technology, the plant can generate electricity with lower emissions as it is 10 percentage points more efficient than the global average coal-fired power plants.

“Each additional percentage point in efficiency reduces carbon dioxide emissions by 2 per cent and additional efficiency also lowers plant operating overall lifecycle costs,” he said in the first briefing on the plant to local and international media here recently.

General Electric Co (GE) was the EPC contractor for the power plant together with its consortium partner CMC Engineering.

During operations, Manjung 4 has met or exceeded original performance commitments to deliver more value to TNB by way of extremely high availability, particularly during second year of operation, achieving 94.5 per cent availability in the first two years.

“With more efficient power generation (elevating the efficiency of the plant to 40 per cent and usage of coal will be reduced by about 3 per cent), we ensure that the cost of generating electricity is minimised and remains friendly to the environment and communities,” added Shamsul.

Manjung 4 has benefitted from minimised unplanned downtime with an unplanned outage rate of only 2.4 per cent as at end August 2017 compared to the world standard at 4 per cent.

“We are aware of the need to sustain the environment we are in, and we will do our best to safeguard and sustain it. The use of USC technology enables Manjung 4 to convert energy more efficiently, burning less coal for more power while complying with emission standards,” said Shamsul.
https://www.nst.com.my/business/2018...-plant-powered
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Old September 15th, 2018, 10:41 AM   #151
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BMW Malaysia delivers a fleet of BMW 530e Sport for CEPSI 2018 to TNB
By NST Business - September 13, 2018 @ 3:45pm



BMW Group Malaysia managing director and chief executive officer Harald Hoelzl (left) handed over BMW 530E Sport cars to Tenaga Nasional Bhd’s (TNB) chief corporate officer and AESIEAP 2017/2018 secretary general Datuk Wira Roslan Ab Rahman at TNB Headquarters in Bangsar, here, today. The BMW-sponsored cars are to be utilised at the upcoming Conference of the Electric Power Supply Industry (CEPSI) 2018.
Quote:
KUALA LUMPUR: BMW Malaysia has handed over a fleet of BMW 5 Series Hybrid with eDrive technology to Tenaga Nasional Bhd (TNB) for use at the Conference of the Electric Power Supply Industry (CEPSI) 2018.

BMW Malaysia said the fleet would be the official cars at the landmark conference, taking place from September 17 to 22 September at the Kuala Lumpur Convention Centre.

TNB is hosting CEPSI 2018 on behalf of The Association of Electricity Supply Industry of East Asia and the Western Pacific (AESIEAP).

The cars were handed over by BMW Group Malaysia managing director and chief executive officer Harald Hoelzl to TNB chief corporate officer and AESIEAP 2017/2018 secretary general Datuk Wira Roslan Ab Rahman at TNB headquarters here today.

Hoelzl said the collaboration signified BMW Malaysia’s intention in being a key partner in transforming the local Electro Mobility industry and the country’s ambition in sustainable development.

“We look forward in exchanging our industry-leading expertise and insights as well as gain knowledge from the many thought leaders at CEPSI to shape a better Malaysia,” he said in a statement today.

Roslan said the cars would shuttle VVIPs and AESIEAP executive council members throughout the five-day conference.

“This e-mobility partnership is the first of its kind for CEPSI since its inception in 1976 in Hong Kong.

“The partnership is timely as electric vehicles are generating a revolution in transportation across the globe,” he added.

Roslan said TNB’s wholly owned TNB Energy Services Sdn Bhd was collaborating with Malaysian Green Technology Corp to deliver an integrated service to electric vehicle owners in Malaysia.

With the conference themed “Reimagining the Utility of the Future”, BMW will be sharing its thoughts on the Mobility of the Future courtesy of Dr. Alexander Kotouc, head of BMW i product management, who is a keynote speaker at the event.

As the official e-mobility partner, the German automaker will also be unveiling a new model from its BMW i portfolio.

Hoelzl said the conference would be an opportunity for the automaker to share a truly progressive model from its portfolio of visionary mobility.

“The new vehicle exemplifies how cutting-edge engineering and human-focused design as well as aesthetics can push the boundaries reimagining the future which is the theme of CEPSI this year,” he said.
https://www.nst.com.my/business/2018...cepsi-2018-tnb
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Old April 30th, 2019, 11:28 AM   #152
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TNB ready to venture into fibre optic infrastructure business
Bernama April 29, 2019 12:23 pm +08

Quote:
KUALA LUMPUR (April 29): Tenaga Nasional Bhd (TNB) is prepared to venture into the connectivity business that provides fibre optic infrastructure for high speed broadband (HSBB), following the successful National Fiberisation and Connectivity Plan (NFCP) pilot project in Jasin, Melaka.

Chairman Tan Sri Leo Moggie said TNB saw the connectivity business’ potential and is cautiously considering venturing into the area.

“We would be quite prepared to participate in a measured way in selected areas for this connectivity initiative for broadband speed.

“The outcome in Jasin showed that as long as we do not allow third party access beyond a certain point of our grid infrastructure, we are quite comfortable that the security is assured,” he told Bernama in an interview.

He said based on the pilot test, support from the government would be needed if the company wanted to roll out fibre optic infrastructure in rural areas due to the substantial investment required.

“If we want to go into areas similar to that (Jasin), we will need to engage with the government,” he added.

However, he said the company saw pockets of urban areas which lacked high speed Internet access, where TNB could play a role without burdening the government.

Apart from that, he said, as a public listed company, TNB needed to consider the returns from its investments in the connectivity business.

“If we were to participate in this, it should make business sense to TNB,” he said.

As the business required slightly different expertise from its core business of providing electricity, he said, the company also needed to consider human resources capability to manage it.

The NFCP pilot project enabled three residential areas comprising 1,100 households to enjoy Internet speed that reached 1Gbps at an affordable price via broadband service packages offered by the existing eight service providers.

In another development, Moggie said TNB was transforming its headquarters in Bangsar into a campus-type headquarters equipped with an Islamic centre, convention centre, society office and an interactive centre.

He said the new headquarters would have a campus-type atmosphere, including a park for its staff.

“The concept is to reflect what the younger generation would expect going forward,” he said.

The new headquarters would be a green building index (GBI) certified building with a Platinum GBI rating, equipped with solar panel rooftops, automated waste collection system, double-glazed glazing wall, green roof and rainwater harvesting system, among others.

The headquarters is expected to be completed by May 19, 2021, and the Islamic centre on May 31 this year.
https://www.theedgemarkets.com/artic...cture-business
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Old May 5th, 2019, 05:40 PM   #153
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Malakoff subsidiary signs 21-year renewable energy PPA with TNB
https://www.theedgemarkets.com/artic...energy-ppa-tnb
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Old May 18th, 2019, 10:02 PM   #154
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TNB: Fibre optics business to start contributing in 2020
Justin Lim/The Edge Financial Daily May 15, 2019 09:08 am +08



(From left) Amir Hamzah, TNB chairman Tan Sri Leo Moggie and Nazmi at TNB’s annual general meeting in Kuala Lumpur yesterday. Photo by Shahrin Yahya
Quote:
KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is expecting its connectivity business that provides fibre optic infrastructure for high-speed broadband (HSBB) to start contributing to earnings by next year, following its successful pilot project in Melaka, according to chief executive officer (CEO) Amir Hamzah Azizan.

The Melaka project involved 1,100 homes in Jasin and was implemented under the government’s RM1 billion National Fiberisation and Connectivity Plan initiative announced in Budget 2019.

“Earnings (from the new business) should be coming in from next year onwards,” said Amir Hamzah, adding that the group is looking at any commercially viable places for the expansion of the new business.

Amir Hamzah, who was appointed TNB CEO in early April, said the utility giant’s new business is based on a wholesale model and the plan to expand this business has received support from the group’s board members and shareholders.

“It is important to realise that the expansion of the fiberisation journey may take a bit longer, but the recurring earnings we can get from this wholesale business are like our utility business. We invest in the infrastructure and we [get the] yield over the years to come,” he told reporters after the group’s annual general meeting yesterday.

“What we are doing is we maximise the opportunity [of this business] by opening new areas, based on [our] connectivity capability. This (the pilot project in Jasin) was worked on with the Malaysian Communications and Multimedia Commission (MCMC), and they welcomed our participation as the penetration of fibre (network) in our country is not high enough.

“With TNB coming into the [fibre optic infrastructure] space, both TNB and MCMC believe this will help expand fiberisation in Malaysia,” Amir Hamzah added.


Plans to spend up to RM9.5b on capex this year

TNB has earmarked a capital expenditure (capex) of between RM9 billion and RM9.5 billion for the current financial year ending Dec 31, 2019 (FY19).

Of the total capex, RM6 billion will be used for its grid division and RM2.5 billion will be allocated to its generation division, with the latter mainly to cater to the Jimah East Power Plant and the Southern Power Generation Pasir Gudang plant, according to TNB chief financial officer Nazmi Othman, who was also present at the press conference.

The remainder will be used for its renewable energy and smart metering expansion, Nazmi added.

Meanwhile, the group is planning to roll out smart meters in the Klang Valley this year and is now engaging with service providers who are able to deliver and instal the number of smart meters that TNB needs.

According to its annual report 2018, TNB has completed the implementation of 190,000 smart meters in Melaka. For 2019, the installation programme will expand beyond Melaka with a focus on homes and businesses in the Klang Valley.

Amir Hamzah said the smart meters offer customers more transparency in terms of their consumption throughout the day, and allows TNB to offer more services that will benefit both parties in the long run.

TNB shares rose 0.51% or six sen to close at RM11.80 yesterday, valuing it at RM67.11 billion, after some 9.08 million shares changed hands. The stock has retreated 23.44% over the past one year.
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Old May 19th, 2019, 10:34 AM   #155
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Originally Posted by nazrey View Post


2019 Global 1000 companies
378 Maybank
612 Tenaga Nasional
644 Public Bank
659 CIMB Group Holdings


https://www.forbes.com/global2000/li...untry:Malaysia
TNB has game plan to make it to the world's top 10 utility companies by 2025
Adam Aziz May 18, 2019 09:07 am +08
Quote:
KUALA LUMPUR (May 18): For 52-year-old Amir Hamzah Azizan, it is an interesting time to be president and group CEO of national utility firm Tenaga Nasional Bhd (TNB).

The power sector operating landscape is undergoing reforms, from the opening up of the retail market to tighter tariff margins and a trend towards green energy in the power generation mix.

Emphasising on the need to address the impending landscape transformation, Amir also speaks of “understanding Tenaga’s game plan well” in his first few weeks on the job.

The 70-year-old company aims to be among the top 10 utility companies in the world by 2025, under the strategic transformation plan 'Reimagining TNB'.

To facilitate growth, the group is venturing into new yet familiar areas. Among others, it eyes a bigger renewable energy portfolio both locally and overseas, and seeks to capitalise its fibre optic network spanning over 16,000km along its power grid in the country.

But the more difficult task for Amir is laid out in Tenaga’s journey for greater efficiency and transparency within the group.

“We are looking at corporatisation, improving the line of sight, to improve the focus on various areas as part and parcel of evolving Tenaga to address the changes in the landscape,” Amir says.

As Tenaga finds itself intertwined in the national ambition in the power sector — and perhaps the telco sector soon — Amir will have to strike a balance between the group’s social and corporate agenda.

Where does TNB stand amid the impending industry reform? What other industry changes can be expected? What is TNB's action plan?

Grab a copy of The Edge Weekly this week (May 20-24, 2019) to find out more about Amir’s take on Tenaga, and the utility group’s journey moving forward.

Save by subscribing to us for your print and/or digital copy.
https://www.theedgemarkets.com/artic...companies-2025
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Old May 19th, 2019, 10:48 AM   #156
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TOP WORLD'S LARGEST ELECTRIC UTILITIES COMPANIES
Asia & Malaysia

77 Enel Italy
145 Iberdrola Spain
183 Duke Energy United States
193 NextEra Energy United States
202 Exelon United States
215 Southern Company United States
227 ENGIE France
241 National Grid United Kingdom
263 E.ON Germany
269 EDF France
290 Dominion Resources United States
317 American Electric United States
414 Tokyo Electric Power Japan
434 China Yangtze Power China

448 Consolidated Edison United States
490 Xcel Energy United States
492 NTPC India
504 Public Service Enterprise Group United States
510 Kansai Electric Power Japan
518 CLP Holdings Hong Kong

526 DTE Energy United States
568 PPL United States
578 Saudi Electricity Saudi Arabia
586 FirstEnergy United States
588 Korea Electric Power South Korea
604 Entergy United States
612 Tenaga Nasional Malaysia
626 RWE Group Germany
629 Eversource Energy United States
633 Edp-energias De Portugal Portugal
653 WEC Energy Group United States
657 Eletrobrás Brazil
675 CGN Power China
681 Chubu Electric Power Japan

693 AES United States
710 Uniper Germany
746 Huaneng Power International China
767 ROSSETI Russia
771 Fortis (Canada) Canada
778 Edison International United States
797 SSE United Kingdom
809 EnBW-Energie Baden Germany
814 PG&E United States
823 Fortum Finland
854 Ameren United States
865 Power Grid of India India
893 China National Nuclear Power China
923 CMS Energy United States
931 Snam Italy
943 Origin Energy Australia
964 CEZ Group Czech Republic
986 CenterPoint Energy United States
...


https://www.forbes.com/global2000/li...ic%20Utilities
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Old May 19th, 2019, 10:49 AM   #157
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TNB sees potential investments in Turkey, Pakistan and India
By Zarina Zakariah - May 14, 2019 @ 6:42pm
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KUALA LUMPUR: Tenaga Nasional Bhd (TNB) will not make any decisions on its investments in Turkey, Pakistan and India as it still sees potential in the three investments.

For now, the national utility company is working on focusing and strengthening its position in the countries before deciding on whether to dispose or maintain the businesses.

"Last year, we faced challenges in impairments and TNB took a very serious look at the conditions of the investments and taken a prudent position. And I believe we have probably taken the bulk of the impairments.

"In terms of foreign exchange (forex), we will continue to look at means to hedge if possible, and other forms of mitigation to manage us through.

"The management has also been working hard to ensure the business models in those countries is on a good footing and work is ongoing with business partners in those areas,” TNB chief executive officer Amir Hamzah told the media after the annual general meeting was held here, today.

On its investment in Turkey, Amir said TNB continue to see good long-term potential in the asset despite facing some financial challenges of late.

"Electricity demand in Turkey is expected to rise and if you look at the portfolio that we have in Turkish-based Gama Enerji AS, the asset itself is good in terms of generation plant quality and water concession than the one we have in Jordan.

"The key challenge is to manage the current cycle and that is where the management's attention is at this point of time," he said.

It has been previously reported that Gama Holding, Gama Enerji’s major shareholder, has been looking to restructure US$1 billion worth of debt while Gama Enerji is looking to refinance a US$500 million loan it took to construct a gas power plant in 2013.

Both Gama Holding and Gama Enerji are private companies, but Gama Enerji has been reported to be Gama Holding’s largest asset.

Touching on India, Amir said investments there has always shown good potential for growth and will continue to intensify utilisation of electricity in the country.

"We see some growth in the entity that we have through the projects that they develop while managing regulatory challenges there.

"For Pakistan, it is part and parcel of the normal portfolio review that we carry out from time to time,” he said.

Asked on whether TNB is looking to dispose any of these assets in the future, Amir reiterated that strengthening the respective businesses will be the ultimate focus for now.

In February, TNB reported its first quarterly loss after posting higher operating cost and increased impairment of financial instruments for more than seven years.

Net losses in the three-month ended December 31, 2018, was at RM134 million while operating profit in the fourth quarter fell to RM697 million compared with RM1.47 billion registered in the preceding quarter on lower revenue and increase in impairment of financial instruments.

However, it was learnt that the national utility company is looking for buyers for the said entities although no firm negotiations are underway yet.

This was said to be part of the review the company had carried out in order to mitigate the impact of its international businesses which caused impairments of RM487.3 million in 2018 against RM163.4 million the previous year.
https://www.nst.com.my/business/2019...stan-and-india
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Old August 2nd, 2019, 12:05 PM   #158
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TNB getting ready for open market
By NST Business - August 1, 2019 @ 3:35pm
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KUALA LUMPUR: Tenaga Nasional Bhd’s internal restructuring to split its power generation and retail businesses into RetailCo and GenCo could lead to two separate listing entities under the two segments.

Kenanga Research said the restructuring may also pave the way for market reforms that will see new players in the electricity supply industry.

TNB on Monday announced that it would set up two new wholly-owned subsidiaries to house the domestic power generation business (GenCo) and the electricity retail business (RetailCo).

The structure for the remaining businesses such as transmission and distribution network, international business and corporate centre remains unchanged at the group level.

The reorganisation is expected to be completed by September this year.

It was to prepare for the upcoming reforms in the electricity supply industry with the government expected to reveal the Malaysia Electricity Supply Industry 2.0 next month, Kenanga Research said.

“As the retail business is highly anticipated to open up for new comers, RetailCo is prepared to improve efficiency to increase customer collection rate, which is currently slightly less than one sen per kiloWatt hour (kWh).

“At the same time, it will involve rooftop solar generation as well as pushing beyond energy offerings such as multi-utility bundling and billing, Fibre-to-the-Home broadband, or sales of third parties’ products,” the firm said in a report.

Meanwhile, GenCo is aiming to improve renewable energy generation through participation in large scale solar scheme, besides conventional capacity.

Kenanga Research said for assets size indication, the pro-forma financial year 20F18 book value for RetailCo was RM1.84 billion against the group’s book value of RM59.05 billion while GenCo had a book value of RM12.14 billion.

The firm maintained that the fears of open competition against TNB was overplayed given that RetailCo would only contribute less than three per cent to group earnings.

“Contributions from these two entities are fairly small for the moment, with RetailCo’s earnings before interest and taxation (EBIT) of RM200 million only making up less than three per cent of the group’s FY18 EBIT of RM6.7 billion, while GenCo’s RM1.6 billion accounted for 5.4 per cent of group earnings.”

Kenanga Research added that TNB had targeted EBIT of RM13.0 billion by 2025 with RetailCo earnings growing to RM700 million and GenCo to RM2.6 billion.
https://www.nst.com.my/business/2019...dy-open-market
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Old August 2nd, 2019, 12:06 PM   #159
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TNB incorporates two subsidiaries as private companies
By NST Business - August 1, 2019 @ 8:11pm
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KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has today incorporated two wholly-owned subsidiaries, TNB Power Generation Sdn Bhd (GenCo) and TNB Retail Sdn Bhd (RetailCo) under the Companies Act 2016 (Act) as private limited companies.

In an exchange filing today, TNB said the Incorporation would facilitate the proposed internal reorganisation.

“The board, having considered all aspects of the Incorporation, is of the opinion that the incorporation is in the best interest of the company,” it said.

The utility company said the Incorporation was not expected to have a material impact on its net assets and gearing and its subsidiaries as well as the earnings of the group and earnings per share in TNB for the financial year ending December 31, 2019.

It added the incorporation was not expected to have any effect on the share capital and shareholdings of the substantial shareholders of TNB.

The incorporation of Genco involved the issuance of share capital of RM2.00 comprising two ordinary shares.

TNB also named Nazmi Othman, Datuk Fazlur Rahman Zainuddin and Datuk Ir. Sharuddin Mohd Simin as GenCo directors.

GenCo’s principal activities are the ownership, management and operation of the domestic power plants, renewable energy generation business, power plant operation and maintenance business, and dry bulk terminal operations business.

Meanwhile, RetailCo also issued share capital of RM2.00 comprising two ordinary shares, with the appointment of directors including Nazmi Othman, Datuk Fazlur Rahman Zainuddin and Datuk Ir. Sharuddin bin Mohd Simin.

RetailCo’s principal activities include the sale of electricity to customers, collection of revenues from customers, the provision of customer services, operation of call management centres, green energy solution services and beyond the meter solution services.
https://www.nst.com.my/business/2019...vate-companies
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Old August 22nd, 2019, 06:50 PM   #160
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Tenaga Nasional 2Q net profit of RM2.06b expected
Bloomberg / Dow Jones Newswires August 22, 2019 15:38 pm +08
Quote:
KUALA LUMPUR (Aug 22): Tenaga Nasional Bhd, Malaysia's electricity utility, is scheduled to report results for the second quarter on Aug 30. Here's what you need to know:

EARNINGS FORECAST: Tenaga is likely to post net profit of RM2.06 billion ($493 million) in the April-June period, according to a consensus estimate compiled by FactSet. That compares with net profit of RM1.24 billion a year earlier.

REVENUE FORECAST: Revenue of RM12.96 billion is expected, according to a consensus estimate compiled by FactSet, compared with RM12.5 billion a year earlier.

WHAT TO WATCH:

REORGANIZATION: Tenaga earlier this month announced an internal reorganization involving the transfer of its domestic power-generation and retail-electricity businesses to two new wholly-owned subsidiaries. Investors will watch for how this reorganization can propel further growth.

LIBERALIZATION: Malaysia's electricity industry is set to be transformed as part of the government's plans to encourage competition along the value chain, increase use of renewable energy and improve consumer choices. Although big steps toward market liberalization have not been taken, investors will look for hints about how this plan will affect Tenaga, which currently has a monopoly in the industry.

FIBRE: Tenaga is expanding into the connectivity business, to provide fibre-optic infrastructure for high-speed internet connections, following its successful pilot project in the state of Malacca. Attention should be paid to how this expansion will contribute to Tenaga's future earnings and its plans to fight off competitions from the likes of Telekom Malaysia.
https://www.theedgemarkets.com/artic...6-bln-expected
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