KUALA LUMPUR: TENAGA NASIONAL BHD [] (TNB) expects to post better results for the current financial year as the ringgit's appreciation has helped better manage coal cost.
Its president/chief executive officer, Datuk Seri Che Khalib Mohamad Noh, said the stronger ringgit has helped offset some of the effects of rising coal prices which were quoted in US dollar.
"Coal prices are quite stable now. In terms of ringgit per tonne, the prices remain the same as what they were in 2009," he told a media briefing after the launch of the three-month energy-efficiency contest here on Friday, Oct 1.
TNB reported a pre-tax profit of RM1.286 billion for the third quarter ended May 31, 2010 from RM1.240 billion in the same quarter of last year.
Revenue rose by 10.3% to RM7.723 billion from RM7.001 billion previously.'' The higher revenue was mainly due to an increase in the sales of electricity in Peninsular Malaysia, which improved by 12.1%.
For the nine-month period, its pre-tax profit rose to RM3.522 billion from RM1.283 billion in the same period last year.'' Revenue rose to RM22.45 billion from RM21.323 billion respectively.
Che Khalib said TNB, which has been awarded the first block of 1,000-megawatt coal-fired power plant in Manjung, would bid for the second block if invited by the authority.
"The government has not called for the tender yet. It has engaged a consultant to prepare the tender documents," he said.
He said TNB hoped the government would consider tax incentives or tax breaks for installing green TECHNOLOGY [], like solar panels, under Budget 2011.
He said this initiative would reduce the overall installation cost and encourage more people to use renewable energy.
"This is something we would like to see. I think the government will put more initiatives for green energy in the Budget," he said.
Prime Minister Datuk Seri Najib Razak will deliver the Budget 2011 proposals on Oct 15. - Bernama
Its president/chief executive officer, Datuk Seri Che Khalib Mohamad Noh, said the stronger ringgit has helped offset some of the effects of rising coal prices which were quoted in US dollar.
"Coal prices are quite stable now. In terms of ringgit per tonne, the prices remain the same as what they were in 2009," he told a media briefing after the launch of the three-month energy-efficiency contest here on Friday, Oct 1.
TNB reported a pre-tax profit of RM1.286 billion for the third quarter ended May 31, 2010 from RM1.240 billion in the same quarter of last year.
Revenue rose by 10.3% to RM7.723 billion from RM7.001 billion previously.'' The higher revenue was mainly due to an increase in the sales of electricity in Peninsular Malaysia, which improved by 12.1%.
For the nine-month period, its pre-tax profit rose to RM3.522 billion from RM1.283 billion in the same period last year.'' Revenue rose to RM22.45 billion from RM21.323 billion respectively.
Che Khalib said TNB, which has been awarded the first block of 1,000-megawatt coal-fired power plant in Manjung, would bid for the second block if invited by the authority.
"The government has not called for the tender yet. It has engaged a consultant to prepare the tender documents," he said.
He said TNB hoped the government would consider tax incentives or tax breaks for installing green TECHNOLOGY [], like solar panels, under Budget 2011.
He said this initiative would reduce the overall installation cost and encourage more people to use renewable energy.
"This is something we would like to see. I think the government will put more initiatives for green energy in the Budget," he said.
Prime Minister Datuk Seri Najib Razak will deliver the Budget 2011 proposals on Oct 15. - Bernama
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