KUALA LUMPUR: Shares of TENAGA NASIONAL BHD [] continued to come under selling pressure, sending the power giant to RM5.42, the lowest since April 2009.
At the midday break on Monday, Aug 22, it was down 13 sen to RM5.42.
Tenaga faces hefty fuel costs which could reach an additional RM400 million a month.
Last Friday, Aug 19, the power company announced to Bursa Malaysia that its president and chief executive officer Datuk Seri Che Khalib Mohamad Noh had said the power company would have to incur an additional RM400 million a month to replace the shortfall in gas with the more expensive distillates.
He had said the company might not be able to maintain its dividend payments for the current financial year ending Aug 31, 2011 as it was severely affected by the gas curtailment by Petroliam Nasional Bhd.
At the midday break on Monday, Aug 22, it was down 13 sen to RM5.42.
Tenaga faces hefty fuel costs which could reach an additional RM400 million a month.
Last Friday, Aug 19, the power company announced to Bursa Malaysia that its president and chief executive officer Datuk Seri Che Khalib Mohamad Noh had said the power company would have to incur an additional RM400 million a month to replace the shortfall in gas with the more expensive distillates.
He had said the company might not be able to maintain its dividend payments for the current financial year ending Aug 31, 2011 as it was severely affected by the gas curtailment by Petroliam Nasional Bhd.
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