KUALA LUMPUR: TENAGA NASIONAL BHD []'s share price fell to a new 52-week low of RM5.55 on Friday, Aug 19 after it issued a warning about hefty fuel costs which could reach an additional RM400 million a month.
At the close of market, it was down 18 sen to RM5.55 with13.29 million shares done.
The FBM KLCI fell 19.32 points to 1,483.98. Turnover was 958.90 million shares valued at RM2.18 billion, the highest in many months.'' Declining stocks beat advancers 677 to 127.
TNB 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.
He also TNB needed to replace the shortfall in gas volume by utilising more oil and distillates which are five times more expensive than gas and this has resulted in the company incurring an additional RM400 million a month to replace the shortfall in gas.
'The profit warning was issued as the additional high fuel costs continued to have negative impact on the company's cash flow,' TNB said.
At the close of market, it was down 18 sen to RM5.55 with13.29 million shares done.
The FBM KLCI fell 19.32 points to 1,483.98. Turnover was 958.90 million shares valued at RM2.18 billion, the highest in many months.'' Declining stocks beat advancers 677 to 127.
TNB 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.
He also TNB needed to replace the shortfall in gas volume by utilising more oil and distillates which are five times more expensive than gas and this has resulted in the company incurring an additional RM400 million a month to replace the shortfall in gas.
'The profit warning was issued as the additional high fuel costs continued to have negative impact on the company's cash flow,' TNB said.
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