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Highlights
KLSE : TENAGA       TENAGA NASIONAL BHD
Last Price Today's Change   Day's Range   Trading Volume
11.88   -0.02 (0.17%)  11.78 - 11.90  11,059,400

Active Warrants

Name Type Listing Date Maturity Date Exercise Price Warrant Price Ratio Premium Gearing
TENAGA-C4 Call Warrants 16/05/2013 30/05/2014 7.77 0.82 5 : 1 0.00 (0.00%) 2.897
TENAGA-C5 Call Warrants 19/08/2013 29/08/2014 9.00 0.48 6 : 1 0.00 (0.00%) 4.125
TENAGA-C6 Call Warrants 01/10/2013 30/06/2014 9.50 0.21 12:1 0.14 (1.17%) 4.714
TENAGA-C7 Call Warrants 17/12/2013 15/12/2014 10.50 0.12 16:1 0.54 (4.54%) 6.187
TENAGA-C8 Call Warrants 15/01/2014 30/01/2015 11.50 0.15 8 : 1 0.82 (6.90%) 9.90
TENAGA-C9 Call Warrants 27/01/2014 06/02/2015 11.88 0.08 18:1 1.44 (12.12%) 8.25

Expired Warrants

Name Type Listing Date Maturity Date Exercise Price Ratio
TENAGA-CP Call Warrants 13/05/2010 10/03/2011 6.24 8:1
TENAGA-CS Call Warrants 01/06/2011 29/06/2012 6.00 5 : 1
TENAGA-CT Call Warrants 22/09/2011 28/09/2012 5.30 5 : 1
TENAGA-CU Call Warrants 10/11/2011 10/09/2012 5.60 5:1
TENAGA-CV Call Warrants 22/12/2011 20/12/2012 5.45 5:1
TENAGA-CW Call Warrants 05/04/2012 29/03/2013 7.00 5 : 1
TENAGA-CX Call Warrants 10/08/2012 30/08/2013 6.80 5 : 1
TENAGA-CY Call Warrants 21/09/2012 20/09/2013 6.50 8:1
TENAGA-CZ Call Warrants 26/11/2012 18/11/2013 7.38 12:1
TENAGA-C1 Call Warrants 20/12/2012 31/10/2013 7.20 6:1
TENAGA-C2 Call Warrants 26/12/2012 31/12/2013 6.90 5 : 1
TENAGA-C3 Call Warrants 28/03/2013 31/03/2014 7.10 4 : 1

  8 people like this.
 
mk88 http://www.theedgemalaysia.com/business-news/285092-amresearch-maintains-tenaga-earnings-forecast-tp-after-1mdb-solar-power-deal.html

Amresearch TP 14.90
15/04/2014 10:58
ivankvs 40-46sen/kwh is fixed for 25 years or subject to renew? Any taught?
15/04/2014 11:04
morivae Fixed for 25yr and not subject to any renewal.

It was a good news though as TNB able to secure 50MW at a fixed rate for 25years whereas the TNB charges to consumer is subject for increment on any renewal of rates from the federal government.
16/04/2014 11:50
mk88 the rate seems high but no impact on tnb bottomline. all consumer is charged 1.6% total bill for renewal energy monthly
16/04/2014 11:58
fela .

Buy by AMMB - I don't trust their Valuation... behaving as if they being paid to do "favorable" estimates??

Public Bank is more reliable.
16/04/2014 16:10
john1 Maintain buy with target price of RM14.90: TNB has signed a 25-year power purchase agreement to buy electricity from 1Malaysia Development Bhd’s (1MDB) proposed 50mw solar photovoltaic plant in Kedah, after direct negotiations with the energy, green technology and water ministry, Energy Commission and Sustainable Energy Development Authority Malaysia (Seda).

It was reported that 1MDB’s renewable energy (RE) tariff rates are between 40 sen and 46 sen per kWh, higher than TNB’s recently revised electricity tariff of 40 sen.

As for TNB’s results for the second half ended Feb 28 of financial year 2014 (2HFY14), scheduled to be released on April 24, we expect a sequentially weak quarter due to normalisation of tax rates and a one-month timing delay between the increase in gas costs in January and recognition of the tariff rate hike in February, as already forewarned on Jan 24.

The stock trades at a decent price-to-book value (P/BV) of 1.8 times, which is at the mid-range of adjusted 1.1 times to 2.7 times over the past five years. TNB also offers a decent calendar year 2014 (CY14) price-earnings ratio (PER) of 13 times, compared with the stock’s three-year average band of 10 to 16 times.

We maintain our “buy” call on TNB with an unchanged discounted cash flow-derived fair value of RM14.90 per share, which implies a CY14F PER of 16 times and a

P/BV of 2.4 times.

We maintain TNB’s FY14F to FY16F earnings, which will not be affected by additional payments for RE. — AmResearch, April 15


Theedge
16/04/2014 16:15
fela .

EPF & PNB are the main Players !
They manipulate the Price..... but foreigners hold 21%..... when they unload..... everyone will suffer.
17/04/2014 11:31
Alexofb2b Bro fela, i think both EPF and PNB can absorb the entire 21% dumping of Tenaga shares without any problem....., now it depends what is their buying TP price.........
17/04/2014 11:34
fela .
Bro. Alexofb2b - you are right
however, PNB & EPF need an IRR of at least 12% to cover cost & Dividend payment to contributors.

Next... After PNB & EPF absorbed all the 21% owned by foreigners...... how and who will be buyers when PNB & EPF start selling. For a records.... Tenaga dividends is chicken feeds... were mere 3% per annum....hardly sufficient 9% dividend to ASB and 6.x% to EPF contributors.

Please feel free to comment.

Thanks
17/04/2014 11:47
Alexofb2b Bro fela, agreed.. But i think there shall be another round of Tariff adjustments being sought for Cabinet approvals in June/ August this year.....

The possibility of next Tariff revision near term cannot be ruled out entirely....
17/04/2014 11:54


 

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