Bursa Malaysia Stock Watch
Tenaga climbs on talk of higher Q3 earnings
kltrader
Publish date: Wed, 14 Jul 2010, 04:31 PM
kltrader
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Tenaga Nasional Bhd, Malaysia's biggest power producer, rose to its highest level in almost one month on speculation it will today report higher earnings for the third quarter, helped by a rebound in electricity demand.
The stock climbed 1.5 per cent to RM8.61 at 10.10 am local time in Kuala Lumpur, set for its highest close since June 18.
Tenaga has been 'experiencing strong unit demand growth,' ECM Libra Capital Sdn Bhd said in a report today.
Power use grew a 'robust' 10 per cent in the first eight months of the year ending August 31, it said. - Bloomberg
The stock climbed 1.5 per cent to RM8.61 at 10.10 am local time in Kuala Lumpur, set for its highest close since June 18.
Tenaga has been 'experiencing strong unit demand growth,' ECM Libra Capital Sdn Bhd said in a report today.
Power use grew a 'robust' 10 per cent in the first eight months of the year ending August 31, it said. - Bloomberg
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