The Financial Daily reported that 1Malaysia Development Bhd (1MDB) is selling all its power assets housed under Edra Global Energy Bhd (Edra) to Chinese-led consortium China General Nuclear Power Corp (CGN Group) for an equity value of RM9.83bn in cash. 1MDB said a share sale and purchase agreement with CGN Group has been executed for the 100% sale of 1MDB’s ultimate ownership of all the energy assets. 1MDB is targeting to complete the transaction by Feb 16. (Source: Financial Daily)
Comments: We are positive on this development, which removes the overhang on TNB as Edra is being sold to the CGN Group, which had put in a bid that was about 20% higher than TNB’s. While our rating on TNB is a HOLD with a TP of RM12.00, we had ascribed a 20% to our DCF-based valuation of RM15.00 over earlier concerns the acquisition of Edra may be value-dilutive to TNB. With the overhang on TNB now removed since CGN Group is taking over Edra, Tenaga would likely rerate to our DCF-based valuation of RM15.00.
Source: Affin Hwang Capital Research - 24 Nov 2015
Chart | Stock Name | Last | Change | Volume |
---|
2024-09-13
TENAGA2024-09-13
TENAGA2024-09-13
TENAGA2024-09-13
TENAGA2024-09-13
TENAGA2024-09-13
TENAGA2024-09-13
TENAGA2024-09-13
TENAGA2024-09-13
TENAGA2024-09-13
TENAGA2024-09-13
TENAGA2024-09-13
TENAGA2024-09-12
TENAGA2024-09-12
TENAGA2024-09-12
TENAGA2024-09-12
TENAGA2024-09-12
TENAGA2024-09-12
TENAGA2024-09-12
TENAGA2024-09-12
TENAGA2024-09-11
TENAGA2024-09-11
TENAGA2024-09-11
TENAGA2024-09-11
TENAGA2024-09-11
TENAGA2024-09-10
TENAGA2024-09-10
TENAGA2024-09-10
TENAGA2024-09-10
TENAGA2024-09-10
TENAGA2024-09-10
TENAGA2024-09-10
TENAGA2024-09-09
TENAGA2024-09-09
TENAGA2024-09-09
TENAGA2024-09-09
TENAGA2024-09-09
TENAGA2024-09-09
TENAGA2024-09-06
TENAGA2024-09-06
TENAGA2024-09-06
TENAGA2024-09-06
TENAGA2024-09-06
TENAGA2024-09-06
TENAGA2024-09-06
TENAGA2024-09-06
TENAGA2024-09-06
TENAGA2024-09-06
TENAGA2024-09-05
TENAGA2024-09-05
TENAGA2024-09-05
TENAGA2024-09-05
TENAGA2024-09-04
TENAGA2024-09-04
TENAGA2024-09-04
TENAGA2024-09-04
TENAGA2024-09-04
TENAGA2024-09-04
TENAGA2024-09-03
TENAGA2024-09-03
TENAGA2024-09-03
TENAGA2024-09-03
TENAGA2024-09-03
TENAGA2024-09-03
TENAGA2024-09-03
TENAGA2024-09-03
TENAGA2024-09-03
TENAGACreated by kltrader | Jan 03, 2023
Created by kltrader | Sep 30, 2022