Semalam, TNB melaporkan kerajaan PH telah meluluskan lagi kenaikan surcaj untuk semua kedai, peruncit pengilang, pejabat dan industri.

Surcaj untuk pengguna bukan domestik akan naik lagi dari 1.35 sen kepada 2.55 sen setiap kWj bermula bulan Mac tahun depan.

Bermula dari Mac 2019, bil elektrik untuk perniagaan dan industri akan naik 9.64 peratus berbanding tarif sebelum PRU14.

“Minggu lepas, kerajaan PH juga telah mengumumkan bahawa subsidi untuk petrol RON95 dan disel akan ditarik dan harga akan diapung semula bermula bulan April tahun d

Over the last one year, TNB's share price had declined to current levels from its highest at RM16.12, which was recorded on May 4, 2018.

On Monday (April 9, 2019), AmInvestment Bank Bhd analyst Gan Huey Ling wrote in a note that AmInvestment lowered its fair value for TNB shares to RM13.50 from RM14.55 previously after revising the government-controlled utility's terminal growth rate from 2.5% to 2%, to account for subdued long-term growth prospects.

Khazanah offload quite a load of shares

Take into account your medical coverage in case of poor health after retirement

Bila murah senyap senyap collect

To address concerns around Tenaga Nasional’s (Tenaga) regulatory environment, namely the Malaysian Energy Supply Industry (MESI) 2.0 reforms, Macquarie Equities Research (MQ Research) hosted a conference call for investors with Tenaga senior management. MQ Research reiterates its Outperform rating on Tenaga with a target price of RM15.80.

Conclusion
MQ Research reiterates its Outperform recommendation on Tenaga following a conference call it hosted for investors with Tenaga’s senior management, to address recent shareholder concerns around the regulatory environment. In summary, it does not appear that MESI 2.0 reforms will significantly change the returns of Tenaga as perceived by the market. MQ Research sees current valuations at 11x 20E Core price to earnings ratio (PER) and a 5% dividend yield as attractive.
Impact
Shareholder value protected by MESI 2.0. While details of MESI 2.0 are only expected to be announced in mid-2019, parties working on it have amongst its five pillars the need to sustain returns to stakeholders who ultimately will fund the sector. Against this backdrop, significant changes in returns to shareholders should not be expected. For Tenaga, the move from Regulatory Period 1 (RP1) to RP2 saw a 0.2ppt reduction in its Regulated Returns from 7.5% to 7.3%, and for PR3 which takes effect in 2021, there is no reason to expect a significant shift in this glide path. It was also unlikely that the principles of the IBR/ICPT would be broken in light of buoyant fuel prices.
Retail competition risks overblown? Management felt that while the regulatory framework under RP2 allowed for retail competition, the lack of excess generation capacity, ie plants not on PPAs, coupled with the low returns, may limit its attractiveness for some time yet.
MFRS16 impact. Management confirmed that MFRS16 will negatively impact Tenaga’s FY19 earnings by c.RM300m as articulated during the 4Q results briefing. There will be no cashflow impact. MQ Research’s estimates have not accounted for MRFS16.
Broadband won’t change capex profile. Management confirmed that should Tenaga venture into the broadband space, the plan would be to stay a wholesale player. All plans currently are based on rollouts in areas without existing infrastructure. And, most importantly, the plans must make commercial sense.
Earning and Target Price Revision
No change.
Price Catalyst
12-month price target: RM15.80 based on a PER methodology.
Catalyst: Tariff announcement in May 2019.
Action and Recommendation
Outperform reiterated.
12-month Target Price Methodology
TNB MK: RM15.80 based on a PER methodology
Source: Macquarie Research - 2 May 2019

Jangan khuatir - beli bila ada uptrend

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is excited over growth prospects that will see it delivering even better services, catalysing new market growth by unlocking the value of network assets and improving sustainable value for its stakeholders, says chairman Tan Sri Leo Moggie.

“We see this as part of our unwavering commitment and contribution to realise the nation’s ambitions,” he said in TNB’s financial year 2018 (FY2018) integrated annual report, which also detailed much of the power utility’s progress over the past 70 years.

Through the strategic efforts initiated under its Reimagining TNB (2017-2025) blueprint, Moggie said TNB continued to register revenue growth and healthy profits, fostered by a conducive regulatory environment.

TNB’s group revenue grew 6.3 per cent from FY2017 to RM50.39 billion for the year ended Dec 31, 2018, driven mainly by higher electricity demand which peaked in August 2018 to 18,338 megawatts, a rise of 3.1 per cent over FY2017.

Net profit for FY2018 was lower at RM3.75 billion compared to RM6.91 billion in FY2017, mainly due to regulatory adjustment as a result of regulatory changes in the Second Regulatory Period (RP2) (2018-2020), impairment, and foreign exchange translation.

Electricity demand continued its positive momentum in FY2018, with annual electricity sales increasing 1.4 percentage points than initially projected under the RP2 of the Incentive Based Regulation (IBR) framework.

Moggie said the sustainable ecosystem afforded by the IBR framework and the Imbalance Cost Pass-Through (ICPT) mechanism implemented in the last four years by the Energy Commission had resulted in Malaysia having one of the most reliable energy networks in the region that was on par with other advanced countries.

By taking a proactive and forward-looking approach, he said TNB had undertaken preparatory works to gear itself for the Third Regulatory Period (RP3) (2021-2023) and it was expected to submit its IBR RP3 proposal by December this year.

With constant technology disruptions affecting the industry, Moggie said TNB, which recorded a commendable 99.97 per cent system availability in 2018, believed that it was important for the Malaysia Electricity Supply Industry (MESI) to be prepared for the oncoming fundamental shifts impacting the global electricity industry.

Saying that the government’s timely reform efforts through MESI 2.0 was a key step to prepare the industry ahead of global trends, he said there was a rising need to future-proof Malaysia’s industry structure and regulations, and to empower consumers to make smarter choices in a more democratised and decentralised setting.

Having anticipated these market-wide reforms, he said TNB had launched its strategic plan under Reimagining TNB by putting in place a solid foundation and transforming its internal processes and structure to enable the power utility to be more technologically-advanced and cost-optimised compared to four years ago.

As electricity demand continues to increase in Peninsular Malaysia, TNB has been building a 500kV Grid Superhighway costing RM2 billion since 2015.

The 500kV Grid Superhighway, expected to be ready next year, will enable adequate and safe power transfer from other regions into TNB’s Central Area of Peninsular Malaysia, which accounts for about 45 per cent of the entire peninsula’s electricity demand.

The grid network will function as the backbone of TNB’s electricity supply chain, transporting bulk electricity from power generators to the distribution network to brighten homes, offices and commercial spaces, while supplying directly to industries for manufacturing.

In terms of dividend payout, Moggie said TNB remained committed to creating long-term value for shareholders by consistently delivering optimum dividends for each financial year.

For FY2018, TNB had approved a single-tier interim dividend of 30.3 sen per ordinary share amounting to a dividend payout of RM1.72 billion (paid in October 2018) and a final single-tier dividend of 23.0 sen per ordinary share amounting to a dividend payout of RM1.31 billion.

With this, TNB’s total dividend in FY2018 amounted to 53.3 sen per ordinary share at a total value of RM3.03 billion. The dividend payout was equivalent to 55.8 per cent of the adjusted group profit after tax and minority interests (PATAMI) (excluding extraordinary and non-recurring items) for FY2018, which was in line with TNB’s revised dividend policy of between 30 per cent and 60 per cent of Group PATAMI.

Moggie said TNB, which aspires to be among the Top 10 Global Utility Companies by market capitalisation in 2025, was confident that its highly-skilled workforce, coupled with the measures executed under its Reimagining TNB strategy would position the Group favourably to capture new opportunities in the future.


- Bernama

0.43 sen murahnyaaa

Company manyak hutang oooo

Dagang NeXchange Bhd (DNeX)'s 30.0%- owned associate, Ping Petroleum Ltd has signed a rig contract with Stena Spey Services Ltd to drill two wells in the North Seain 2019. The first well is the Guillemot A GUA-P1 side-track at the Anasuria Cluster concession, which can unlock about 1.7 mln barrels of oil from its current net proved and probable (2P) oil reserves.
Drilling of the side-track is scheduled to start by 1H2019 with production expected upon completion of the project. The second well, meanwhile, is a development well in Avalon field and will be executed by Ping Petroleum UK Ltd (PPUK) as the operator of the field. (The Edge Daily)

I receive. Thick book!

Beliii

Commonsense - go fly kite

ooo best ni scomi...181 million for refurbishment work to complete by this year and purchase of additional carriages valued at 121 million to get within 30months

Masyuuk duit

Upward trending eatech

Oil price will continue to go up

Eatech do not need bail out speakup

Johor and singapore berpisah tiada

Beli laah kawan kawan eatech.. bagus ni

EA tech is moving pflng vessel from sarawak to sabah waters. Very profitable

Rugi tak beli azrb

Parkson is not suited in a high end retail mall

So..there will always be a bigger fish will take up

Rugi tak beli 0.36 still murah ooo

See how it goes up and up .. rugi tak beli ooo

Yaa better buy it can go up again

Really how you know they are contractor?

Yeah hope you are rite value88

There is a difference between an accountant and an economist. Accountant is not an economist but an economist is a accountant

PH is useless laa .. lots of infighting

Klcc is always good

Open up your eyes myeg is going to fly buy buy

Bullshit

Rugi aaaa

Aiyooo

Mampus

Securities research update their target price base since petron shares price overeacted. Their recomendation buy call on Petron is revised based on higher oil price for their refining feedstock that is expected to reduce refining margin but overall petron is generating solid cash flow

INVESTMENT HIGHLIGHTS

9MFY18 earnings in line
Marginally higher sequential earnings
Stable earnings in 9MFY18
Maintain NEUTRAL with a revised TP of RM7.76
9MFY18 earnings in line. KLCCP Stapled Group (KLCCP) 9MFY18 core net income of RM541.3m came in within expectations, making up 74% of our and consensus full year forecast. Distribution per unit (DPU) of 8.7sen was announced for the quarter, bringing total DPU to 26.1sen in 9MFY18.

Marginally higher sequential earnings. On sequential basis, core net income inched up by 1.3%qoq to RM181.4m in 3QFY18. The higher sequential earnings were mainly driven by higher contribution from hotel division. Hotel division returned to the black in 3QFY18 after recording profit before tax (PBT) of RM1.5m against pre-tax loss of RM4.1m in 2QFY18 due to newly refurbished rooms back in inventory. Meanwhile, contributions from office and retail division were flattish on sequential basis.

Stable earnings in 9MFY18. On yearly basis, 3QFY18 core net income climbed 2.1%yoy to RM181.4m, bringing cumulative earnings to RM541.3m ( 1.7%yoy). The stable earnings in 9MFY18 were contributed by higher earnings from office and retail divisions. PBT of office division climbed 1.1%yoy, underpinned by full occupancy and long-term leases. Similarly, PBT of retail division increased 1.2%yoy due to higher occupancy rates and higher rental rates of Suria KLCC. Meanwhile, hotel division recorded pre-tax loss of RM0.2m due to higher depreciation from the newly refurbished rooms.

Maintain NEUTRAL with a revised TP of RM7.76. We maintain our earnings forecast for FY18/19. We revise our TP for KLCCP to RM7.76 from RM7.59 as we roll over our valuation to FY19. Our TP is based on Dividend Discount Model with required rate of required return of 7.8%. We maintain our Neutral call on KLCCP due to its neutral earnings outlook. Dividend yield is estimated at 4.6%.

Source: MIDF Research - 14 Nov 2018

Maintain BUY with a new MYR9.50 TP from MYR10.70, 36% expected total return. This is pegged to lower 9x FY19F P/E. Petron’s 9M18 core profit was above expectations, as the drop in refining margins was not as steep as expected. 3Q18 core profit did plunge 52% YoY on weaker refining margin despite the flattish sales volume recorded. FY18F earnings have been adjusted upwards 24.4%, as the drop in margins was not as huge as expected. However, we maintain our FY19F-20F earnings. In our opinion, we believe the market has overreacted to Petron’s weak margins, with implied FY19F P/E at 6x.

Above expectations. Petron Malaysia posted a 3Q18 core net profit of MYR82m, bringing 9M18 core earnings to MYR257m. This was above our expectations – mainly due to the drop in refining margins not being as steep as we initially thought. YoY, core net profit in 3Q18 plunged 52% despite flattish sales volume (3Q18: 9.1bn bbls vs 9bn bbls last year). This was mainly due to the weaker refining margins caused by higher naphtha prices, which resulted in elevated oil prices. A similar core profit trend was observed in 9M18 as a whole, with a 16% decline witnessed due to a drop in refining margins.

Earnings weakness still within range. While Petron’s earnings have been admittedly weaker YoY, this has already been factored into our full-year net profit estimate, which implies a 35.4% plunge. We believe refining margins in the coming quarters will remain weak due to oil price strength – which typically drives feedstock costs – while end-product prices are expected to edge up at a slower pace. The company’s sales volume growth is expected to be maintained at positive levels (FY18 assumption: 4%), lending support to its earnings base.

In the medium term, we do not foresee Petron making hasty decisions by embarking on capacity expansions via a new plant or an upgrade of the existing Port Dickson Refinery. This is on expectations of weaker refining margins in the next two years due to oil price strength. In terms of improvement works, however, the company is acquiring an existing pipeline to relieve congestion at its Port Dickson product jetty. It has also started the design for a new diesel hydroeater unit to comply with the Euro 5 standard by 2020. This is in line with the Government’s policy that all diesel products sold in Malaysia must comply with this standard.

Maintain BUY with a new TP of MYR9.50. Our FY18F net profit has been adjusted 24.4% upwards, as our previous earnings assumption incorporated overly-conservative refining margin estimates. While we maintain our call, TP has been reduced after being pegged to lower P/E of 8x from 11x – this is based on rolled forward FY19F EPS. The reason why we pegged a lower P/E to Petron was due to its weak refining margins trend. We kept our recommendation intact though, as we believe the share price has overcorrected on the margins weakness.

Source: RHB Securities Research - 16 Nov 2018

Dividend is good

Trapper - perks of setting up the business and float it on bskl. It is a capitalist system what do u expect.. run it as a charity

Buy and buy gentleman

Dividend cex date 28/11. Dun lose yr chance to get money

Minyak dunia manyak murah- petron feedstock crude manayak murah

Fuiyooo naik ooo

Dividend coming soon ex div date 28/11

Alright

Harga minyak global sudah turun ... petron refinery feedstock makin murah.

Big jump