MIDF Amanah Investment Bank maintains buy call on TNB | Malay Mail

KUALA LUMPUR, June 29 — MIDF Amanah Investment Bank Bhd has retained “Buy” call and target price of RM11.80 on Tenaga Nasional Bhd following the government decision to maintain the imbalance cost pass-through rebate at two sen per kilowatt hour to all customers for the second half of H2 2021.

“Although average coal price for the period rose to US$70.06/tonne, which is 3.9 per cent higher than the second regulatory period -extension benchmark coal price of US$67.45/tonne, reference market price for gas of RM17.16/mmbtu is 36.9 per cent lower than RP2-extension’s benchmark gas price of RM27.20/mmbtu.

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