TNB set to benefit from data centre boom: Public Investment Bank

TNB is expected to roll out about RM90 billion in capex for six years until 2030 to support energy transition initiatives and system upgrades. – Bernama filepicTenaga Nasional Bhd is expected to increase its capital expenditure , particularly in its transmission and distribution division, to accommodate technology companies’ setting up data centre facilities in the Klang Valley and Johor.

“We estimate that its partnership with Singtel to establish a greenfield data centre in Iskandar Puteri could potentially result in an earnings uplift of about 24% beyond the financial year 2026 .PIVB noted that TNB is expected to roll out about RM90 billion in capex for six years until 2030 to support energy transition initiatives and system upgrades.

“Currently, the total IT load in Malaysia is estimated at about 900 megawatts in 2024, but this is expected to balloon to about 1,400MW by 2029, translating to a compound annual growth rate of 8%,” it said.The investment bank said other beneficiaries from the increased data centre investments in Malaysia include construction sector players such as Gamuda Bhd and IJM Corporation Bhd for their track record in securing more data centre jobs.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Securities Commission Malaysia warns public of pre-initial public offering investment scamsKuala Lumpur: The Securities Commission Malaysia (SC) has cautioned the public on investment scams enticing investors with pre-initial public offering (IPO) shares of companies seeking listing on Bursa Malaysia.
Source: DailyExpress_MY - 🏆 3. / 83 Read more »

SC warns public of pre-initial public offering investment scamsKUALA LUMPUR: The Securities Commission Malaysia (SC) has cautioned the public on investment scams enticing investors with pre-initial public offering...
Source: theSundaily - 🏆 25. / 51 Read more »

Kenanga Investment Bank to Increase Stake in Merchantrade Asia to 19.94 percentKuala Lumpur: Malaysia’s leading independent investment bank, Kenanga Investment Bank Berhad (“Kenanga Group” or “The Group”) has received Bank Negara Malaysia approval to acquire an additional 15.
Source: DailyExpress_MY - 🏆 3. / 83 Read more »

Solarvest appoints Daniel Ruppert as chief investment officer to drive investment strategiesSolarvest announced the appointment of Daniel Ruppert as its chief investment officer, effective 1 July 2024.
Source: DNewsAsia - 🏆 23. / 51 Read more »

MOHE welcomes PAC’s suggestions on investment guidelines for Public UniversitiesCYBERJAYA: The Ministry of Higher Education (MOHE) welcomes any suggestions from the Public Accounts Committee (PAC) on the implementation and applica...
Source: theSundaily - 🏆 25. / 51 Read more »

Maybank Investment Bank launches campaign to support responsible investingKUALA LUMPUR: Maybank Investment Bank Bhd today launched the “myimpact Invest” initiative to address the increasing demand for responsible investing, ...
Source: theSundaily - 🏆 25. / 51 Read more »