KUALA LUMPUR: – Tenaga Nasional Bhd’s (TNB) shares which took a battering on Bursa Malaysia yesterday and dragged down the benchmark index, gained slight momentum today.
At close today, TNB’s share price was six sen better at RM13.30 with 9.22 million shares transacted.
An analyst said while the stock improved today, the increase was still insignificant, considering the heavy selling yesterday, shedding 46 sen to close at RM13.24.
Last week, there were reports circulating stating that the public utility giant would possibly take over 1Malaysia Development Bhd’s (1MDB) power generation assets.
The decline in TNB’s share price was also a major contributory factor towards the FTSE Bursa Malaysia KLCI losing over 20 points at close yesterday.
“I believe traders are adopting a wait and see approach... they are waiting for clarity from the TNB management on the matter (interest in 1MDB),” the analyst added. -- BERNAMA