KUALA LUMPUR (Jan 29): The Malaysian stock market may today take its cue from FBM KLCI-linked Tenaga Nasional Bhd after the state-controlled utility reported higher net profit at RM2.15 billion for the three months ended November 30, 2017 from a year earlier.

Tenaga's share price movement may be closely watched due to the company's weightage in the 30-stock KLCI. On Friday, Tenaga said net profit rose to RM2.15 billion in the three months ended November 30, 2017 from RM1.74 billion. Revenue was higher at RM11.61 billion versus RM11.24 billion.

Earlier, Tenaga said it had changed its financial year end from August 31 to December 31. "The new financial year will commence from 1 September 2017 to 31 December 2017, covering a period of four (4) months. Thereafter, the financial year of the company shall revert to twelve (12) months ending 31 December, for each subsequent year," Tenaga said.

On Friday, the KLCI rose 8.06 points to close at its intraday high at 1,853.92 points after reaching its intraday low at 1,842.56 points.

In currency markets, the ringgit was traded at 3.8710 against the US dollar. Over the last one year, the exchange rate was between 3.8700 and 4.4618.