KUALA LUMPUR (July 31): Shares in Tenaga Nasional Bhd rose 1.76% this morning after its board approved a proposed internal reorganisation that divides the group’s businesses into power generation and retail electricity.
At 9.35am, Tenaga gained 24 sen to RM13.86 for a market capitalisation of RM78.82 billion.
Therefore, the group said it will group power generation businesses into a newly incorporate subsidiary (GenCo) and retail electricity businesses into another new subsidiary (RetailCo).