Tenaga up 1.76% on plan to revamp power generation and retail businesses

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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).