TNB allocates up to RM9.5b capex for FY19

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KUALA LUMPUR (May 14): Utility giant Tenaga Nasional Bhd (TNB) has earmarked a capital expenditure (capex) of between RM9 billion and RM9.5 billion for the current financial year ending Dec 31, 2019 (FY19).

Of the total capex, RM6 billion will be used for its grid division and RM2.5 billion will be allocated for its generation division, mainly to cater for the Jimah East Power Plant and Southern Power Generation (SPG) Pasir Gudang Plant, said TNB chief financial officer Nazmi Othman, adding that the remainder will be for renewable energy and smart metering.

He told the press after the group's annual general meeting here that the capex for this year is lower, as compared with RM12 billion the group spent last year.

At the noon break, TNB shares were unchanged at RM11.74, valuing it at RM66.08 billion. It saw some 3.26 million shares changing hands.