TNB down, investors cautious after proposal to buy 1MDB's power assets

The drop in TNB

PETALING JAYA: Investors appear to take a cautious stance to Tenaga Nasional Bhd’s (TNB) plan to buy the power assets of Edra Global Energy Bhd, the power company arm of 1Malaysia Development Bhd (1MDB), sending the share price of the national utility lower by 30 sen or 2.4% to RM12.36.

The drop in share price was equivalent to a loss of RM1.69bil in market capitalisation within the half-day trading session on the eve of Hari Raya.