PETALING JAYA: Tenaga Nasional Bhd's (TNB) results, due for release this week, may indicate healthy financial strength but mask the deep-seated problems at the utility firm.
With its proposal for a tariff increase still hanging in the balance, increasing payments to independent power producers (IPPs), negative cashflow and huge borrowings to fund its capital expenditure (capex), the financial picture for TNB is less than encouraging.
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