Gas Malaysia said there would be no change to the selling price for residential customers, that is classified under category A, at RM19.52/MMBtu
“Our Hold call is premised on the weakness in overall market earnings and investors’ inclination for safe havens amid a volatile market. The upside risk to our call is if the retail margin is allowed, while the downside risk is a cut in working capital assumption in the future. We prefer Tenaga Nasional Bhd
,” it explained.
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