TNB eyes overseas growth, aims at 20% of profits from abroad

New markets: (from left) Azman, Moggie and Fazlur at the briefing. Azman says TNB will look outside of Malaysia to diversify its revenue.

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is aiming to derive 20% of its profits from overseas by 2025 to offset slowing growth locally.

“There has been a decoupling of electricity demand from gross domestic product (GDP) growth locally, so we will look outside of the country to diversify our revenue,” TNB president and chief executive officer Datuk Seri Azman Mohd said at a press conference after the company’s AGM.