PETALING JAYA: The weakening fuel prices are largely a boon for utility companies, says Kenanga Research.
In a sectoral report, the research firm believes fuel costs for coal and gas have peaked in the final quarter of 2022 (4Q22) based on the fact that the Indonesian benchmark coal price has retracted by 5% year-to-date to an average of US$291 (RM1,287) per tonne from US$307 (RM1,358) in 4Q22.
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