Budget enhances power outlook

CGS-CIMB Research and TA Research said the transition to renewable energy is set to provide exciting growth opportunities for utility companies, — Bloomberg

PETALING JAYA: The prospects for the utilities sector have been further enhanced by the slew of measures introduced under Budget 2024 to support energy transition in the country.

According to CGS-CIMB Research and TA Research, both of which have reiterated their “overweight” recommendations on the sector, the transition to renewable energy (RE) is set to provide exciting growth opportunities for utility companies, and investors could benefit by taking positions in selected counters.