UOBKH Research expects 4Q23 net profit to come in at RM1bil in the absence of a negative fuel margin.
PETALING JAYA: Tenaga Nasional Bhd
(TNB) is anticipated to post improved financial results in its fourth quarter ended Dec 31, 2023 (4Q23) as it should be able to buffer higher year-end expenses with more stable fuel costs during the period.
UOB Kay Hian (UOBKH) Research noted the power utility should be able to reverse the negative fuel margins it faced in the nine months of 2023 (9M23), as coal prices had stabilised in the period.
