CIMB Research said clarity is needed on issues like the base tariff rate and what the contingent capex would be used for.
PETALING JAYA: A higher allowed capital expenditure (capex) for Tenaga Nasional Bhd
(TNB) in the Regulatory Period 4 (from 2025 to 2027) could enhance its returns, according to CIMB Research.
The research house estimated that for every RM1bil of capex above the RM35.5bil mark will add 3.6 sen a share to its discounted cash flow-based fair value for TNB.
