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Business

High coal prices putting pressure on Malaysia power sector

PETALING JAYA: Global coal prices, which have been on a steady rise, hit a six-year high early this month, increasingly putting pressure on the power generation industry in the country.

Business

Tesla tapped by S. Australia in virtual power plant plan

SYDNEY: South Australia plans to roll out solar panels and Tesla Inc batteries to at least 50,000 homes to form what its government says will be the world’s largest virtual power plant.

Business

Vietnam raises US$308mil from PV Power listing

HANOI: The Vietnamese government raised 6.997 trillion dong (US$308.1mil) from selling 20% of state electricity firm PetroVietnam Power (PV Power) at its initial public offering (IPO) yesterday, exchange data showed.

Business

Australia’s green power profit may be under threat

SYDNEY: The profitability of Australia’s first wave of renewable power projects may be threatened as lenders will likely push for some deleveraging when they come up for refinancing, according to the former chief risk assessor at the nation’s green bank.

Business

Ranhill plans power plant with Thai partner in Kedah

KUALA LUMPUR: Ranhill Holdings Bhd plans to team up with Thailand's Treasure Specialty Co. Ltd (TS Co) to look into the setting up of a 1,150MW combined cycle gas turbine power plant in Kedah.

Business

Petronas Gas FY18 net profit weighed by Kimanis Power

KUALA LUMPUR: Petronas Gas Bhd posted a marginal increase in its net profit of RM1.81bil in the financial year ended Dec 31, 2018 as it was weighed down by share of losses from a joint-venture company, Kimanis Power Sdn Bhd.

Business

TNB using blended coal at Perak power plant

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) is introducing blended coal at its power plant in Lumut, Perak, as part of a continuous effort to ensure a sustainable coal supply for electricity generation.

Business

Connectcountry sells stake in Rapid Power for RM1.4mil

PETALING JAYA: Connectcountry Holdings Bhd has disposed of its 31% stake in Shenzhen Rapid Power Co Ltd (Rapid Power) for a total disposal consideration of 2.33 million yuan (RM1.4mil).

Business

AmInvest Research lists Berjaya Food, Mynews, Power Root top picks

KUALA LUMPUR: AmInvestment Research is retaining its overweight call on the consumer sector as it expects consumer sentiment to remain healthy with Berjaya Food, Mynews, Power Root as its top picks.

Corporate News

China's State Power to bid for Brazil hydroelectric dam

SAO PAULO:China's State Power Investment Corp is likely to deliver a bid for Brazil's fourth-largest hydroelectric dam as soon as next month, two people with knowledge of the matter said on Friday.