KUALA LUMPUR: Hwang DBS Vickers Research expects Tenaga Nasional, which will release its first quarter results on Jan 20, to announce stronger 1Q FY10 net profit.
"We expect net profit to improve q-o-q and y-o-y to about RM500 million on the back of stronger power demand and estimated 1Q coal cost of US$85 per tonne," it said on Tuesday, Jan 19.
It said sustained power demand growth since March 2009 and broad base recovery in the industrial segment indicate a better outlook for Tenaga.
"We estimate that every one percentage point increase in power demand would raise Tenaga's FY10F net earnings by 8%," it said.
It is maintaining a Buy on Tenaga with target price of RM9.60 per share based on 17 times FY11F EPS, which reflects its early mid-cycle valuation since 2000.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
music
Create a playlist at MixPod.com
