TNB upbeat on FY22 performance

Nevertheless, utility giant TNB said the growth outlook continues to face challenges mainly from the tightening of US monetary policy, worsening supply chain disruptions weighed by further increases in global commodity prices and stronger inflation pressure, which could dampen household spending and investment activities.

For the second quarter of FY22 , TNB’s top line rose 53.8% y-o-y to RM19.14bil, mainly due to the higher under-recovery position of the imbalance cost pass-through of RM6.3bil as compared to the RM314.6mil of the previous corresponding period.The growth in revenue for 1H22 was mainly due to the under-recovery position of the ICPT of RM9.81bil as compared to the previous corresponding period which was in an over-recovery position of RM12.7mil.

Commenting on dividends, TNB said the board of directors has approved an interim single-tier dividend of 20 sen per share, amounting to RM1.15bil.

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