News that the Government has approved Tenaga Nasional Bhd’s (TNB) plan to take over Project 3B, a power plant that had been earlier awarded to 1Malaysia Development Bhd (1MDB), sent the former’s stock plummeting by some 4.26% or 56 sen, wiping out some RM3.16bil from its market capitalisation.
TNB’s shares plunged by as much as 86 sen to RM12.30 in intra-day trading just after the Government announced its approval for TNB to take over the project. The counter later recovered to close at RM12.60.
TNB’s share price dip wiped out 5.4 points from the FTSE Bursa Malaysia KL Composite Index, leading the index to end the day with a 8.74-point drop.
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TNB’s shares plunged by as much as 86 sen to RM12.30 in intra-day trading just after the Government announced its approval for TNB to take over the project. The counter later recovered to close at RM12.60.
TNB’s share price dip wiped out 5.4 points from the FTSE Bursa Malaysia KL Composite Index, leading the index to end the day with a 8.74-point drop.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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