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Nikkei Markets

Malaysian utility Tenaga Nasional's net profit more than doubles on year

Expectations of steady performance through 2020 lift shares in weak market

Tenaga Nasional plans to increase its international exposure. It enjoys a near monopoly on electricity distribution in its home market of Malaysia.   © Reuters

KUALA LUMPUR (Nikkei Markets) -- Malaysia's state-controlled electric utility, Tenaga Nasional said Wednesday its third quarter net profit more than doubled from a year earlier thanks to a sharp fall in fuel cost and increase in other operating income.

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