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Utilities

Tenaga Nasional Bhd.

Company Background

Tenaga Nasional is a Malaysian state-controlled power company. Its main business is electricity generation and distribution of power throughout the entire country, with the exception of the state of Sarawak. It operates six thermal power stations and three hydroelectric facilities. In 2013, Tenaga used mainly gas (45.5%) and coal (40.5%) to generate electricity that accounted for more than 40% of the country's power needs. The remaining electricity is produced by independent power producers in the private sector.

Electricity is subsidized by the government. Khazanah Nasional and other state institutions own more than half of Tenaga Nasional's shareholdings. President and CEO Azman Mohd has been with the company since 1979, after serving in numerous managerial positions. Outside of Malaysia, Tenaga operates a power generation business in Kuwait and Abu Dhabi, both are run through joint ventures. The company also operates Universiti Tenaga Nasional, a private university.

Business Summary

Tenaga Nasional Bhd. engages in the generation, transmission, distribution, and sale of electricity. It provides its products and services to commercial, industrial, and residential customers. The company was founded on September 1, 1949 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2019 MYRUSD
Revenue50,939.70M12,295.42M
Gross Profit11,746.10M2,835.18M
Operating income9,016.40M2,176.30M
Income before tax5,425.10M1,309.46M
Net income4,529.20M1,093.22M
EBITDA19,205.30M4,635.62M
Diluted EPS0.790.19
Dividends Per Share0.500.12
Total Assets178,847.20M43,722.57M
Total liabilities118,533.80M28,977.82M
Total equity57,981.80M14,174.74M
Operating cash flow18,168.60M4,385.39M
Currency in MYRCurrency in USD

Historical Data

 Aug 2015Aug 2016Dec 2017Dec 2018Dec 2019
Revenue 43,286.80M 44,531.50M 15,692.20M 50,392.50M 50,939.70M
Gross Profit 10,897M 12,288.70M 4,119.70M 12,116.70M 11,746.10M
Operating income 9,189.40M 10,025.90M 3,280M 9,675.60M 9,016.40M
Income before tax 7,032.60M 7,973.50M 2,843.50M 5,046.60M 5,425.10M
Net income 6,118.40M 7,367.60M 2,622.30M 3,723.70M 4,529.20M
EBITDA 14,483.60M 15,748.10M 5,329.90M 16,166.90M 19,205.30M
Diluted EPS 1.08 1.30 0.46 0.65 0.79
Dividends Per Share 0.29 0.32 0.82 0.53 0.50
Total Assets 117,135M 132,902.20M 144,250M 153,695M 178,847.20M
Total liabilities 68,658.40M 79,283.30M 85,296.90M 93,638.10M 118,533.80M
Total equity 47,208M 52,388.60M 57,065.80M 57,837.80M 57,981.80M
Operating cash flow 11,111.40M 12,586.40M 1,753.50M 11,288.40M 18,168.60M
 Aug 2015Aug 2016Dec 2017Dec 2018Dec 2019
Revenue 12,078.48M 10,729.41M 3,649.75M 12,487.67M 12,295.42M
Gross Profit 3,040.63M 2,960.83M 958.17M 3,002.61M 2,835.18M
Operating income 2,564.15M 2,415.63M 762.87M 2,397.69M 2,176.30M
Income before tax 1,962.33M 1,921.13M 661.35M 1,250.58M 1,309.46M
Net income 1,707.24M 1,775.14M 609.90M 922.76M 1,093.22M
EBITDA 4,041.41M 3,794.34M 1,239.65M 4,006.29M 4,635.62M
Diluted EPS 0.30 0.31 0.10 0.16 0.19
Dividends Per Share 0.08 0.07 0.19 0.13 0.12
Total Assets 27,889.28M 32,770.85M 35,643.68M 37,191.77M 43,722.57M
Total liabilities 16,347.23M 19,549.57M 21,076.57M 22,658.94M 28,977.82M
Total equity 11,240.00M 12,917.91M 14,100.76M 13,995.83M 14,174.74M
Operating cash flow 3,100.45M 3,032.56M 407.83M 2,797.35M 4,385.39M

Valuation Measures

Dec 2019
PER16.64
ROA2.72%
ROE7.82%
Operating margin17.70%
Profit margin8.89%

Key executives

  • President, CEO & Executive Director: Amir Hamzah bin Azizan
  • Chief Financial Officer: Nazmi bin Othman
  • Chief Information Officer: Fazil bin Ibrahim
  • Chief Corporate Officer: Roslan bin Abdul Rahman
  • Chief Grid Officer: Husaini bin Husin

Shareholders

  • Khazanah Nasional Bhd. (Investment Company) (25.6%)
  • Employees Provident Fund (17.4%)
  • Permodalan Nasional Bhd. (9.7%)
  • Kumpulan Wang Persaraan (7.1%)
  • Bumiputra Investment Foundation (2.6%)
  • The Vanguard Group, Inc. (2.3%)
  • Public Mutual Bhd. (1.9%)
  • Great Eastern Life Assurance Co. Ltd. (1.6%)
  • Eastspring Investments (Singapore) Ltd. (1.0%)
  • AIA Bhd. (0.8%)

Contact Details

  • Website:http://www.tnb.com.my
  • Address: Pejabat Setiausaha Syarikat, Level 2, Ibu Pejabat Tenaga Nasional Berhad, Kuala Lumpur, 59200, Malaysia
  • Phone: +60.3.2296.5566

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Competitors

  • HF Co. SA
Last Updated on 30 Oct, 2020

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