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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 offers 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 2020 MYRUSD
Revenue43,976M10,464.96M
Gross Profit11,686M2,780.91M
Operating income8,262.10M1,966.13M
Income before tax4,158.90M989.69M
Net income3,592.70M854.95M
EBITDA18,884.50M4,493.94M
Diluted EPS0.620.14
Dividends Per Share0.400.09
Total Assets181,433.30M45,104.61M
Total liabilities123,005.80M30,579.44M
Total equity55,833.20M13,880.22M
Operating cash flow13,614.10M3,239.74M
Currency in MYRCurrency in USD

Historical Data

 Aug 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 44,531.50M 15,692.20M 50,392.50M 50,939.70M 43,976M
Gross Profit 12,288.70M 4,119.70M 12,116.70M 11,746.10M 11,686M
Operating income 10,025.90M 3,280M 9,675.60M 9,016.40M 8,262.10M
Income before tax 7,973.50M 2,843.50M 5,046.60M 5,425.10M 4,158.90M
Net income 7,367.60M 2,622.30M 3,723.70M 4,529.20M 3,592.70M
EBITDA 15,748.10M 5,329.90M 16,166.90M 19,205.30M 18,884.50M
Diluted EPS 1.30 0.46 0.65 0.79 0.62
Dividends Per Share 0.32 0.82 0.53 0.50 0.40
Total Assets 132,902.20M 144,250M 153,695M 178,847.20M 181,433.30M
Total liabilities 79,283.30M 85,296.90M 93,638.10M 118,533.80M 123,005.80M
Total equity 52,388.60M 57,065.80M 57,837.80M 57,981.80M 55,833.20M
Operating cash flow 12,586.40M 1,753.50M 11,288.40M 18,168.60M 13,614.10M
 Aug 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 10,729.41M 3,649.75M 12,487.67M 12,295.42M 10,464.96M
Gross Profit 2,960.83M 958.17M 3,002.61M 2,835.18M 2,780.91M
Operating income 2,415.63M 762.87M 2,397.69M 2,176.30M 1,966.13M
Income before tax 1,921.13M 661.35M 1,250.58M 1,309.46M 989.69M
Net income 1,775.14M 609.90M 922.76M 1,093.22M 854.95M
EBITDA 3,794.34M 1,239.65M 4,006.29M 4,635.62M 4,493.94M
Diluted EPS 0.31 0.10 0.16 0.19 0.14
Dividends Per Share 0.07 0.19 0.13 0.12 0.09
Total Assets 32,770.85M 35,643.68M 37,191.77M 43,722.57M 45,104.61M
Total liabilities 19,549.57M 21,076.57M 22,658.94M 28,977.82M 30,579.44M
Total equity 12,917.91M 14,100.76M 13,995.83M 14,174.74M 13,880.22M
Operating cash flow 3,032.56M 407.83M 2,797.35M 4,385.39M 3,239.74M

Valuation Measures

Dec 2020
PER16.52
ROA1.99%
ROE6.31%
Operating margin18.78%
Profit margin8.16%

Key executives

  • President, CEO & Executive Director: Baharin bin Din
  • Chief Financial Officer: Nazmi bin Othman
  • Chief Information Officer: Fazil bin Ibrahim
  • Chief Regulatory & Stakeholder Management Officer: Roslan bin Abdul Rahman
  • Chief Grid Officer: Husaini bin Husin

Shareholders

  • Khazanah Nasional Bhd. (Investment Company) (25.5%)
  • Employees Provident Fund (16.7%)
  • Permodalan Nasional Bhd. (9.7%)
  • Kumpulan Wang Persaraan (7.3%)
  • Bumiputra Investment Foundation (2.6%)
  • The Vanguard Group, Inc. (2.0%)
  • Public Mutual Bhd. (2.0%)
  • Great Eastern Life Assurance Co. Ltd. (1.3%)
  • Eastspring Investments (Singapore) Ltd. (1.0%)
  • BlackRock Fund Advisors (0.7%)

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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  • TNB Janamanjung Sdn. Bhd.
  • Sabah Electricity Sdn. Bhd.
  • Federal Power Sdn. Bhd.

Competitors

  • HF Co. SA
Last Updated on 26 Oct, 2021

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