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TENAGA TO REDUCE CAPEX NEXT YEAR (Malaysia)

Posted by Gilmour Poincaree on December 12, 2008

2008/12/11

Bernama

PUBLISHED BY ‘THE NEW STRAIT TIMES’ (Malaysia)

TENAGA Nasional Bhd is reducing its capital expenditure (capex) next year on expectation of a downward trend in electricity demand, said its group chief executive officer, Datuk Seri Che Khalib Mohamad Noh.

“We expect electricity demand will not increase as what it was before, (thus) we have cut down some of the capex that we are supposed to do for 2009,” he told reporters after the company’s annual general meeting in Kuala Lumpur.

He said TNB has experienced an increase in demand (electricity) within the region of six to eight per cent every year but early part of this year saw the demand reduced to four per cent.

“We think it is going to be tough. We are worried that the total demand for the financial year 2009 may go down further,” he said.

But he noted that the the fall would not go as low as 10 per cent which was recorded during the 1997/98 financial crisis.

TNB is spending some RM5-RM6 billion every year in terms of capital expenditure.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW STRAIT TIMES’ (Malaysia)

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