Sector Update
- In our view, the main focus for the sector next year would be on industry reforms. These could potentially include: 1) renegotiations on the first generation power purchase agreements (PPAs) with the independent power producers (IPPs), which are ongoing; 2) the removal of subsidies for natural gas; and 3) a formal tariff formula for TNB.
RHB Equity 360° - 5 October 2010 (Power, Semicon, O&G, Kencana, UMW, QL, BAT; Technical: Tebrau Teguh)
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