Tenaga Nasional Appears Insulated From Iran War Fallout -- Market Talk

Dow Jones

May 26

0208 GMT - Tenaga Nasional could be largely insulated from higher fuel costs arising from the Iran war, TA Securities analyst Hafriz Hezry says in a note. This is supported by the monthly tariff automatic fuel adjustment mechanism and fuel cost pass-through arrangements for its generation business, he says. The utility giant's outlook could remain supported by grid upgrade needs under Malaysia's energy transition blueprint, he reckons. He also expects further earnings contribution from a newly awarded 1.4GW gas plant in Terengganu and continued income from the extended Kenyir hydro power purchase agreement. TA Securities maintains a buy rating on Tenaga and keeps target price at 18.00 ringgit. Shares are 1.5% lower at 14.24 ringgit. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

May 25, 2026 22:08 ET (02:08 GMT)

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This is supported by the monthly tariff automatic fuel adjustment mechanism and fuel cost pass-through arrangements for its generation business, he says. The utility giant's outlook could remain supported by grid upgrade needs under Malaysia's energy transition blueprint, he reckons. He also expects further earnings contribution from a newly awarded 1.4GW gas plant in Terengganu and continued income from the extended Kenyir hydro power purchase agreement. TA Securities maintains a buy rating on Tenaga and keeps target price at 18.00 ringgit. Shares are 1.5% lower at 14.24 ringgit. (yingxian.wong@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 25, 2026 22:08 ET (02:08 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tenaga Nasional Appears Insulated From Iran War Fallout -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTenaga Nasional Appears Insulated From Iran War Fallout -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-26 10:08</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0208 GMT - Tenaga Nasional could be largely insulated from higher fuel costs arising from the Iran war, TA Securities analyst Hafriz Hezry says in a note. This is supported by the monthly tariff automatic fuel adjustment mechanism and fuel cost pass-through arrangements for its generation business, he says. The utility giant's outlook could remain supported by grid upgrade needs under Malaysia's energy transition blueprint, he reckons. He also expects further earnings contribution from a newly awarded 1.4GW gas plant in Terengganu and continued income from the extended Kenyir hydro power purchase agreement. TA Securities maintains a buy rating on Tenaga and keeps target price at 18.00 ringgit. Shares are 1.5% lower at 14.24 ringgit. (yingxian.wong@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 25, 2026 22:08 ET (02:08 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PA3.SI","symbol_name":"长益","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2638561752","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2638561752","pubTimestamp":1779761280,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0208 GMT - Tenaga Nasional could be largely insulated from higher fuel costs arising from the Iran war, TA Securities analyst Hafriz Hezry says in a note. This is supported by the monthly tariff automatic fuel adjustment mechanism and fuel cost pass-through arrangements for its generation business, he says. The utility giant's outlook could remain supported by grid upgrade needs under Malaysia's energy transition blueprint, he reckons. He also expects further earnings contribution from a newly awarded 1.4GW gas plant in Terengganu and continued income from the extended Kenyir hydro power purchase agreement. TA Securities maintains a buy rating on Tenaga and keeps target price at 18.00 ringgit. Shares are 1.5% lower at 14.24 ringgit. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"PA3.SI":"长益","BK6512":"房地产股","BK6045":"建筑与工程"},"translate_title":"国家能源公司似乎不受伊朗战争影响——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PA3.SI":0.74},"content_text":"0208 GMT - Tenaga Nasional could be largely insulated from higher fuel costs arising from the Iran war, TA Securities analyst Hafriz Hezry says in a note. This is supported by the monthly tariff automatic fuel adjustment mechanism and fuel cost pass-through arrangements for its generation business, he says. The utility giant's outlook could remain supported by grid upgrade needs under Malaysia's energy transition blueprint, he reckons. He also expects further earnings contribution from a newly awarded 1.4GW gas plant in Terengganu and continued income from the extended Kenyir hydro power purchase agreement. TA Securities maintains a buy rating on Tenaga and keeps target price at 18.00 ringgit. Shares are 1.5% lower at 14.24 ringgit. (yingxian.wong@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 25, 2026 22:08 ET (02:08 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}