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 TENAGA - Next stock to watch

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Afterburner1.0
post Dec 17 2020, 11:40 AM

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Joined: Jun 2015


QUOTE(rocketm @ Dec 16 2020, 05:38 PM)
I saw there is a new announcement today.

"On behalf of the Board of Directors of TNB, Maybank Investment Bank Berhad wishes to announce that TNB has today mutually agreed in writing with its wholly-owned subsidiary, TNB Retail Sdn. Bhd. (“TRSB”), to amend TNB’s obligations under the asset purchase agreement entered into between TNB and TRSB dated 6 November 2019 (“TRSB APA”). Pursuant to the amendments to the TRSB APA, any remaining components of TNB’s domestic electricity retail business (“Retail Business”) not transferred to TRSB on completion of the transfer of assets, liabilities and business undertakings related to TNB’s Retail Business to TRSB due to any reason whatsoever, including pending issuance of any approval or license from the relevant authority, shall be transferred by TNB to TRSB within a reasonable time as ascertained by TNB.

This announcement is dated 16 December 2020."

What will be the impact on TNB future business?
*
what does it means? they gonna split TNB and TRSB? anyone care to decipher these "complicated" reporting?

 

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