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How on earth you can compare TNB to MBB ? Bank's profit margin is getting better in the foreseeable future due to OPR hike ( maybe another 50 bps this year & 50 bps 2023 ). On the other hand, go check out TNB cost of purchasing coal. Look the Newcastle coal price, last year average USD100, now USD 400. TNB pays 65% of their power generation using coal. You do the math. If government don't allow TNB to adjust tariff this coming round due to up coming election, TNB will start to bleed. Also go check from reliable site that shows the percentage of TNB share being "short sell". That will paint you a different picture.
4B. My point is before covid TNB price is about 12 to 16 whereas MBB about 7 to 8 (TNB is much higher than MBB all the while). But currently MBB is about 8.5, which is still above precovid price, and also higher than TNB. That's what I meant MBB is still on the high side! o0o
yutaka. ya, agreed
