TENAGA Nasional Bhd’s (TNB) earnings are expected to rebound in the second half of 2020 (2H20), after the utility group posted a 41.5% drop in second-quarter (2Q) net profit due to higher tax expenses and weaker electricity sales. TNB recorded a net profit of RM653.3 million in the 2Q ended June 30, 2020 (2QFY20), versus RM1.12 billion last year. Revenue slid 15.5% to RM10.89 billion from RM12.88 billion the year prior, as business activities slowed amid Malaysia’s pandemic containment measures.
