JAKS edges up, so as to Tenaga as well

During market open at 9am. JAKS and Tenaga both actively trade. JAKS edged up half a sen to 68.5 sen with 383,000 shares traded after it finally cleared the hurdle for a 1,200MW coal-fired power plant in Vietnam.

As for Tenaga, rose five sen to RM6.80 with 1.19 million shares done. According to Hwang DBS Vickers Research, TNB plans to raise RM5 billion from a 20-year ringgit-denominated Islamic bond offering. The proposed RM5 billion sukuk is TNB’s first bond sales since 2004. Proceeds from the offering will be used to finance a coal-fired Manjung power plant in Perak.