TA Research: TNB Upgraded to BUY at RM8.55

TA Research Analyst James Ratnam, talked about the implication of electricity hike and gas prices on Tenaga Nasional Berhad's (TNB) earnings. TNB will raise electricity prices by 2.23 sen per kilo watt or 7.12% of the current tariff, starting June 1st 2011. Petronas will raise gas prices for pwoer producers to RM13.70 per million British thermal units from RM10.70. No impact on Independent Power Producers' (IPPs') existing contracts. He thinks early general elections are possible ie sometime this year.  He's upgraded his call on TNB from SELL to BUY at RM8.55. See omnystudio.com/listener for privacy information.