Easing coal prices and the ability to draw down on a RM6bil government-guaranteed loan for working capital will leave TNB in a stronger cash-flow position for 2023.
is expected to be in a stronger cash-flow position this year, as the government aims to pay back the first-half 2023 imbalance cost pass through by June this year.
As a result, it said the government owes TNB RM10.4bil for 1H23’s ICPT. Of the RM10.4bil trade receivables, the government paid RM4bil in January this year. “This is for working capital purposes and TNB expects to draw down the balance by this year,” the research house added. “This will help ease TNB’s cash-flow crunch, whose receivables ballooned to RM22bil in December 2022, out of which RM16.9bil is owed by the government. Also, easing coal or gas prices will help its cash flow,” the research house added.
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