KUALA LUMPUR: A new deal to supply energy to Singapore has given the YTL Power International Bhd stock a boost.
The company’s share price rose 1.5 sen to 74.5 sen after it announced that it was collaborating with a unit of Tenaga Nasional Bhd to supply 100 megawatts (MW) of electricity to the island republic via the newly upgraded interconnector.
At 10.11am, 674,200 shares were traded.
YTL’s wholly owned subsidiary, YTL PowerSeraya Pte Ltd, was awarded an electricity importer licence for Malaysia on a two-year trial by the Energy Market Authority of Singapore. It would purchase electricity from TNB Pasir Gudang Energy Sdn Bhd, a wholly owned special vehicle company by TNB Genco.