TNB

Chemistry.

trinitrobenzene, especially the 1,3,5- isomer.

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Proceeds from the offering will be used to grow TNB Genco's renewable energy portfolio, they added.

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TNB Genco started operation in October 2020 and owns 10 thermal power plants, three hydroelectric schemes, two large solar farms and one port in Malaysia, according to its website.

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Tenaga, which counts Malaysian sovereign wealth fund Khazanah Nasional Bhd as its biggest shareholder, said the company had been exploring various initiatives to boost shareholder value, including a potential listing of TNB Genco.

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TNB Genco's IPO plan comes as Malaysia's economy grew at its fastest annual pace in the second quarter, boosted by expansion in domestic demand and resilient exports.

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Tenaga has aimed at turning TNB Genco into a greener power generator as part of its ambition to grab a bigger share of the clean energy market, its president and CEO, Baharin Din, said in a statement on Aug. 2.

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