{"id":1860,"date":"2026-09-21T17:34:13","date_gmt":"2026-09-21T09:34:13","guid":{"rendered":"https:\/\/ekonomiunggul.com\/?p=1860"},"modified":"2026-09-21T17:34:14","modified_gmt":"2026-09-21T09:34:14","slug":"pengecualian-afa-diperluas-tnb-dijangka-serap-kos-tambahan-sehingga-rm150-juta","status":"publish","type":"post","link":"https:\/\/ekonomiunggul.com\/?p=1860","title":{"rendered":"Pengecualian AFA diperluas, TNB dijangka serap kos tambahan sehingga RM150 juta"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">KUALA LUMPUR: Tenaga Nasional Bhd (TNB) dijangka menyerap kos tambahan RM120 juta hingga RM150 juta bagi tempoh September hingga Disember 2026 berikutan pengecualian kerajaan yang diperluas untuk pengguna kediaman daripada mekanisme Pelarasan Kos Bahan Api Secara Automatik (AFA), caj runcit serta cukai jualan dan perkhidmatan (SST).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Menurut CIMB Securities Sdn Bhd dalam nota penyelidikan hari ini, di bawah inisiatif itu, hampir sejuta pengguna kediaman tambahan akan dikecualikan (menjadikan jumlah keseluruhan lebih lapan juta pengguna) berikutan peningkatan ambang penggunaan bulanan kepada 800 kilowatt-jam (kWh) daripada 600 kWh.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;TNB menyatakan bahawa impak akhir akan bergantung pada caj AFA semasa tempoh perlindungan, yang berkaitan dengan kos bahan api,&#8221; katanya.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CIMB Securities memaklumkan, perkembangan itu dilihat sebagai satu kejutan apabila pihaknya menjangka TNB akan mendapatkan semula sebarang subsidi AFA yang diluluskan kerajaan daripada dana Kumpulan Wang Industri Elektrik (KWIE).<br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Menurutnya, syarikat utiliti itu sebelum ini turut menyatakan komitmen mengenai sumbangan korporat sukarela sebanyak RM150 juta untuk menyokong inisiatif rebat elektrik berperingkat kerajaan (April-September 2020) semasa pandemik COVID-19.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Menurut CIMB Securities, pihaknya mengekalkan saranan &#8216;beli&#8217; ke atas TNB, dengan harga sasaran berasaskan aliran tunai diskaun (DCF) yang tidak berubah pada RM15.90 dan mengurangkan anggaran keuntungan bersih teras (CNP) TNB bagi tahun kewangan penuh 2026 sebanyak dua peratus.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Unjuran CNP bagi tahun kewangan 2027-2028 sebahagian besarnya tidak berubah. Walaupun impak serta-merta terhadap CNP adalah kecil dan harga sasaran kami yang berasaskan DCF kekal tidak berubah, pelabur mungkin bimbang bahawa TNB mungkin perlu menanggung lebih banyak kos jika harga bahan api kekal tinggi selepas 2026 dan kerajaan meneruskan inisiatif peluasan pengecualian AFA.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Jika TNB perlu menyerap lebih banyak subsidi selepas 2026, kami bimbang perkembangan sedemikian berisiko menjejaskan keyakinan pelabur terhadap kebolehramalan pulangan TNB yang terkawal di bawah rangka kerja Kawal Selia Berasaskan Insentif (IBR),&#8221; menurutnya.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">-BERNAMA<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sumber: <a href=\"https:\/\/www.bharian.com.my\/bisnes\/korporat\/2026\/09\/1642937\/pengecualian-afa-diperluas-tnb-dijangka-serap-kos-tambahan-sehingga\">https:\/\/www.bharian.com.my\/bisnes\/korporat\/2026\/09\/1642937\/pengecualian-afa-diperluas-tnb-dijangka-serap-kos-tambahan-sehingga<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KUALA LUMPUR: Tenaga Nasional Bhd (TNB) dijangka menyerap kos tambahan RM120 juta hingga RM150 juta bagi tempoh September hingga Disember 2026 berikutan pengecualian kerajaan yang diperluas untuk pengguna kediaman daripada mekanisme Pelarasan Kos Bahan Api Secara Automatik (AFA), caj runcit serta cukai jualan dan perkhidmatan (SST). Menurut CIMB Securities Sdn Bhd dalam nota penyelidikan hari [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1860","post","type-post","status-publish","format-standard","hentry","category-berita"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pengecualian AFA diperluas, TNB dijangka serap kos tambahan sehingga RM150 juta - Solusi Ekonomi Unggul<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ekonomiunggul.com\/?p=1860\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pengecualian AFA diperluas, TNB dijangka serap kos tambahan sehingga RM150 juta - Solusi Ekonomi Unggul\" \/>\n<meta property=\"og:description\" content=\"KUALA LUMPUR: Tenaga Nasional Bhd (TNB) dijangka menyerap kos tambahan RM120 juta hingga RM150 juta bagi tempoh September hingga Disember 2026 berikutan pengecualian kerajaan yang diperluas untuk pengguna kediaman daripada mekanisme Pelarasan Kos Bahan Api Secara Automatik (AFA), caj runcit serta cukai jualan dan perkhidmatan (SST). 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