TENAGA NASIONAL senHao (200500-19) ‘The Board of Directors is pleased to annaunce the following: [A. AUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FoR THE 4" QUARTER ENDED 31 AUGUST 2035, {Amounts in RM milion uals otherwise stated) peg eens repeating cone persia rt Forage eng “Tnaton (ese “Tans sso Shavers of it etre Sarees of ascates ral bre race at Free ore Prot ee tation 2nd lat lena at Campy and sais Profit othe period uta Otero he Company Neverntting tees fasted exis psa aetale tothe ont oft Conoony ——!Nonwouat quae _ cunnent ‘quarter (97563) 7a189 on (33) a —= Tao) pat 25.8 a2 (59) 660 om 09 it PRECEDING connesponoine ‘quaxreR uma 9798) a2 Bara iat 13 oy ei 24630 2s. 2am may 036) iano 1a 39) ‘set ao YEAR CORRESPONDING yopsre PERIOD puooas none one ame fesama) (62651) 42 537 ans 7810 (ai93) 453 a9) 36 m4 96 no au aa Tims m2 2867 149) 748 787 7a? win (ou ps5 560 0 Base, onus 6610 7a on so sn roar 148 ‘These audited Condensed Consolidated Stetement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the annual audited financial statements for the year fended 31 August 2014Fence ere |A, AUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE 4% QUARTER ENDED 31 AUGUST 2015 (CONTINUATION) (mounts ia RM muon unless otherwise stated) ormova quater cums PRECEING RCE comment yea ume" ven YEAR CORKESPORDING YER —_CORRESPOKOING cquimrer "QUARTER rODKTE PROD Sous Shosse—shonas Lue ttre pros ee same goss ai ihr cnprhesv (expen icane amet nt reste sect Doris sen nae 8 pew wos oa a as that nay be ected subsets 6 pois ron ren ae ences em 2 ean ao Firauea note ee lasts 02 02 a eater ompaheave(etpens}innaethe pod 21) ta me {ota compre cana rth pi wos asa ata sos eae te ea he Conor ons sas sama oo Menor es CF ris) 0) (35) an Tot comprebeine cone rh pod ws re ‘These audited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income Should be read in conjunction with the annual exKked fnancial statements for the year ended 31 Dagust 20155Brew oes 8, AUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 auausT 2015 (amounts in RM milion unless otherwise stated) Seferreaineame’ CES ea Sineraoiiees ns Oemenss (2,428.0) ase} Beare apa: Gas (Hs3 Exployee Beneree oss} 88S 3 eoelhetant development yronte ‘on eas eave 748 TOTAL wer Assers Soaee B23 Rersines pratt GSE? Now conriot ie mrenesrs sae ae Forse vauere arse wae ‘These audited Condensed Consolidated Statement of Financial Position should be read in Conjunction with the annual audites financial statements for the year ended 31 August 2018 A”Frese ee . AUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 AUGUST 2015 {amounts in RE milion unless otherwise stated) vate omer te omy se scenber 2018 seme nana 9i69) mapas ma aaa se cae ‘aes 675) act] Ferg cnc ease oma moa Ele et eee on) ot ‘lament wna Gas) eae 5) sed sepa Co a + gna ons ‘a nen ‘seat eas ‘omy sett a “wo “ee ita mse ae ca ory toe ton fidneh toni Rane Gene ats Hest ut ca Siptenter203 sees sma (59580) asta) ama a8 arm ae nc or cua an aaa a cee ein eee ; aa a] eel tree 4 {eal ome nse waste) wera onc 5) np Tatra ees) esl ev Pa (sa (seal ‘These audited Condensed Consilidated Statement of Changes in Equity should be readin conjunction wth the annual aueited financial statements forthe year ended 31 August 2014,Tenaca UI NASIONAL ecm nono D. AUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 33 AUGUST 2015 {Amourts in RM millon unless otherwise stated) Fy2015 Fy2014 cnded. ended gnosis 31084 Operating activities Cash generated from operations 16789 103346 Retirement benef pd (767.2) (7085) Customer contributions received 970.5 11564 Consumer deposits received 363.0 345.8 Taxpala 610.8 (6900 Net cash fos generated from operating activities Ts394 104379 Investing activities Investment in assoeates: proceeds form rdemption o unsecured loan notes/RULS 43 59 Dividend received os 404 Ieterest received 23 2308 Investment in FVIPL: “adtons (57,937.6) G14) = dspasals 554778 - Property, plant and equipment “purchases (29,363.7) (20,0065) + Gsposals 140.8 257 Aegulstion of aw subsilary enn zi Dispasal of sects eld forsale 02 138. Net cash flows sed in investing actvtios 7726.3) 752082) Financing activities Bank borrowings Sinem draws 1879 aus3.0 “repayments 963.1 (968.8) toterest paid (51.1) (704.8) Issue of shares to non-cotoling interest 04 Dividends pai to non-conraing intrest 6) (06) Dividends paid (1936.9) ai03) Government development grants recived 58.2 “308.3 Purchase of shares from nan-cntling intrest (a6) - Net increase In debt reserve account 28. 272) Net cash fl (usedin}/generated from financing activites ai) 7308.4 Nc docrasse neath and each equvelents 6538.8) (1456.9) Currency tranlaton ferences 02 oa) ‘cash and cash equivalente at the beginning of the period _7,871.5 9328.8 ‘Cash and cash equivalents atthe end of the period 2251 ign Deposit, bank and cash balances at end ofthe period 2473 B25 Debt reserve account" (238.2) 243.0) Cash and cash equivalents atthe end of the period 2.2581 28715 ete reserve account ete te dass paced wat Kens ancl tat 96 ptf secity ‘egton for bond inanc, These audited Condensed Consolidated Cash Flow Statements should be read in conjunction wth the anual audited financial statements for the year ended 31 August 2014, Arenaca UF NASIONAL nemo rmsons EXPLANATORY NOTES (amounts in RH mln unless otherwise stated) 42) BASIS OF PREPARATION ‘These audited condensed interim financial statements of the Group have been prepared in accordance with the reporting requirements as set cut in Malaysian Financial Reporting Standards. (MFRS') 134 interim Financial Reporting’, International Financal Reporting Standards (1FRS’) 34 Tetesim Financia! Reporting’ and paragraph 9.22 and Appendix 9B ofthe LUsting Requirements of Bursa Malaysia Securities Berhad, and should be read In conjunction bith the Group's audited financial statements forthe year ended 31 August 2034 Within the context of these financial statements, the Group comprises the Company and its subsidaries and the Group's interest in assocates and joint arrangements as at 31 August 2015. The explanstory notes attached to the interim financial statements provide an ‘explanation of events and transactions that are significant to an understanding of the changes Inthe fnancia positon and performance of the Greup since the year ended 31 August 2014, 2) auorT quaurrrcation ‘The annval audited financial statements forthe financial year ended 31 August 2014 were not subject to any qualification 3) CHANGES IN ACCOUNTING POLICIES ‘The accounting polices appled are consistent with those adopted for the annual nancial statements for the year ended 31 August 2014 except for the adoption of new standards, amendments to standards and IC interpretations that are mandatory forthe Group for financial year beginning 1 September 2014. New standards, amendments to standards and IC interpretations that are applicable to the Group effective 1 September 2014, ‘Amendments to MFRS 2'Share-based Payment” ‘Tamendments to MFRS 3 Business Combinations! “Amendments to MFRS 8 "Operating Segments” tAmendments to MFRS 10 “Consolidated Financial Statements, MFRS. 12 ‘Disclosures of Interests in Other Enis’ and MFRS 127 'Separate Financial Statements” “Amendments to MFRS 13 Fair Value Measurement Tic Interpretation 21 Levies" ‘Amendments te MFRS 116 "Property, Plant and Equipment” and MERS 138 “Intangible Assets’ ‘amendments to MFRS 119 "Employee Senet ‘amendments to MFRS 124 "Related Party Disclosures’ “Thmendments to MFRS 139 'Financal Instruments: Recognition and Measurement! “nmendenents to MFRS 232"Financal Instruments: Presentation” ‘The Impact of the new accounting standards, amendments to published standards and Improvernents to the standards on the financial statements of the Group ls not materiaTenacs NASIONAL sewn owen 4) SEASONAL OR CycLICAL FACTORS {The busmesces of the Groun are not subject CO material seasonal or cyclical Muctuations 5) UNUSUAL ITEMS AFFECTING ASSETS, LIABILITIES, EQUITY, NET INCOME or CASH Flows ‘During the financial year under review, the Group recognised the over-recovery of costs under the Imbalance Cost Past Through CICPT"} mechanism, for the period from January 2034 untt ‘Rugust 2015 amounting to RI, 854.5 milion, 6) MATERIAL CHANGES IN ESTIMATES OF AMOUNTS REPORTED ‘There were no changes i the estimates of the amounts reported in the previous financial year that have 3 material effet onthe results of tre curvent reporting peri, 7) DEBT AND EQUITY SECURITIES fs annaunced at Bursa Nalaysia on 28 August 2015, there was a proposal for the issuance of Sukule Murobahsh by 2inah East Power Sdn. Ghd. (JEP), a subsidlary of the Group with 3 ominal value up to RM19.0 illo. Except for those disclosed in Note 22, there were no other material tronsactions relating to debts and equity securities during the period under review, 8) DIVIDENDS ‘The Board of Directors hs proposed a fina single tier dividend of 19.0 sen per ordinary share in fespect of the period ended 31 August 2015 subject to approval atthe Annual General Meeting, “The Books Closure and payment dates will be announced In due course 1 final dividend for Financial Year 2014 was psid on 31 December 2014 totalling RH3,072.3, ‘alin, ‘hn interim dividend for Financial Year 2015 was pald on 23 May 2015 totaling RMSE4.6 milion 9) SEGMENTAL REPORTING Segmental reporting is not presented as the Group fs principally engoged in the generation, transmission, dstributon aril sales of elacticty and the provision of ether related services, tubich are substantially within single business segment. The Group operates primarily in Malaysia 10) VALUATION OF PROPERTY, PLANT & EQUIPMENT The Group does not adopt a revaluation policy on its property, plant and equipment. 111) MATERIAL EVENTS SUBSEQUENT TO THE END OF THE REPORTING PERIOD Pursuant to the announcement made on 3 August 2015 at Bursa Malaysia in relation to the Long {Ferm Incentive Plan CLTIP}, the Group and Company has made the Ist Grant Offer of orainary Shares or RMmi.00 each In the ‘Compony, ‘compres Restreted Shores (R6') Grant apd Performonce Shares (PS) Grant tothe eligible employees of the Group and Executive Directors of the Company. ‘The vesting period for 20th RS and PS Is from the grant date Lil te fuifiment of certain performance erteria forthe Company and individuals The Group has establishes the grant dete on 1 September 2015. The total number of RS and PS ranted were 23,967,000 and 2,072,300 respectively. ‘The Group and Company are in the midst of assessing the impact to the nancial statements 4Tenaca [NASIONAL sewuo asses 12) CHANGES IN THE COMPOSITION OF THE GROUP: (2) As announced at Burs» Malaysia on 25 June 2013 on the execution of the Shareholders! ‘agreement between THB Energy Services Sda. Bhd. (THSES'}, a wholly-owned subsidiary (of Tenaga Nasional Berhad ("TNB') and Sime Oarby Plantation Sin. Ghd. (SDP), 2 wholly- ‘owned subsidiary of Sime Darby Berhad (Sime Darby} in establishing @ joint venture to Undertake blogas project development from agriculural waste product is hereby referred. Gn 30 November 2014, THBES has subscribed 49% shareholding comprising 24,099 forainary shares of RO.00 each of the issued and paid-up share capital of Sime Darby BES Renewable Energy Sdn, Bhd, (SD TNOES'), of the joint venture company set Up or the above purpose. ‘The Group has assessed and recognised the company as an associate of the Group. The subscription of shares Fas no material effect on the Group. (©) On 9 January 2035, TWD ennounced in Bursa Malaysla a Voluntary General Offer (VGO" to SScquire all the remaining ordinary shares of RO1-00 each In Integrax eerhad (ITB!), an Sssocate of the Group, for 2 cash olfer pre of RM2.75 for each Offer Share. On 25 February 2035, the offer price for the Offer Share was revised to RM3.25 per Offer Share ‘As at the closing date of the VGO on 13 April 2015, TNE acquired an addtional 75.41% of Shares in ITB. This has resulted In TNB ebiaining control in ITB and recognised as 3 Subsidiary of the Group. The recognition of ITB as a subsidiary has resulted in the ‘recognition of ggodwil amounting £0 RN123.4 mili atthe Group level, Lupan obtaining valid acceptance of not lass than nine-tenths (9/10) of nominal value of the Offer Shares, TNS had acted In accordance withthe provision of Section 222 ofthe Capital Markets and’Services Act 2007 (CMSA) to Issue 3 nobce for compulsory acquisition ofall ‘ordinary shares not aleady held by TNS on 22 May 2015. Taking nto account. the ompultory acquisition, the equity interest in ITB would be effectively 100%, (© As announced at Bursa Malaysia on 29 June 2035, TNB ond Mitsui & Co. Ltd. Mitsu) hove feceived an addendum to the Letter of Auard dated 3 june 2014 (the Adendum’) forthe 2,000W Project 38 from the Energy Commission (EC) informing thatthe Government has Spproved the tranfer by 1Malaysia Development Berhad (MDS) of ts entire shareholding interest In liman East Power Sdn, hd. CEP) tO TNB. JEP was estabished by the INDE Mitsui Consortium to undertake the development ofthe project. “NB and Mitsui will maintain an effective shareholding Interest In EP In the ratio of 70:30 respectively and any voriation thereof wil be in accordance with the terms of the Power Purchase Agreement ord Generating Licence for the project (on 9 July 2015, TB has satisfied and complied to all the conditions precedent of the Share Sale and Purchase Agreement with THDS for the acquisition of a 70% shareholding in JEP for a total consideration of RM47.0 milion and as such the acquisition has been completed. The Group has assessed and recognised JEP as 9 subsidiary of the Group.Freme hee 13) CONTINGENT LIABILITIES: Eontingent lablties ofthe Group include the folowing Asat Asat si aug aiaug 2015 2018 Claims by third parties 43.8 321.7 “rade guarantees and performance bonds 23.0 24s other contingent Hailes as 50. 451 BL Claims by third parties Incude claims by contractors, consumers and former employees. hese dims are being addressed and the Directors are of the opinion that thelr ultimate {esolstion will ot have @ material effet on the financial postion ofthe Group. 44) CAPITAL COMMITMENTS As at Asat aiAug 31. Aug 2015 2014 Property, plant and equipment committed over 2 Siyear period Authorised but not contrected for 27,5337 17,3505 Contracted but not proviced for Inthe financial statements hans __ 7,788 3aes1.6 _ 35,139. F. ADDITIONAL INFORMATION AS REQUIRED BY PART A OF APPENDIX 96 OF THE BURSA MALAYSIA LISTING REQUIREMENTS 15) REVIEW OF PERFORMANCE (a) Performance of the currant period ended 31 August 2015 against the corresponding period fended 31 August 2014. ‘The Group recorded 2.1% oF RMS,237.8 milion increase in sales of electricity from ima0,219°8 milion to RM43,457.6 min. The improvement was mainly from sales of lectriaty In Penineuiar Malaysia ané Saban, which recorded an Increase of 8.4% and 9.0% ‘respectively. This is resulted from higher average electricity tai in Peninsula of 14.9% and ‘Sabon of 16.9% effective 1 January 2014. Additionally, Peninsular Malaysia and Sabah both Feglstered a growth of 2.2% and 5.9% respectively, a compared to the last corresponding period Profit attributable to the Owners of the Company for the period under review was RM6,118.4 milion ds compared to RM6,67.0 milion recorded in the corresponding period fest financial your, 8 decrease of RM348.6 ‘millon or 5.406. The current reporting period recorded a translation loss of RMB19.2 milion as compared to’a gain of RM445.3 milion feported in the previous year due to the strengthening of the US Dollar ond Japanese Yen ‘gainst the RinggitFree eee 15) REVIEW OF PERFORMANCE (CONTINUATION) (b) Performance ofthe current faurth quarter (three months) FY2015 against the corresponding fourtn quarter (three months) FY2014: The quarter recorded sales of electricity of RE1,305.9 millon against RA2,201.5 millon for the some period lst financial year. The inerenee was moinly from sales of electieity In the Peninsular Malaysia and Sabah, which recorded an increase of 1.9% and 4.3% respectivly Profit attributable to the Owners of the Company for the quarter was RH20.9 milion, 2 Geerease of RIS35.0 millon from RH, 355.9 millon recorded in the corresponding quarter fast fnancil year, mainly due to the transiaton loss of RM733.5 milion reported during tha Current quorter as compared to a goin of RMIS3.1 millon reported In the corresponding ‘auarter due to the weatening of Ringgit against Ue US Dollar and Japanese Yen. 16) MATERIAL CHANGES IN THE QUARTERLY RESULTS COMPARED TO THE PRECEDING ‘QUARTER Performance of the cumrent quarter (4 Quarter FY2015) against the preceding quarter (3 (Quarter F¥2015); ‘The Group reported a higher salas of oloctricty of RM13,305.9 millon forthe current quarter 2s compared to RM20,822.9 milion in the preceding quarter, an increase of RM&B3.0 milion or 4.5%. This Is tflestive of the increase in the demand growth of 3.8% and 5.0% in Peninsular Malaysia and Sabah. ‘The quarter experiancad a higher profit attributable to the Owners of the Company of RMB30.9 millon a5 compared to RM789.4 milion recorded in the praceding quarter amidst translation losses, which wos cushioned by the ineraase In revenue by 18.6% 38 compared to the preceding quarter. 17) Prospects: For the Financial Year 2016, the electricity demand growth is expected to increase in tandem With the projected economic growth of between 4.0% ard 5.0%, maily fromm expansion in the construction, services end manufacturing sectors ae mentioned in the Malaysian 2016 Budget Given the impact of the slowdown in the global economy, including dectning commodity pnces, deprecation of ‘he Ringgit and expected slower growth in major advanced economies, the Beard continues ta remain cautious on the Group's prospect for Financial Year 2016,@ 18) 19) 20) 2) renaca NASIONAL sero ress PROFIT FROM OPERATIONS ‘The folowing tems have been charged/(credted) i arsiving atthe profit from operations Quarter Period vended fended 31 Aug 2015 31 Aug 2015 Property, plant and equipment: Depreciation 1,513.3 5,294.2 = proton sale of properties (0.2) (02) Allowance for receivables Sia 413 ‘Allowance For tventeries 24 137 Taventories written off 48 467, Remeasurement gain on previously held interest nan aezociate ° way COther than the items sighlighted above, there were no impairment of property, plant and {equipment during the quarter and financial period ended 31 August 2035, VARIANCE OF ACTUAL PROFIT FROM FORECAST PROFIT “This note is not applicable, as the Group did not pubiish any profit forecast. TAXATION ‘Taxation and Zakat for the reporting period comprised the following: Individual quarter ‘cumulative quarter “ended ——~—Cended = ndad—Candad SPue tau Staug | StAug ‘Dos ‘ox ‘eas ‘ou current tx and zakat (356.9) (sez) 8172)“ Deferred tox (nt. ‘everatoftemporary diferences (4660) __(103.5) 285.6 56.6 “ota tation ana rok (5025) 987.5 728) (87.3) For the reporting pered ended 31 August 2015, the Group recorded 9 15.0% effective tax rate, which Is lower than the statutory tax rate of 25.086, The lowor effective tax rate Is ‘mainly due tothe utilisation of reinvestment allowance incentive. [STATUS OF CORPORATE PROPOSALS. ‘There were no material corporate proposals entered into during the reporting period,Tenaga [NASIONAL sewn oes 22) GROUP BORROWINGS 2) The analysis of Grup borrowings classified under short and long term categories are 35 folios: As at As at 3iAug 31 Aug 2015 2014 Short term ~ secured S15 553.0 unsecured ari, 1s274 ‘Sub-total 1,985. 2,480.4 ong term ~ socured 11,897. 11,8770 unsesueed 30,5160 11,098.6 Sub-total 22713.1 __22,975.6 Total 24,698.9 __25,456.0 ')_ Currency denominations: As at as at ai Aug aitaug 2035 2014 Japanese Yen 3,589.9 3,270.3 us Dollar 1761.5 2037.2 Omners 370 ‘Total Ringgit equivalent of foreign currency borrowings 308-4 5,968.9 Ringgit borrowings 19,3305 19,490.1 24,698.9 _25,456.0 Total ©) Effective average cost of borrowing based on exposure as at 31 August 2015 was 4.80% (2014: 4.92%). 16) Repayments of fong termn debts during the reporting perod were as follows (i) Foreign currency denominoted term loans of RMi,452.9 millon, and (8) Ringit denominated term foans of RM463.1 milion.Pewee eee 23) DERIVATIVES FINANCIAL INSTRUMENTS, ‘The cutrency option hal been unwound with a net realised loss arnounting to RHS7.3mi in ZRugust 2013, At the reporting date, the notional amount af the curcency option contacts NIL (2044 4700.1 mi wth no interest rate (2014: 115). 24) REALISED AND UNREALISED PROFITS ‘The breakdown of retined profits of the Group as at the reporting date, into realised and Unrealised profits, pursvont tothe directive, 1s 3s Follows: [3H Aug 2015 [34 Aug 2074 | Toter retained prafis of the Company and its subsidiaries “Realised 43,4820 38,851.3 ‘Unvealsed Gais8.)] 4,838.0) “TokaT Share of retained profits from jolt ventures | “Realied 262 150 ‘Unvealsed 126 6 “Tatal share of retained profits from assoclates “Realised 361.7 202.2 “Unrealized oun 3.3) Consalidation adjustrnants 3346 30 ‘Total retained profits of the Group ai 509.0 | 37,2325 ‘The disclosure of realsed and unreoised profits above is solely for complying with the Uiselosure requirements stipulated in the directive by Bursa Malaysia and should not be “appled for any other purposes 25) MATERIAL LITIGATION There is no pending materia tigation other than those announced to Bursa Malaysia since the cate ofthe last aucted financial staternents.Free eee 26) EARNINGS PER SHARE Individual quarter cumulative quarter ended ended ended ended atosis 340814 3hogas 31.08.14 ron attrbutabte to owners ofthe Carpi (in) ang 13858 Glee 5 t67.0 Weighed average number at rina shares in ise (020) Seas S686 SeR.6L Sen ‘Basi Ditedeacnings per share (sen) 1455 24031011459 27) EXCEPTIONAL ITEMS “There were no exceptional terns incurred during the quarter other than as disclosed in Note 5. By Order ofthe Board NORAZNZ BINT MOHD SA (LS 0009635) company Secretary ala wurmpur 39 October 2015