Stocks slip, ringgit rises, and leadership changes dominate corporate headlines in today’s AGN Afternoon Update.

TNB Faces RM1.25B Tax Impact

• Federal Court ruling reinstates hefty tax on Tenaga Nasional
  
• Stock dips, dragging FBM KLCI lower
  
• Possible negative earnings impact in FY2025
  

Stocks in Focus

• Amtel enters vehicle manufacturing
  
• Gas Malaysia resumes supply
  
• MSM & UEM Edgenta see CEO changes
  
• GFM acquires 60% of Shapadu Energy
  
• Dataprep signs RM15.5M tech deal
  
• Wawasan Dengkil lands RM9M contract
  

Ringgit Market Movement

• Rebounds to 4.2205 vs USD
  
• U.S. job data triggers Fed cut speculation
  
• Cautious market ahead of July 9 tariff deadline
  

Bursa Malaysia Update

• FBM KLCI dips to 1,545.80
  
• TNB top loser; Nestle among top gainers
  
• Analysts expect rebound towards 1,561
  

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