Dateline 2012-05-21:
Gas Malaysia Bhd, which expects to raise RM734.45 million from its initial public offering (IPO) on June 11, will spend about RM130 million to RM140 million this year to expand its natural gas pipeline network.
Its managing director Datuk Muhamad Noor Hamid said the capital expenditure (capex) will be used to build a 70km to 90km natural gas pipeline in addition to its existing 1,800km network in Peninsular Malaysia. A couple of this pipeline will be built to connect new areas such as Padang Terap (Kedah) and Chuping (Perlis).
“For subsequent years, the capex will taper down to RM40 million to RM30 million per year,” he told a news conference after the launch of its prospectus on Friday.
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Wata - Malaysian Oil and Gas Engineer 