Gas Malaysia diversifies into energy business


Dateline 2014-02-25, The Sun:

Natural gas distributor Gas Malaysia Bhd will expand into the energy business by teaming up with Tokyo Gas’ Energy Advance Co Ltd to provide electricity and steam through a combined heat and power (CHP) system to industries in Malaysia.

Gas Malaysia said the joint venture is in line with its overall strategy of maintaining its key position to be an innovative value added energy solution provider.

“The JV company will diversify Gas Malaysia’s business from gas distribution to energy business,” it told Bursa Malaysia yesterday.

Gas Malaysia will lead a 66:34 JV together with Tokyo Gas Co Ltd’s subsidiary, Energy Advance Co Ltd (ENAC), to develop and operate the CHP system.

 

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