Unit Gas Malaysia to raise tariff by 6%

Dateline 2016-07-04, Asia Review:

Gas Malaysia, partly owned by infrastructure company MMC Corp., is raising natural gas tariff in a move that analysts say will spare utilities from higher costs but may weigh on earnings of manufacturers which uses gas as an input.

The average gas tariff for heavy consumers and commercial users will rise by 6.0% to 27.05 ringgit per one million British thermal unit from July 15, Gas Malaysia said in a stock exchange filing. Selling prices for most residential customers meanwhile remained unchanged.

The increase in the piped-gas tariff will be “positive” in generating cash for national oil and gas producer Petroliam Nasional, or Petronas, while the impact on state-run power producer Tenaga Nasional is “likely to be neutral,” said Fitch Ratings.


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