January 18, 2020
Dateline 2019-11-19, NST:
Petronas Gas Bhd’s net profit for the third quarter (Q3) decreased 13.64 per cent to RM431.59 million from RM499.81 million recorded in the same quarter a year ago, due to lower revenue and higher repair and maintenance costs.
Revenue for the quarter ended September 30, 2019 was lower at RM1.338 billion as compared with RM1.402 billion previously. It announced an interim dividend for the third quarter of 18 sen per share.
“We are focusing our effort to become the solutions partner to our customers while sustaining good operational performance at all of our assets. The Turnaround activities are to ensure assets integrity, while rejuvenation will extend the assets’ useful life for another 20 years,” PetGas managing director and chief executive officer Kamal Bahrin Ahmad said in a statement today.
September 16, 2017
Dateline 2017-08-15, Nikkei Asian Review:
Petronas Gas, the gas processing arm of Malaysia’s national oil and gas firm Petronas, said Tuesday its second quarter net profit grew 5.3% on year on higher gross profit and improved margin across all segments.
Net profit for the three months ended Jun. 30 stood at 425.33 million ringgit ($98.99 million) compared to 403.75 million ringgit a year ago, the company said in an exchange filing. Quarterly revenue rose 4.9% to 1.17 billion ringgit from 1.12 billion ringgit a year earlier.
Petronas Gas said it expects performance to remain stable amidst the challenging economic environment on the back of its strong and sustainable income streams from existing Gas Processing Agreement, Gas Transportation Agreements and Regasification Service Agreement signed with Petroliam Nasional.
June 17, 2017
Dateline 2017-05-16, NST:
PETRONAS Gas Bhd has registered a net profit of RM463.24 million in the first quarter ended March 31, 3.6 per cent higher from RM447.17 million in the same period a year ago on higher fuel gas price revision.
Its revenue increased 3.54 per cent to RM1.17 billion in the quarter from RM1.13 billion in the corresponding period a year ago.
The company said the higher revenue was mainly contributed by higher utilities revenue in tandem with higher offtake by customers as well as higher sales prices in line with fuel gas price revision coupled with higher regasification revenue attributed to higher storage fees.
“Profit before taxation however was slightly lower by RM1.7 million mainly due to higher operating costs attributed to one-off staff costs adjustment and depreciation expense in line with completion of major capital projects.
June 4, 2016
Now, how would I capitalize on downstream activities?
Dateline 2016-04-27, The Sun:
Petronas Gas Bhd (PGB) has allocated RM4.5 billion in capital expenditure (capex) for the next five years, said its chairman Tan Sri Shamsul Azhar Abbas.
“We are continuously looking for growth projects…we will continue to maintain our capex kind of expense to the tune of about RM300 million a year and for the next five years, our capex is going to be in the region of RM4.5 billion, mainly to cater for the growth projects,” he told reporters after its AGM yesterday.
Shamsul said the two major growth projects that it is involved in are the LNG Regasification Terminal (RGT) and the Air Separation Unit (ASU) project, both of which are located in Pengerang.
He said the RGT project is now at 25% progress on ground and the first storage tank should be commissioned before the end of 2017 while the second tank, which will complete the whole project, will be commissioned by the first quarter of 2018.
The group also aims to enter into its final investment decision for the ASU project by the second quarter of this year. The ASU is being built to cater for the requirements of the Petronas Refinery and Petrochemical Integrated Development (Rapid) project.
“Those are the two major projects as far as growth is concerned. You may notice that in terms of capex requirement, we have undertaken a loan of US$500 million (RM1.95 billion) from Mizuho Bank earlier this year. The bulk of that loan is going to cater for these growth projects and the rest will be reserved for maintenance capex.
April 10, 2016
Dateline 2016-02-24, The Star:
Petronas Gas Bhd earnings rose to nearly RM2bil in the financial year ended Dec 31, 2015 boosted by a one-off recognition of deferred tax asset (DTA) while it expects its agreements and utilities to underpin its steady performance for 2016.
It announced a dividend of 17 sen per share compared with 15 sen a year ago. For FY15, the total dividends were 60 sen compared with 55 sen a year ago.
Petronas Gas said it expected a challenging economic environment. However, it envisaged its steady performance to continue, backed by its solid business models under gas processing agreement, gas transportation agreements and regasification service agreement signed with its parent, Petroliam Nasional Bhd.
April 2, 2016
Dateline 2016-02-11, Nikkei Asean Review:
Petronas Gas and Sabah Energy Corporation have mutually terminated a pact to jointly develop a liquefied natural gas project in the Malaysian state of Sabah.
“In view of the prolonged uncertainty of the regasification terminal Lahad Datu Project, the parties to the Shareholders Agreement have mutually agreed to terminate the said SHA effective 10 February 2016,” Petronas Gas said in a stock exchange filing.
In September 2013, Petronas Gas, which processes natural gas and operates pipelines in Malaysia, had offered Sabah Energy to acquire up to a 20% equity stake in the project. The estimated 0.76 million metric ton per year plant was scheduled to start operation last year but a violent insurgency in 2013 led to an indefinite suspension of the project.
September 4, 2015
Dateline 2015-08-04, Malaysia Reserve:
Petronas Gas Bhd’s pre-tax profit for the second quarter ended June 30, 2015, fell to RM527.10 million from RM578.92 million in the corresponding quarter of 2014.
Revenue declined to RM1.08 billion from RM1.10 billion previously due to lower utilities revenue.
In a filing to Bursa Malaysia, Petronas Gas said the lower revenue was due to electricity tariff rebate effective March 1, 2015.
Petronas Gas expected its 2015 performance for gas processing, gas transportation and regasification segments to remain stable.