Gas Malaysia diversifies into energy business

April 3, 2014

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.

 


Highlight: PetGas 4Q profit jumps 33% y-o-y to RM394m

March 15, 2014

Does The Edge website purposely make it had to use the c-C and c-V commands?

Dateline 2014-02-10, The Edge:

Petronas Gas Bhd (PetGas)’s net profit jumped 33% year-on-year (y-o-y) to RM394 million in the fourth quarter ended Dec 31, 2013, from RM295 million in the fourth quarter of 2012.

Revenue also rose 13% y-o-y to RM1.028 billion, from RM909 million.

The company proposed a final dividend of 40 sen per ordinary share under a single tier system for the financial year ended Dec 31, 2013. This amounts to RM791 million.

In a statement to Bursa Malaysia, PetGas said the profit increase was in line with the increase in revenue. In addition, there was higher other income and share of profit from associate and joint ventures.

The firm also said its larger profit was due to lower tax expense resulting from a change in deferred tax estimates. This came on the back of a lower future statutory tax rate.

PetGas said its revenue increase was largely due to regasification revenue. This followed commencement of the LNG Regasification Terminal operations in the second quarter last year and higher gas transportation revenue.


CUE FOR MORE HIKES? Era of cheap energy has ended – Petronas

February 13, 2014

Dateline 2013-12-21, Malaysia Chronicle:

THE era of cheap energy has ended and Malaysia has to face the fact that it has to move on to an open market regime, targeted to be implemented by 2019, said Petroliam Nasional Bhd (Petronas).

The national oil company, by way of its wholly-owned subsidiary Petronas Gas Bhd (PGB), has recorded revenue foregone due to regulated gas pricing at a cumulative RM199.9 billion since 1997, with 2013’s first three quarters making up RM20.29 billion alone.

“What we want to do is to move our regulated gas market towards an open market so that we can enjoy competitive pricing. In order to achieve this we need to gradually phase out our regulated market module now,” said Petronas general manager for Malaysia gas management Ezhar Yazid Jaafar during a media briefing, here, recently.

He explained that in preparation for an open market module, the government is increasingly decreasing the amount of gas consumption subsidy, which has a significant impact on the increment of the electric tariff from 33.54 sen/kWj to 38.53 sen/kWj.


Petronas Gas’ H2 outlook promising: HwangDBS

October 11, 2013

That’s because when gas is bought at market rates, the cost is passed on to the voters.

Dateline 2103-09-23, from Sin Chew Jit Poh:

HwangDBS Vickers Research, which maintained a buy call on Petronas Gas Bhd, expects a stronger second half this year led by the maiden contribution from the Melaka Regas plant and larger gas capital expenditure.

“We expect earnings to recover in the second half and management has guided for 3-5 per cent per annum earnings growth from the Regas plant, thus contributing to a promising outlook as Petronas planned to invest RM15 billion to find new gas to cater for the rising demand in Peninsular Malaysia,” it said in a research note today.

The company was also poised to secure overseas ventures given its strong balance sheet, HwangDBS said.


Promising outlook for Petronas Gas in 2HY13, says HwangDBS

October 8, 2013

From the Malay Mail, dateline 2013-09-23:

HwangDBS Vickers Research, which maintained a buy call on Petronas Gas Bhd, expects a stronger second half this year led by the maiden contribution from the Malacca Regas plant and larger gas capital expenditure.

“We expect earnings to recover in the second half and management has guided for 3-5 per cent per annum earnings growth from the Regas plant, thus contributing to a promising outlook as Petronas planned to invest RM15 billion to find new gas to cater for the rising demand in Peninsular Malaysia,” it said in a research note today.


PETRONAS Gas sees brighter prospects from LNG regasification

October 6, 2013

From the Borneo Post, 2013-09-24:

Petronas Gas Bhd’s (Petronas Gas) prospects have been viewed as bright on the back of the commencement of its liquified natural gas (LNG) regasification terminal business in Melaka, Malaysia’s first LNG regasification terminal.

In addition, the group received a leg-up in its growth as the one-off investment tax allowance for its LNG regasification terminal business had more than doubled the group’s 2Q net profit.

Analyst Aaron Tan from the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) in a recent note, said stripping out its one-off tax allowance boost, Petronas Gas’ first half 2013 (1H13) grew at a modest 3.1 per cent year-on-year (y-o-y) while its core earnings shrank 9.9 per cent y-o-y to RM713.8 million.


Safety Moment – Clash of Utilities

September 4, 2013

What do you think of this?

  • Good point – LRT extension
  • Bad point – LRT right of way is above a PETRONAS Gas Berhad pipeline. As far as I can tell, there have been no warnings to residents what to do if the crap hits the fan, evacuation paths, contact numbers, Twitter accounts, offshore bank accounts…

With all the piling work, earthworks and heavy machinery in the near future, can you spell ‘disaster waiting to happen’?PGB_LRT_0002 PGB_LRT_0001