Petronas Gas expects RM60mil profit impact in FY2025 following Putra Heights inferno

New Straits Times

26-05-2025

KUALA LUMPUR: Petronas Gas Bhd (PGB) is currently estimated to have a total profit impact of RM60 million for the financial year 2025 (FY2025).
This figure combines repair costs and revenue loss resulting from a fire incident at PGB's main pipeline near Putra Heights in Puchong, Selangor, on April 1, 2025, said the natural gas transmission company in a Bursa Malaysia filing today.
PGB said revenue loss due to service interruption is projected to be minimal at approximately RM20 million, owing to proactive collaboration between PGB, the authorities, gas shippers, and distributors in rapidly restoring pipeline services and stabilising supply.
The group also said that the financial impact of repair works and asset restoration is estimated to be approximately RM170 million, subject to the investigation's final findings, and based on the current site conditions and the extent of asset damage.
"A significant portion of this amount is expected to be capitalised under the company's capital expenditure, with partial recovery anticipated through insurance claims," it said.
PGB said it continues to work closely and transparently with the authorities to determine the incident's root cause and identify contributing factors.
An independent task force was also established to provide strategic oversight of the post-incident investigation, recovery and restoration activities, the safety of gas transportation infrastructure, and other related matters.