Latest news with #PETRONASGas
The Star
26-05-2025
- Business
- The Star
PETRONAS Gas expects resilient year despite operational disruption
KUALA LUMPUR: Petronas Gas Bhd anticipates an overall resilient and stable performance in the financial year 2025, despite operational disruption caused by the pipeline fire incident in Putra Heights on April 1, 2025. In the first quarter ended March 31, 2025 (1QFY25), PETRONAS Gas posted a net profit of RM468.8mil, up from RM456.65mil in the year-ago quarter. The group reported in a filing with Bursa Malaysia that quarterly revenue dipped to RM1.59bil from RM1.62bil in the previous comparative quarter, while earnings per share rose to 23.69 sen from 23.08 sen previously. In line with the performance, the board of directors declared a first interim dividend of 16 sen per share, with an entitlement date of June 12, 2025, and payable on June 24, 2025. Meanwhile, PETRONAS Gas said in an update to the stock exchange it expects the financial impact of repair works and asset restoration resulting from the Putra Heights fire to be about RM170mil. This figure is subject to the final findings of the investigation and is based on the current site conditions and the extent of asset damage, it said. A significant portion of this amount is expected to be capitalised under the company's capital expenditure, with partial recovery anticipated through insurance claims. Revenue loss due to service interruption is projected to be minimal at approximately RM20mil. The total profit impact to the group, combining repair costs and revenue loss, is currently estimated at RM60mil for FY25. "The group remains firmly committed to maintaining the highest standards of safety, operational excellence, disciplined cost management, and long-term strategic growth. "In light of the recent incident, the group is further strengthening its risk management and mitigation frameworks to ensure continuity, resilience, and sustainability across its operations," it said.
The Star
26-05-2025
- Business
- The Star
FBM KLCI slips ahead of blue-chip results
KUALA LUMPUR: Bursa Malaysia's main index dipped slightly lower over the morning session as investors awaited the release of blue-chip earnings later in the day. The FBM KLCI was down 3.23 points to 1,532.75, in line with most regional markets, as uncertainty remains over the ongoing trade discussions between the US and its trading partners. There was broad selling on the domestic market with declining issues outpacing advancing at a ratio of nearly two-to-one. Trading volume was 2.04 billion shares changing hands for RM792.35mil. Among the blue chips, MISC fell 21 sen to RM7.45, PETRONAS Gas shed 36 sen to RM17.64 and Kuala Lumpur Kepong slid eight sen to RM19.76, On Monday morning, traders digested the news of the 50% tariffs on European imports to the US, and the push back to a July 9 deadline. In Hong Kong, the Hang Seng fell 1% to 23,366 and the Shanghai composite index slipped 0.3% to 3,338. Singapore's Straits Times fell 0.44% to 3,865. Japan's Nikkei was an outlier, rising 0.73% to 37,431.
The Star
29-04-2025
- Business
- The Star
FBM KLCI slips as investors take profits; ringgit climbs to six-month high
KUALA LUMPUR: Investors paused for breath and took profits following recent gains, while the ringgit strengthened against the US dollar. The market barometer, FBM KLCI, fell 6.03 points or 0.4% to 1,515.56 — its intraday low after reaching a high of 1,524.50 earlier. In the broader market, decliners outnumbered gainers, with 506 counters closing lower, 405 ending higher, and 450 unchanged. Turnover stood at 3.044 billion shares worth RM1.81bil. The ringgit, which has gained about 3.4% so far this year, rose 0.9% to 4.3250 against the greenback, marking its highest level in nearly six months. The ringgit advanced 0.45% against the Singapore dollar to 3.3070, gained 0.54% against the euro at 4.9265, and rose 0.37% against the pound sterling to 5.8014. Among the losers on Bursa Malaysia, PETRONAS Gas slid 42 sen to RM16.82, Kuala Lumpur Kepong fell 28 sen to RM19.50, F&N lost 24 sen to RM26.22 and LPI declined 22 sen to RM14.14. Nestle surged RM3.84 to RM84.22, Malaysian Pacific Industries jumped 86 sen to RM18.66, PETRONAS Dagangan added 22 sen to RM19.20 and United Plantations rose 18 sen to RM22.68. Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.45%. Japan's Nikkei 225 ended up 0.38% at 35,839.99, while South Korea's Kospi rose 0.65% higher at 2,565.42. Hong Kong's Hang Seng index closed up 0.16% at 22,008.11. China's blue-chip CSI 300 index ended down 0.17% at 3,775.08, while the Shanghai Composite Index declined 0.05% to 3,286.65.
