Latest news with #PetronasDaganganBhd
The Sun
6 days ago
- Business
- The Sun
Govt aims for all ports to transition to use B20 biodiesel
SEPANG: The government is targeting all ports nationwide currently using B10 palm-based biodiesel in their operations to transition to B20 biodiesel, said Plantations and Commodities Minister Datuk Seri Johari Abdul Ghani. Johari said the initiative would support the country's efforts to meet its goal of reducing greenhouse gas (GHG) emission intensity based on Gross Domestic Product (GDP) by 45 per cent by 2030 and to achieve net-zero carbon emissions by 2050. 'In the future, I want to see every port, like Penang Port, Port Klang, Tanjung Pelepas Port, Johor Port and Kuantan Port, start using B20 biodiesel in their operations. 'We are currently collecting statistics, and based on that data, we will be able to determine the operational costs involved,' he told reporters after launching the B20 Use Pilot Project for Ground Service Vehicles and Machinery at the Kuala Lumpur International Airport (KLIA) here today. He said the government had already begun pilot projects for the use of B20 biodiesel in Langkawi, Labuan and Sarawak in 2020 and now at KLIA for ground service vehicles and machinery to create a big impact and be a catalyst for national change in the use of green energy. Johari said the initiative not only supports Malaysia's transition toward sustainable energy but alsod the initiative not only supports Malaysia's transition toward sustainable energy but also strengthens the country's position as the world's second largest producer of palm oil, which is committed to responsible and proactive practices. 'This is one of the government's key initiatives because we've made a commitment to the world that we intend to achieve net-zero carbon emissions by 2050,' he said. According to Johari, the project is being implemented through a strategic collaboration between the Malaysian Palm Oil Board (MPOB), Petronas Dagangan Bhd, Malaysia Airports Holdings Bhd (MAHB) and Syarikat Teras Kembang Sdn Bhd. He said Petronas Dagangan Bhd serves as the B20 biodiesel supplier, MAHB as the airport operator, while Syarikat Teras Kembang Sdn Bhd manages the petrol stations supplying B20 to operators of ground service vehicles and machinery at KLIA. 'This launch is a historic milestone as it marks the first time B20 biodiesel has been introduced for the ground service sector or the industrial sector at airports in Malaysia,' he said. B20 is a blend of 20 per cent palm methyl ester (PME) and 80 per cent petroleum diesel. Its use is seen as contributing to sustainability and reducing the use of fossil-based fuels, as well as reducing the use of GHGs that cause global warming.
The Star
6 days ago
- Business
- The Star
Govt aims for all ports to transition to using B20 biodiesel
SEPANG: The government is targeting all ports nationwide currently using B10 palm-based biodiesel in their operations to transition to B20 biodiesel, says Plantations and Commodities Minister Datuk Seri Johari Abdul Ghani. "In the future, I want to see every port, like Penang Port, Port Klang, Tanjung Pelepas Port, Johor Port and Kuantan Port, start using B20 biodiesel in their operations. "We are currently collecting statistics, and based on that data, we will be able to determine the operational costs involved," he told reporters after launching the B20 Use Pilot Project for Ground Service Vehicles and Machinery at the Kuala Lumpur International Airport (KLIA) here on Thursday (May 29). He stated that the government had initiated pilot projects for the use of B20 biodiesel in Langkawi, Labuan, and Sarawak in 2020 and was now implementing it at KLIA for ground service vehicles and machinery. Johari said the initiative supports Malaysia's transition toward sustainable energy and strengthens the country's position as the world's second-largest producer of palm oil. "This is one of the government's key initiatives because we've made a commitment to the world that we intend to achieve net-zero carbon emissions by 2050," he said. According to Johari, the project was being implemented through a collaboration between the Malaysian Palm Oil Board (MPOB), Petronas Dagangan Bhd, Malaysia Airports Holdings Bhd (MAHB) and Syarikat Teras Kembang Sdn Bhd. He said Petronas Dagangan Bhd serves as the B20 biodiesel supplier, MAHB as the airport operator, while Syarikat Teras Kembang Sdn Bhd manages the petrol stations supplying B20 to operators of ground service vehicles and machinery at KLIA. "This launch marks the first time B20 biodiesel has been introduced for the ground service sector or the industrial sector at airports in Malaysia," he said. B20 is a blend of 20% palm methyl ester (PME) and 80% petroleum diesel. – Bernama
The Star
26-05-2025
- Business
- The Star
Commercial division to drive PetDag volume growth
PETALING JAYA: Petronas Dagangan Bhd (PetDag), the listed operator of Petroliam Nasional Bhd (PETRONAS) stations nationwide, enters the year with the widely anticipated RON95 petrol subsidy rationalisation to be implemented in the second half of 2025. Analysts were mixed on their views for its outlook following the release of the company's first quarter ended March 31, 2025 (1Q25) results last Friday, with CGS International Securities noting that the RON95 subsidy rationalisation move may impact retail volumes, already suffering from inflationary pressure. It cited that there had been a 2% year-on-year and quarter-on-quarter decline in overall sales volume in 1Q25. The research house maintained a 'reduce' call on the stock with an unchanged target price of RM16.74. While it noted that 1Q25 earnings were broadly in line with its financial year ending Dec 31, 2025 (FY25) estimates, there could be more downward pressure in the second half of 2025. Kenanga Research, which has maintained an 'outperform' call on the stock with an unchanged target price of RM21.20 per share, noted that retail volumes were expected to remain weak in FY25 due to overall cautious consumer sentiment, but this would be offset by the company's optimised cost structure. 'Its commercial division is expected to remain the driver for volume growth in the near term due to healthy demand,' the research house said. TA Research said the top 15% of household income earners would not significantly reduce their consumption despite the RON95 subsidy rationalisation. However, the research house did not discount the possibility that the government might widen the scope of the rationalisation to other income groups, especially in the context of driving the transition to cleaner transportation modes such as electric vehicles and public transportation. TA Research has raised its target price for PetDag to RM19.10 apiece from RM18.20, but maintained a 'sell' call on the stock given the limited upside from current share price levels.
New Straits Times
23-05-2025
- Business
- New Straits Times
Petronas Dagangan's Q1 net profit jumps 29.8pct to RM293.5mil, boosted by lower spending
KUALA LUMPUR: Petronas Dagangan Bhd's (PetDag) net profit rose 29.8 per cent to RM293.5 million in the first quarter ended March 31, 2025 (1Q25) from RM226.04 million a year ago. This was boosted by lower expenditure and higher other income, the company said. However, PetDagang's quarterly revenue declined to RM9.09 billion from RM9.39 billion previously, its filing to Bursa Malaysia showed. Its earnings per share came in higher at 29.50 sen compared to 22.80 sen in 1Q24. The group announced an interim dividend of 20 sen per share (RM198.69 million), up from 18 sen per share last year, to be paid on June 21. Meanwhile, PetDagang recorded a pre-tax profit of RM409.2 million for the quarter, higher against 1Q24 and 4Q24 by 25 per cent and 13 per cent respectively. The higher profitability was mainly driven by lower expenditure across all segments, coupled with marginal improvements on gross profit. This was further supported by favourable price trends for commercial segment. Total volume was slightly lower against both 1Q24 and 4Q24. The group's retail segment recorded lower volume from Mogas and diesel as a result of the shift towards cautious consumer spending during festive period in the quarter under review. However, commercial segment continued to capitalise on the higher demand for Jet A1, softening the overall reduction on total volume. PetDagangan said while the ongoing global uncertainties still remain, the group will continue to monitor potential indirect effects, particularly inflationary pressures towards its supply chain. "Amid this backdrop, the economic environment is expected to be resilient. "This positions the group to sustain its growth, anchored by steady consumer spending and robust investment activity," it added.
The Star
23-05-2025
- Business
- The Star
PETRONAS Dagangan's net profit jumps to RM293.5mil in 1Q
KUALA LUMPUR: Petronas Dagangan Bhd says it will continue to monitor potential indirect effects, particularly inflationary pressures on its supply chain, amid the ongoing global uncertainties. However, it remains optimistic over the resilience of the economic environment. "This positions the group to sustain its growth, anchored by steady consumer spending and robust investment activity," it said in comments accompanying its first-quarter results filing with Bursa Malaysia. In the opening quarter of 2025 (1QFY25), PETRONAS Dagangan recorded a net profit of RM293.5mil, up from RM226.04mil in 1QFY24. It reported revenue of RM9.09bil, down from RM9.39bil in the previous comparative quarter. Earnings per share rose to 29.5 sen from 22.8 sen previously. According to the group, the higher profitability was mainly driven by lower expenditure across all segments, coupled with marginal improvements on gross profit. This was further supported by favourable price trends for the commercial segment. It said the retail segment recorded lower volume from Mogas and diesel as a result of the shift towards cautious consumer spending during the festive period in the quarter under review. However, the commercial segment continued to capitalise on the higher demand for Jet A1, softening the overall reduction on total volume In line with the performance, the board of directors declared an interim dividend of 20 sen per share, payable on June 21, 2025, to those registered in the records of depositors on June 11, 2025.
