Latest news with #PetronasGas
Malay Mail
27-05-2025
- Malay Mail
Selangor top cop: Police findings on Putra Heights gas blast out by end June
SEPANG, May 27 — Police investigations into the Putra Heights gas pipe inferno last month have been completed, Selangor police chief Commissioner Datuk Hussein Omar Khan said today. Hussein said the police findings will be released alongside the Department of Occupational Safety and Health's (DOSH) report on the gas pipe specimen, which is still pending. 'At present, ground zero has been handed over to Petronas Gas Bhd for restoration works. 'We are expecting the DOSH report to be ready by the end of June. Accordingly, we will release our findings at that time as well,' he told a press conference here. Asked whether the cause of the explosion had been determined, Hussein said it remains inconclusive for now, pending DOSH's findings. On April 30, Hussein said adverse weather conditions were hampering ongoing on-site excavation works at ground zero, causing delays in extricating the affected pipes. He said the final pipe specimen was extricated on May 8. MORE TO COME
The Sun
26-05-2025
- Business
- The Sun
Petronas Gas reports higher Q1 net profit of RM468.8m, declares 16 sen dividend
KUALA LUMPUR: Petronas Gas Bhd's net profit for the first quarter of 2025 (Q1'25) rose to RM468.80 million from RM456.65 million a year earlier. Revenue declined to RM1.59 billion from RM1.62 billion previously, mainly attributable to lower revenue from gas transportation and regasification segments following downward tariff adjustment arising from the sharing factor for the prior year's lower internal gas consumption. In a Bursa Malaysia filing today, the group said its overall performance for the financial year 2025 is expected to remain resilient and stable, notwithstanding the operational disruption caused by the pipeline fire incident in Putra Heights in April 2025. 'All core business segments are anticipated to maintain their strength and continue contributing positively to the group's earnings,' it said. Petronas Gas said that based on current site conditions and the extent of asset damage – pending the outcome of official investigations – the total financial impact from repair and restoration works is estimated at approximately RM170 million. 'A substantial portion of this expenditure will be capitalised as part of the company's capital expenditure, with partial cost recovery expected from the insurance claim. 'Revenue loss attributable to the temporary service interruption is projected to be minimal at approximately RM20 million, driven by close collaboration with regulatory authorities, gas shippers, and distributors that enabled the swift restoration of pipeline services and stabilisation of supply.' It said the total estimated profit impact from both asset restoration and revenue loss is projected to be around RM60 million for the year. In response to the incident, Petronas Gas said the group is intensifying its focus on robust risk management, operational resilience, and proactive mitigation measures. 'We remain firmly committed to maintaining the highest standards of safety and operational excellence, while continuing to pursue disciplined cost management and long-term strategic growth to ensure business continuity and sustainability,' it added. Directors of the company have approved a first interim dividend of 16 sen per ordinary share, amounting to RM316.6 million in respect of the financial year ending Dec 31, 2025, payable on June 24. – Bernama
New Straits Times
26-05-2025
- Business
- New Straits Times
Petronas Gas posts higher 1Q profit, declares 16 sen dividend
KUALA LUMPUR: Petronas Gas Bhd's net profit for the first quarter of 2025 (1Q 2025) rose to RM468.80 million from RM456.65 million a year earlier. Revenue declined to RM1.59 billion from RM1.62 billion previously, mainly attributable to lower revenue from gas transportation and regasification segments following downward tariff adjustment arising from the sharing factor for the prior year's lower internal gas consumption. In a Bursa Malaysia filing today, the group said its overall performance for the financial year 2025 is expected to remain resilient and stable, notwithstanding the operational disruption caused by the pipeline fire incident in Putra Heights in April 2025. "All core business segments are anticipated to maintain their strength and continue contributing positively to the group's earnings," it said. Petronas Gas said that based on current site conditions and the extent of asset damage -- pending the outcome of official investigations -- the total financial impact from repair and restoration works is estimated at approximately RM170 million. "A substantial portion of this expenditure will be capitalised as part of the company's capital expenditure, with partial cost recovery expected from the insurance claim. "Revenue loss attributable to the temporary service interruption is projected to be minimal at approximately RM20 million, driven by close collaboration with regulatory authorities, gas shippers, and distributors that enabled the swift restoration of pipeline services and stabilisation of supply," it said. It said that the total estimated profit impact from both asset restoration and revenue loss is projected to be around RM60 million for the year. In response to the incident, Petronas Gas said that the group is intensifying its focus on robust risk management, operational resilience, and proactive mitigation measures. "We remain firmly committed to maintaining the highest standards of safety and operational excellence, while continuing to pursue disciplined cost management and long-term strategic growth to ensure business continuity and sustainability," it added. On May 26, 2025, the directors of the company have approved a first interim dividend of 16 sen per ordinary share, amounting to RM316.6 million in respect of the financial year ending Dec 31, 2025, and payable on June 24, 2025.
Malay Mail
26-05-2025
- Business
- Malay Mail
Petronas Gas expects RM60m profit dent, RM170m in repairs after Putra Heights pipeline fire
KUALA LUMPUR, May 26 — 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. — Bernama
Malay Mail
22-05-2025
- Business
- Malay Mail
Bursa Malaysia stays lower at midday as regional markets struggle
KUALA LUMPUR, May 22 — Bursa Malaysia ended the morning session lower in line with regional markets following the weaker Wall Street performance overnight amid growing concerns that the new US budget bill will put more stress on the already huge deficit. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 13.69 points, or 0.89 per cent, to 1,531.11 from Wednesday's close of 1,544.80. The benchmark index, which opened 3.34 points easier at 1,541.46, fluctuated between 1,530.33 and 1,541.46 throughout the session. The broader market was negative with 652 decliners against 200 gainers, while 420 counters were unchanged, 1,146 untraded, and seven suspended. Turnover stood at 1.83 billion units worth RM962.90 million. Rakuten Trade Sdn Bhd said the situation was still disappointing for the local bourse as the FBM KLCI dropped further to just below the 1,545 mark at yesterday's close. 'Still lacking any catalysts, we expect the local bourse to stay in consolidation mode with the index to oscillate in the 1,540-1,550 range today,' it said in a research note today. Regionally, Japan's Nikkei 225 lost 1.01 per cent to 36,921.11, Hong Kong's Hang Seng Index decreased 0.55 per cent to 23,695.88 and Singapore's Straits Times Index slid 0.33 per cent to 3,869.79. Among the heavyweights, Petronas Gas gained two sen to RM17.68, MISC added one sen to RM7.67, CelcomDigi was flat at RM3.90, Maybank slid nine sen to RM9.91, Public Bank fell 11 sen to RM4.32, and TNB declined 10 sen to RM14.00. For active stocks, MYEG rose half-a-sen to 90.5 sen, Nationgate advanced three sen to RM1.60, Velesto was flat at 16.5 sen, Tanco and JAKS both eased half-a-sen to 96 sen and 10 sen respectively, and Sarawak Cable slipped one sen to two sen. On the index board, the FBM Emas Index dipped 92.31 points to 11,433.37, the FBMT 100 Index fell 89.50 points to 11,193.27, the FBM Emas Shariah Index went down 73.36 points to 11,372.29, the FBM ACE Index gave up 34.95 points to 4,590.11, and the FBM 70 Index declined 35.94 points to 16,258.22. Sector-wise, the Financial Services Index lost 211.71 points to 18,004.16, the Industrial Products and Services Index was 1.34 point easier at 153.71, the Energy Index trimmed 8.03 points to 704.93, and the Plantation Index tumbled 10.98 points to 7,318.80. — Bernama
