Latest news with #PetronasGasBhd
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 expects RM60mil profit impact in FY2025 following Putra Heights inferno
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.
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.
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
09-05-2025
- Business
- The Star
Trading ideas: Lotte, PetGas, Sunway, Public bank, Green Packet, Kerjaya, GenM, MGRC, TechStore, PEOPLElogy, HHRG, MNC, Pentamaster, Pavilion REIT, BFood
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Lotte Chemical Titan has secured a 10-year ethylene supply contract from PT Asahimas Chemical that is valued at more than RM743.5mn. Petronas Gas Bhd has entered into shareholders' agreements with Sabah Electricity Sdn Bhd and Sabah Energy Corp Sdn Bhd to jointly develop a new 120MW power plant in the Federal Territory of Labuan. Sunway Bhd has received the nod to develop a 20.8-acre plot of land belonging to Railway Assets Corp in the heart of the Seremban city centre, which will have an estimated gross development value of RM2.2bn. Public Bank Bhd , Malaysia's third largest bank by assets, plans to raise its dividend payout to 60% of net profit in 2025, up from 57% in 2024, subject to usual factors including regulatory approval, CEO Tan Sri Tay Ah Lek announced at the AGM. Green Packet Bhd has proposed a share capital reduction to offset RM340mn in accumulated losses. Kerjaya Prospek Group Bhd has secured a RM162mn building contract from Majestic Gen Sdn Bhd for a project in Johor Bahru. Genting Malaysia Bhd 's proposed USD41mn acquisition of the remaining 51% stake in Genting Empire Resorts LLC from the Lim family's Kien Huat Realty III Ltd—giving it full control of loss-making Empire Resorts Inc—has drawn scrutiny from Bursa Malaysia. Malaysian Genomics Resource Centre Bhd has proposed a private placement exercise to raise up to RM2.5mn, alongside a reduction of its issued share capital by RM42mn, as part of its efforts to improve its financial position and fund working capital. TechStore Bhd's wholly owned subsidiary, Tech-Store Malaysia Sdn Bhd, has secured a RM15.9mn contract from the Home Affairs Ministry. PEOPLElogy Bhd, which provides consultancy services and training, saw its IPO oversubscribed by 0.24 times. HHRG Bhd has dismissed CEO Fong Chee Khuen for serious misconduct and abuse of authority, following his suspension on April 7, 2025, over concerns about his financial transactions and personal conduct. MNC Wireless Bhd announced on Thursday that it had received a formal notice regarding the resignation of its auditor, Chengco PLT, effective immediately, prompted by uncertainties concerning the registration status with the Audit Oversight Board of the Securities Commission Malaysia. Pentamaster Corp Bhd 's net profit slipped by one-third to RM13.1mn for the 1QFY25, from RM19.4mn a year ago due to lower revenue and changes in sales mix. Pavilion Real Estate Investment Trust reported a 5% rise in net property income to RM142.8mn for the 1QFY25 — from RM136.0mn a year earlier — driven by higher rental income from Pavilion Bukit Jalil and Elite Pavilion Mall. Berjaya Food Bhd 's net loss widened to RM37.2mn for the 3QFY25 – marking its sixth straight quarterly loss – compared to RM29.8mn a year earlier, mainly due to weaker performance from its Kenny Rogers Roasters operations.
