Latest news with #PetronasGasBhd
Malaysian Reserve
11-08-2025
- Business
- Malaysian Reserve
Foreign investor net selling on Bursa Malaysia enters fifth week
FOREIGN investors extended their net selling streak on Bursa Malaysia to five consecutive weeks, with CIMB Group Holdings Bhd, Petronas Gas Bhd and IHH Healthcare Bhd topping the list. They registered a net outflow of RM1.14 billion, times higher than the previous week, according to MBSB Research fund flow report for the week ended Aug 8. On the flip side, they net bought mostly in Malayan Banking Bhd (Maybank), Sunway Bhd and RHB Bank Bhd. The same counters topped the list of net bought by local institutions who extended their net buying streak to two consecutive weeks, registering purchases of RM1.03 billion, close to four times higher than the previous week. Local retailers continued their net buying activities, extending to a fifth consecutive streak of purchases, posting a net inflow of RM105.5 million, the report added. –TMR
The Star
08-07-2025
- Business
- The Star
Trading ideas: NexG, PETRONAS Gas, OSK, Sime Darby Property, Lotte, GenM, OneTech, iCents, PMCK
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. NexG Bhd has secured several contract extensions from the Home Ministry with the value disclosed for some of them adding up to RM45.6mn. Petronas Gas Bhd has fully restored natural gas supply to Batu Tiga, Shah Alam, and Connaught Bridge after successfully commissioning a newly constructed bypass pipeline on 1 July 2025. OSK Holdings Bhd is acquiring Wilayah Credit Sdn Bhd for RM16.5mn in cash to expand into motorcycle financing. Sime Darby Property Bhd , via wholly owned unit Sime Darby Property (Hong Kong) Ltd, has entered into a loan agreement to provide £10mn (RM58mn) in shareholders' advances to Battersea Project Holding Co Ltd. Lotte Chemical Titan Holding Bhd is undertaking a 10-year related-party transaction valued at US$2.99bn (RM12.7bn) via a supply agreement between subsidiaries in Indonesia. Genting Malaysia Bhd announced that its US subsidiary, Genting Americas Inc, has obtained a favourable outcome in a legal dispute after the US District Court for the Southern District of Florida granted its motion to dismiss a lawsuit filed by RAV Bahamas Ltd. OneTech Solutions Holdings Bhd has been served with a winding-up petition by former MD Lau King Yew, escalating an internal legal dispute. iCents Group Holdings Bhd said its IPO has been oversubscribed by 2.3x ahead of its ACE Market debut on 17 July. PMCK Bhd is expanding regionally with a new private medical centre, PMC Kulim, slated to begin operations in 1Q28.
The Star
07-07-2025
- Business
- The Star
PGB restores gas supply to key areas following bypass pipeline completion
KUALA LUMPUR: Petronas Gas Bhd (PGB) has fully restored natural gas supply to Batu Tiga, Shah Alam, and Connaught Bridge following the successful commissioning of its newly constructed bypass pipeline on July 1, 2025. The gas infrastructure and utilities company said the operation was carried out after fulfilling all engineering, operational, and regulatory safety requirements, including the issuance of a permit to operate (PTO) by the Occupational Safety and Health Department (DOSH). "With natural gas powering between 40 per cent to 50 per cent of Malaysia's electricity, PGB remains focused on ensuring the public feels secure living near this critical infrastructure - a responsibility the company embraces as part of its commitment to safe, reliable energy for all,' it said in a statement today. PGB said as part of its safety-first philosophy, the company has implemented enhanced engineering reinforcements at the bypass section in Putra Heights, including advanced sensors to detect soil and pipe movement, exceeding standard requirements. To ensure long-term stability and structural integrity, sheet piling and engineered support structures were also installed to safeguard the pipeline, ensuring safe, secure, and uninterrupted performance. The company also said a new permanent pipeline is currently being designed with enhanced safety features and will be installed on deep-piled slab foundations, offering greater structural resistance to soil movement and unpredictable ground shifts, given the specific risks in the area due to surrounding development. It noted that the layout will also include new shut-off valves to allow shorter isolation distances in the unlikely event of an emergency. In addition to restoring supply, the company has disbursed more than RM2 million in ex-gratia and humanitarian aid through local authorities, including RM1.38 million in direct assistance to affected families and a RM25 million contribution via the Housing and Local Government Ministry for home reconstruction. PGB also carried out precautionary assessments along other sections of the 2,680-kilometre Peninsular Gas Utilisation (PGU) pipeline to ensure system-wide integrity. These efforts involved the use of inspection tools such as Geopig and Magnetic Flux Leakage (MFL) technology, complemented by targeted visual inspections at selected segments. The company confirmed that to date, no other locations exhibit risk characteristics similar to those identified in Putra Heights. - Bernama
New Straits Times
06-07-2025
- Business
- New Straits Times
PGB to rebuild confidence
KUALA LUMPUR: Petronas Gas Bhd (PGB) has stepped forward to provide clarity and assurance amid continued public interest and speculation surrounding the recent investigation into the Putra Heights pipeline incident. In a timely move, managing director and chief executive officer (CEO) Abdul Aziz Othman said: "We are not here to deflect. We are here to demonstrate that safety is not a slogan — it is a system, a culture and a daily commitment." The recent investigation findings confirmed what PGB had long maintained: the pipeline infrastructure is structurally sound and built to meet stringent engineering and regulatory standards. Yet, like the public, PGB remains concerned by the soil movement issue and is committed to addressing it with transparency and responsibility. "What we can say, with clarity and confidence, is that our pipeline infrastructure has operated safely for more than 30 years, under continuous monitoring, a structured operation, maintenance and inspection plan, built as per International Code and Standards Requirements, high standards of acceptance and evaluation from hydrostatic testing, in-line inspection works, and third-party audits — all in line with the requirements of international standards like ASME B31.8 and B31.4 – as part of an ongoing safety and reliability regime." While the report points to environmental and geotechnical factors, PGB remains steadfast in its belief that community confidence must be earned, not assumed. "Which is why we are here today: not to speculate, but to communicate openly, provide technical clarity and reinforce our unwavering commitment to public safety, regulatory compliance and responsible co-existence with the communities we serve." An Era of Enhanced Corporate Transparency PGB's leadership made its position clear: the safety and integrity of its PGU pipeline infrastructure are ensured throughout its entire lifecycle — from design to construction and into daily operations. At the design stage, PGB adheres to internationally recognised codes, incorporating geotechnical assessments and pipeline engineering specifications tailored to terrain and urban factors. During the construction phase, materials, welding and installation undergo stringent quality controls, third-party verification and non-destructive testing to detect anomalies. In the Operation & Maintenance phase, the company conducts periodic in-line inspections and integrity assessments. This holistic process culminates in the issuance of the Occupational Safety and Health Department's Permit to Instal and Permit to Operate — granted only after all non-destructive testing has passed acceptance criteria, hydrostatic testing, structural validation and third-party verification prior to commencement of operations. "Our infrastructures were inspected, verified and certified. That's not a claim — it's a fact," said Abdul Aziz, referencing a folder of compliance reports. "Now, the focus must shift from speculation to restoring confidence through transparency." Addressing Soil Suitability Concerns Addressing public concern on soil suitability, Abdul Aziz explained: "Before any construction, our engineers and consultants conducted proper route selection, geotechnical and soil stability assessments prior to designing the pipeline in accordance with international standards. At the time, all site conditions met all safety thresholds." He added that pipeline design and construction were tailored to suit specific ground conditions. Depending on soil type and resistivity, different protective coatings were applied to ensure long-term durability and corrosion resistance. High-resistivity soils may require standard coatings, while low-resistivity or more corrosive soils — such as in peat or swampy areas — demand enhanced anti-corrosive systems, including additional layers of specialised coating. This ensures the pipeline's integrity across diverse terrains. Aziz emphasised that this was not a failure of due process, but a result of evolving subsurface shifts — a challenge that highlights the need for stronger urban resilience and ongoing vigilance. "This is not just a lesson for the energy sector, but for developers, planners and regulators alike." Reassurance Across the PGU Pipeline Aziz also addressed speculation about similar risks along the 2,680km PGU pipeline. "As a prudent operator, even without instruction, we initiated additional soil movement assessments across key segments as a further precaution, over and above standard requirements." Using Geopig, Magnetic Flux Leakage technology, Intelligent PIG and Electro-Magnetic Locator tools, PGB found no location with conditions comparable to Putra Heights, reinforcing the pipeline's safety and structural integrity. "What we hope for now is to shift the public lens from blame to building trust. And trust, in our view, begins with honest conversations and visible action." Living Near Infrastructure — A Reality Reimagined The core message of the session revolved around "Confident Coexistence" — the idea that urban communities and energy infrastructure can, and must, live side by side. In a world increasingly dependent on energy security, pipelines are not relics of risk, but lifelines of continuity. "Natural gas powers between 40 per cent to 50 per cent of Malaysia's electricity. Our job is to make people feel secure living near it," said Abdul Aziz. In Putra Heights, PGB has installed a bypass line to ensure continuity of gas supply with enhanced safety features. To ensure long-term stability, sheet piling and engineered support structures have been installed to safeguard the pipeline, preventing stress or pressure during operation. "We acted early, not because we were told, but because it was right," Aziz affirmed. CSR That Doesn't Wait for a Verdict One of the clearest reflections of PGB's values is its swift and sustained community response, initiated without waiting for blame to be assigned. Through local authorities, over RM2 million has been channelled into medical aid, property relief and rebuilding support under its Corporate Social Responsibility (CSR) charter. "We didn't wait for a verdict," said the CEO. "People lost homes, peace of mind, and in some cases, their health. That warranted action, not arguments." To date, 55 individuals have received treatment at various hospitals and medical facilities, with PGB covering both billed and uninsured costs. On humanitarian and ex-gratia grounds, RM1.38 million has been extended in financial assistance to affected families. An earlier RM25 million contribution was also made through the Housing and Local Government Ministry for home reconstruction. PGB is collaborating with medical and psychological specialists to roll out a trauma and mental health corporate social responsibility programme for residents impacted emotionally and psychologically. Details will be announced soon. "This isn't just about PGB. We call on other corporations, including property developers, government-linked bodies and industry partners with ties to the community to also come forward. This is a moment to stand together — not just to restore buildings, but to restore dignity, livelihoods and a sense of hope." Urban Safety: Whose Responsibility? While the investigation highlights soil movement as a cause, it has sparked broader questions around land use, drainage systems and development pressures near pipeline corridors. Aziz acknowledged that urban safety cannot rest on a single party. "Urban safety is multi-layered. It involves planners, regulators and developers, not just operators. "That's why we're advocating for a more integrated risk framework that brings all stakeholders to the table to collectively manage long-term risks and resilience." This shift toward shared urban resilience forms the strategic backbone of PGB's response. It's not about denial; it's about defining safety as a system, not a silo. Moving Forward Together: Confidence, Not Closure PGB reaffirmed its ongoing engagements with affected residents, local councils and safety regulators. "We will continue to be visible, responsible, and responsive," Abdul Aziz said. "We will also inform the public, transparently, on our next phases of works and safety enhancement." A key element of this process is reframing community dialogue from conflict to coexistence. "We want to build not just pipelines, but confidence. When people ask, 'Is it safe to live near this infrastructure?' — we want the answer to be backed by data, design and dialogue." Abdul Aziz concluded by reinforcing that this is not about closure: "We're not here to seek closure. We're here to rebuild confidence, through action, not assumption." It's a powerful message — and in a landscape where responsibility is often confused with culpability, PGB's decision to engage directly, empathetically and technically may redefine what responsible corporate leadership looks like.
New Straits Times
01-07-2025
- Business
- New Straits Times
Limited impact on Petronas Gas earnings after pipeline incident
KUALA LUMPUR: CIMB Securities remains upbeat on Petronas Gas Bhd (PetGas), maintaining a "buy" recommendation on the counter despite a projected RM60 million earnings impact from the April 1 pipeline failure in Putra Heights. The research house said PetGas's steady earnings outlook, strong balance sheet and solid dividend yield continue to support its valuation, with a discounted cash flow-based target price unchanged at RM19.08. "At a forecast price-to-earnings ratio of 17.7 times for the financial year 2025, the stock appears fairly priced given its strong fundamentals and stable cash flow profile," it said in a note today. The firm also downplayed concerns over regulatory penalties or third-party liabilities, noting that official investigations had attributed the incident to environmental and geological factors beyond the company's control. The Department of Occupational Safety and Health concluded that unstable soil beneath the gas transmission pipeline led to physical failure and a gas leak, which triggered the fire. Police investigations found no evidence of foul play, while the pipeline was confirmed to have met all technical specifications. Selangor Menteri Besar Datuk Seri Amirudin Shari said the incident was due to multiple environmental factors, including unstable soil, prolonged underground water retention, compromised drainage systems and urban development. PetGas has estimated a total earnings impact of RM60 million for the financial year ending Dec 31, 2025, which will be largely recognised in the second and third quarters. The company expects repair and asset restoration costs to reach approximately RM170 million, with a portion to be capitalised under capital expenditure (capex). Insurance claims are projected to recover less than RM50 million, while revenue loss from service disruption is estimated at around RM20 million. Despite the setback, PetGas is forecast to post a core net profit of RM1.97 billion in financial year 2025, up from RM1.82 billion in 2023. Dividends are expected to increase slightly to 75 sen per share, representing a yield of 4.3 per cent.
