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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.
New Straits Times
29-04-2025
- Business
- New Straits Times
KLCC Property focuses on asset rejuvenation, modernisation
KUALA LUMPUR: KLCC Property Holdings Bhd (KLCCP) is maintaining a selective yet strategic approach as it explores potential new assets as part of its long-term portfolio expansion. The company remains open to opportunities that align with its core strengths and disciplined investment strategy, chairman Datuk Annies Md Ariff said. KLCC Property is exercising prudent capital management, with this year's focus firmly placed on asset rejuvenation and modernisation within the planned budget cycle, he added. "We will continue to maximise our asset potential through regeneration and modernisation efforts, leveraging strategic collaborations to deliver unique customer experiences," he said at a press conference after its annual general meeting today. Chief executive officer Datuk Mohd Salem Kailany said no new acquisitions are currently under consideration. "No current acquisition plans, locally or overseas. Earnings growth will be driven by our core strength and disciplined execution. We remain focused on being a stable, high-yielding and defensive stock. "A major step we took during the year was the acquisition of the remaining 40 per cent equity in Suria KLCC, enabling more dynamic mall management which led to a 99 per cent occupancy rate and over 50 million footfall last year," he added. For the financial year ending December 31, 2024, KLCC Property recorded a 5.7 per cent year-on-year revenue increase to RM1.7 billion, rising from RM1.62 billion in 2023. Its pre-tax profit climbed to RM1.2 billion, a modest 1.2 per cent growth compared to RM1.19 billion in the previous year. In line with the results, the company declared a record high dividend payout of 44.50 sen per stapled security, which is the highest since its listing and represents a 9.9 per cent rise from the previous year. On the hospitality front, Mandarin Oriental Kuala Lumpur recorded a 21 per cent increase in revenue per available room (RevPAR) and a 25 per cent rise in banquet and catering revenue, solidifying its position as a market leader in RevPAR. KLCC Property acknowledged ongoing global uncertainties, including tariff impacts and geopolitical risks. However, it noted that no significant direct effects have been observed thus far. The company clarified that it has no direct involvement or timeline concerning the Bandar Malaysia project. "Bandar Malaysia is not under KLCCP or KLCC Reit. It is with KLCC Holdings Sdn Bhd, and they are currently in the process of putting up a new development plan," Annies said.
