Latest news with #RM468
BusinessToday
26-05-2025
- Business
- BusinessToday
PGB's Q1 Revenue Dips Slightly, Profit Rises 4% To RM468 Million
Petronas Gas' revenue stood at RM1,594.5 million in 1QFY25, a slight decrease of 1.5% or RM24.3 million mainly attributable to lower revenue from Gas Transportation and Regasification segments following downward tariff adjustment arising from sharing factor for prior year's lower internal gas consumption. Gross profit declined by 4.2% or RM25.5 million due to tighter margins recorded at the Gas Transportation and Regasification segments as a result of lower revenue. PBT increased by 2.4% or RM14.6 million, contributed by a higher share of profit from joint venture companies due to higher repair and maintenance incurred in the corresponding quarter. Profit attributable to equity holders for the quarter rose by 4.2% to RM468 million compared to RM456 million recorded in the previous year's quarter. Looking ahead, 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 on 1 April 2025. All core business segments are anticipated to maintain their strength and continue contributing positively to the Group's earnings. 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 substantialportion of this expenditure will be capitalised as part of the Company's capital expenditure, with partial cost recovery expected from 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. 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, the Group said it is intensifying its focus on robust risk management, operational resilience, and proactive mitigation measures. PGB remains 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. Related
The Sun
25-04-2025
- Automotive
- The Sun
Cars with mini kitchens, other gadgets on show in Shanghai
SHANGHAI: Car manufacturers looking to stand out in China's constantly innovating auto market unveiled cars at Shanghai's auto show this week featuring immersive entertainment, fragrance control, in-car refrigerators and even hot pot cooking equipment. The world's largest and most electrified auto market is mired in a brutal price war, just as a trade spat with the US and electric vehicle tariffs in Europe heighten focus on the domestic market where gadgets are major selling points. 'Chinese customers are expecting a very high level of novelty and new technologies,' said Li Xiang, a marketing expert at EV maker Nio, while demonstrating the '4D digital cockpit' of its 780,000 yuan (RM468,401) ET9 crossover coupe. When watching movies or playing games while parked, the ET9 will move and shake in conjunction with action on the screen. Massage seats and fragrance settings enhance the multi-sensory experience. 'The speed of product enhancement is very, very fast in the Chinese market. So our product launch cadence is actually two or three times faster than the legacy brands,' Li said, adding that he demonstrated the ET9's features to many foreign auto executives throughout the first two days of the Shanghai show. Over 100 models and concept vehicles have been unveiled at the show, with crowds flocking to see Xpeng's experimental 'flying car' – a passenger-carrying drone. In-car fragrance settings were a popular addition to several models, including those of Toyota Motor's premium Lexus brand. The Japanese marque's new ES includes a fragrance system featuring bamboo scent. 'With each breath, it feels as if one is in the depths of a bamboo forest on the outskirts of Kyoto,' Toyota's China general manager Li Hui, said at a press briefing. Perhaps the most unusual feature came from Rox Motor. The Rox 01, an all-terrain luxury SUV priced from 299,900 yuan, aims to capitalise on a trend for camping and outdoor pursuits with a tailgate kitchen extension at 4,999 yuan. The in-car kitchen on display included a refrigerator, a system for heating water in just three seconds and facilities for making tea, coffee and hot pot – a Chinese staple. 'In China, we like hot water, hot tea, and even a hot pot,' Rox's chief strategy officer David Wu explained. Chinese consumers are looking to experience the great outdoors without compromising comfort, Wu said. – Reuters
