KUALA LUMPUR — Nov. 30, 2018: The net profit of Petronas Gas in the third quarter ended last September 30 rose to RM499.81 million from RM417.43 million a year ago.
Revenue jumped to RM1.40 billion from RM1.16 billion during the same period, the company informed Bursa Malaysia in a filing.
Top-line performance grew by 20.5 per cent or RM238.6 million, mainly contributed by the group’s new liquefied natural gas regasification terminal in Pengerang, Johor, which commenced commercial operations last November.
This was further supported by higher revenue from all segments.
With the Energy Commission confirming that current tariffs for the group’s gas transportation and regasification services will be maintained until the end of the year, Petronas Gas said its performance is therefore expected to remain stable on the back of strong and sustainable income streams from existing gas processing agreement, gas transportation agreements and regasification service agreement signed (with Petronas).
“The group’s results will benefit from full year contribution from the new LNG Regasification Terminal in Pengerang.
“We are awaiting approval from the Energy Commission for the 2019 tariffs for gas transportation and regasification services which is expected to be announced by year-end.”
The board has approved a third interim dividend of 18 sen per ordinary share amounting to RM356.2 million in respect of the financial year ending December 31 which will be paid on Dec. 27. — Bernama