(L-R) Managing Director/Chief Executive Officer PGB Kamal Bahrin Ahmad, Chairman PGB Datuk Mohd Anuar Taib, Chief Financial Officer PGB Shariza Sharis Mohd YusofKUALA LUMPUR, April 30 (Bernama) -- PETRONAS Gas Berhad (PGB) closes 2018 with the highest ever dividend of 72 sen per share, representing a payout ratio of 79%.
Speaking after the company’s 36
th Annual General Meeting (AGM), Managing Director/Chief Executive Officer Kamal Bahrin Ahmad said the higher dividend was on the back of a strong performance derived from high operating efficiencies.
He added that this was boosted by additional revenue from a full-year’s operation of its Liquefied Natural Gas (LNG) Regasification Terminal Pengerang (RGTP), which was commissioned in November 2017.
PGB recorded an all-time high revenue of RM5.5 billion and gross profit of RM2.5 billion, the latter marking a 14% increase from RM2.2 billion in 2017.
The Malaysia’s gas market liberalisation, which was implemented since January last year, has opened the company’s gas transportation and regasification businesses to gas suppliers.
The incentive-based regulation, which aims to provide a more level-playing field while attracting new players to enter the domestic gas market, however does not impact its gas processing and utilities segments.
“PGB welcomes more players to use its facilities, as the company is well-positioned to provide the energy bridge for gas suppliers to deliver their volume to customers,” said Kamal Bahrin.
Post-completion of RGTP and the Air Separation Unit projects, both at the Pengerang Integrated Complex in Johor, PGB is poised for new growth opportunities that would leverage on its proven track record, industry experience and technical expertise.
The Company recently announced its new offering of gassing up cooling down services at RGTP, as well as its intention to build an additional nitrogen generation unit at Kertih, Terengganu to serve new customers.
“We are excited to embark on “301Q99 Pushing Forward” programme, which will strengthen PGB’s position as a safe, reliable and efficient gas infrastructure company, besides becoming more competitive to pursue potential new income streams,” he said, adding that the company’s aspiration is to be a preferred progressive energy and solutions partner to its stakeholders.
About PETRONAS Gas Berhad PETRONAS Gas Berhad (PGB) was incorporated in 1983 as a wholly-owned subsidiary of PETRONAS and listed on the main market of Bursa Malaysia on 4 September 1995. The Company is 60.66% owned by PETRONAS, while the remaining shares are held by other institutional investors and retail shareholders.
It is Malaysia’s leading Gas Infrastructure and Utilities company with core businesses in Gas Processing, Gas Transmission and Regasification. PGB processes natural gas piped from offshore fields and transports the processed gas via the Peninsular Gas Utilisation (PGU) pipeline network to PETRONAS’ customers in Malaysia and Singapore.
In addition, PGB also supplies steam, power and industrial gases for its customers at Kerteh Integrated Petrochemical Complex in Terengganu and Gebeng Industrial Area in Pahang.
Issued by:
Corporate AffairsPETRONAS Gas Berhad
Source: PETRONAS Gas Berhad
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--BERNAMA
