KUALA LUMPUR / KUCHING, May 5 (Bernama) -- PETRONAS Dagangan Berhad (PDB) and Petroleum Sarawak Berhad (PETROS) today announced the completion of the Business Transfer and Share Subscription Agreement (“BTSSA”) for PETROSNiaga Sdn Bhd (PNiaga). This conclusion marks the operationalisation of the partnership for the Liquefied Petroleum Gas (LPG) business in Sarawak.
 
Starting today, all (green) Gas PETRONAS gas-filled cylinders are PETROS’ (red) marketed by PETROSNiaga, and all existing PETRONAS LPG dealers are now PETROS LPG Dealers.
 
Janin Girie, Group Chief Executive Officer of PETROS said, "It is our joint commitment to better serve our LPG customers in Sarawak, by making an essential everyday fuel for Sarawakians, more equitably available, especially for those in rural areas. The operationalising of this strategic partnership fulfills the Sarawak Government’s aspiration for a PETROS-operated LPG business statewide and realising the intent of the State’s Distribution of Gas Ordinance 2016.”
 
PDB Managing Director and Chief Executive Officer, Azrul Osman Rani said, “We at PDB are committed to continue to serve the community in Sarawak. The partnership is a strategic move to combine the strengths, experience and competencies of both oil and gas companies to deliver superior service and value for its customers, while elevating the LPG market in the state.”
 
The completed BTSSA with PETROS involves the divestment of PDB’s Sarawak LPG Business to PNiaga and subscription of 49% equity stake in PNiaga.
 
 
Board and Leadership Announcements at PETROSNiaga Sdn Bhd
 
The joint entity features a joint Board of Directors chaired by Abang Arabi bin Abang Narudin (Senior Vice President – Corporate Strategy, PETROS) and Shareholder Representatives from PETROS and PDB.
 
Existing Director – Bong Siet Fah (Chief Financial Officer, PETROS) is joined by the new appointments of Pramela Vallinayagan (Head – LPG Business, PBD) and Farzlina Ahmad Murad​ (Chief Financial Officer, PDB).
 
Lai Ah Kiaw is appointed Chief Executive Officer of PETROSNiaga Sdn Bhd.

ABOUT PETRONAS DAGANGAN BERHAD
PETRONAS Dagangan Berhad is the principal domestic marketing arm of Petroliam Nasional Berhad (PETRONAS), the national oil company, which holds 63.94% of its equity. Incorporated in Malaysia under the Companies Act 1965 on 5 August 1982 and listed on the Main Board of Bursa Malaysia on 8 March 1994, PDB has since established itself as Malaysia’s leading retailer and marketer of downstream oil and gas products.
 
The Company markets a wide range of high-quality petroleum products including motor gasoline, aviation fuel, kerosene, diesel, fuel oil, bunker fuel, lubricants, liquefied natural gas (LNG) liquefied petroleum gas (LPG) and bitumen in Malaysia.  
 
Since 2015, PDB has been certified as a constituent company member of FTSE4Good Index Series – a testament to the Company’s demonstration of strong environmental, social and governance practices measured against globally recognised standard.
 
 
ABOUT PETROLEUM SARAWAK BERHAD
 
PETROS – Sarawak’s Petroleum Company
Petroleum Sarawak Berhad – PETROS, is Sarawak’s State-owned Oil & Gas Company.  An integrated player throughout the oil and natural gas value chain, we are committed to harnessing her resources for sustainable progress of Sarawak. PETROS was incorporated in July 2017 under the Companies Act 2016 and headquartered in Kuching, Sarawak with a lean and rapidly growing workforce to deliver on our value creation strategy and footprint ambitions.
 
PETROSNiaga Sdn Bhd (PETROSNiaga) is a wholly owned marketing and distribution subsidiary of PETROS. PETROS LPG entered the domestic liquefied petroleum gas (LPG) market on 4 August 2021 PETROS LPG gas filled cylinders first serve areas of Kuching (Petrajaya, Matang, BDC and Tabuan), Padawan and Bau and will gradually expand state-wide.
 
Source: PETRONAS DAGANGAN BERHAD

FOR MORE INFORMATION, PLEASE CONTACT:
PETRONAS
Name: Esha Lim Hwee Nee
Tel: 012-4120 117
Email: eshalim.hweenee@petronas.com
 
PETROS
Name: Karen R Yap 
Tel: 012 292 6780
Email: karenryap@petroleumsarawak.com

--BERNAMA