KUALA LUMPUR, May 11 (Bernama) -- Amidst challenging external environment, PETRONAS Gas Berhad Group of Companies (PGB or the Group) remained resilient in FY2022, achieving a Profit After Tax (PAT) of RM1.76 billion. The Group declared total dividends of 72 sen per share for the year, maintaining a healthy dividend payout ratio of 87.0 percent as compared to 81.6 percent in 2021.

The results were announced at PGB’s virtual 40th Annual General Meeting (AGM), held earlier today, to present the Group’s 2022 performance to its shareholders. The AGM was chaired by PGB’s Chairman, Adnan Zainal Abidin, with Board members present including PGB’s Managing Director and Chief Executive Officer, Abdul Aziz Othman and PGB’s Chief Financial Officer, Shahrul Azham Sukaiman.

During the AGM, PGB Chairman Adnan Zainal Abidin acknowledged the Group’s resilience in facing a challenging external environment, which saw higher fuel gas price and unfavourable foreign exchange movement. Adnan said, “To mitigate the increasing operating costs from higher fuel gas prices and volatile currency fluctuations, we increased our focus on cost discipline and optimisation measures, while strengthening our operational efficiencies – all of which are to ensure that we operate safely, reliably and efficiently.”

2022 saw PGB fulfil its commitments in delivering gas safely across Malaysia leveraging on innovative digital technologies to ensure effective business operations and continuous communication with various stakeholders. The Group maintained its world class performance and reliability across all its plants and facilities, which ensured steady earnings and healthy profits from long-term contracts under PGB’s Gas Processing, Gas Transportation, Regasification and Utilities segments. This translated into a commendable financial performance for 2022, attesting the Group’s commitment to ensure sustained level of returns to shareholders despite the current challenging economic climate.

PGB’s Managing Director and Chief Executive Officer Abdul Aziz Othman highlighted that the continuous efforts to ensure safe working environment as well as the Group’s commitment to deliver and maintain operational excellence at world class level forms the foundation to pursue growth opportunities to diversify the Group’s business portfolio. PGB’s new strategic agenda drives focus in seizing identified growth opportunities, backed by strong operational excellence, commercial excellence and project excellence to ensure the Group is robust, fundamentally resilient and sustainable, and that can respond quickly to operational and marketplace challenges.

“As the owner of the nation’s integrated gas infrastructure and utilities facilities, PGB remains committed to ensure all our assets are available, reliable, and operating at their optimum. On growing the business, we continued to make good strides forward on identified projects, bringing some to completion as per plan and concurrently identifying potential opportunities. In 2023, PGB will continue to navigate our way to deliver gas solutions in a responsible and sustainable manner, while progressing on growth opportunities,” Abdul Aziz added.
  
Issued by
PETRONAS Gas Berhad

Click here to download photos: AGM 2023 PR - Google Drive
 
SOURCE : PETRONAS Gas Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Nor Iliani Ahmad Nordin 
Tel: +60173341773 
Email: noriliani_nordin@petronas.com 

--BERNAMA