Petronas Gas Bhd's (PGB) Pengerang Gas Pipeline project is on track and expected to be completed this year, said chairman Tan Sri Shamsul Azhar Abbas.
He said the project would enable the initial supply of gas from the existing Peninsular Gas Utilisation (PGU) pipeline network to Pengerang and vice versa.
"In addition, the group is expected to achieve final investment decision by the second quarter of 2016 for its Air Separation Unit project, also in Pengerang, for which the heads of agreement was signed in 2014," he told the media after the group's annual general meeting here today.
According to Shamsul Azhar, those are among the growth projects that keep the utility company busy this year onwards.
Although facing a challenging time, PGB managed to secure positive results for the 2015 financial year, he said.
Its revenue was sustained at RM4.5 billion last year, up 1.5 percent from RM4.4 billion in 2014, while profit rose 7.8 percent to RM2 billion mainly due to the tax incentives for the plant rejuvenation and revamp project that was fully completed in early 2015.
He also said PGB's regasification terminal in Pengerang should be fully commissioned by the first quarter of 2018.
"At this point of time, it is about 25 percent completed," he said, adding that the project would likely contribute to the company's growth in terms of income and profitability moving forward.
On capital expenditure, he said PGB, which undertook a loan of US$500 million or RM2.2 billion from Mizuho Bank Ltd early this year, would use the bulk of the loan for its projects and also as a reserve for maintenance.
Asked on the demand for gas in Malaysia moving forward, Shamsul Azhar said PGB does not see demand for gas in the country reducing.
"In fact we are investing in a regasification terminal in Pengerang to basically cater for additional gas which will cater for future requirements," he added.
PGB's resilience, coupled with support from its shareholders, have enabled it to achieve an increase in market capitalisation to RM45 billion as at end-2015, further bolstering the prominence of the firm's corporate branding in Malaysia.
A dividend of 60 sen per ordinary share for the year was approved, representing a normalised dividend payout ratio of 77 percent – a level that is on par with, if not better than, the industry average.
Bernama
Tue Apr 26 2016
PGB's regasification terminal in Pengerang should be fully commissioned by the first quarter of 2018, the company says. - Petronasgas.com
KPN ucap takziah kepada keluarga Tun Hanif Omar
Razarudin mewakili keluarga Sang Saka Biru mengucapkan takziah kepada keluarga bekas KPN Tun Mohammed Hanif Omar.
Sofia Jane raih anugerah Pelakon Wanita Terbaik di Festival Filem Asia ke-21
Secara keseluruhan naskhah arahan Badrul Hisham Ismail itu juga berjaya merangkul Anugerah Most Original Film.
Mesir, rakan usaha dapatkan gencatan senjata di Gaza
Mesir sedang berusaha mendapatkan satu gencatan senjata di Semenanjung Gaza dengan sokongan Amerika Syarikat (AS) dan Qatar, kata Menteri Luar Mesir, Sameh Shoukry pada Jumaat.
MediaTek lancar cip Dimensity 6300 dengan teknologi 6nm
Ia dihasilkan dengan teknologi 6nm TSMC dengan konfigurasi dua teras Cortex-A76 sehingga 2.4GHz dan enam teras Cortex A55 sehingga 2.0GHz.
Filem Sheriff pamer sisi berbeza Kamal Affandi sebagai pegawai polis
Filem Sheriff menemui penonton di pawagam mulai 18 April.
Bursa Malaysia dijangka mengalami keadaan tidak banyak berubah minggu depan
FBM KLCI dijangka turun naik dalam julat 1,528 hingga 1,560 minggu depan, dengan sokongan serta-merta pada 1,520, diikuti oleh 1,508.
Noktah kemiskinan tegar, isu kewarganegaraan dibincang bersama MPN PKR Sabah
Anwar yang juga Presiden PKR berkata MPN PKR Sabah telah mengutarakan kepentingan memesatkan usaha menoktahkan kemiskinan tegar di Sabah.
Tun Hanif Omar lakar sejarah Ketua Polis Negara paling lama, termuda
Allahyarham dilantik memegang jawatan Ketua Polis Negara keempat pada usia 35 tahun bermula 8 Jun 1974.
AWANI Ringkas: PM di Sabah, lawatan kerja sehari
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
Amelia Henderson jawab tuduhan pakai rantai dengan loket salib
Aktres i.D berikut menerima kecaman kerana memakai loket balerina yang disalah erti oleh warga maya dengan lambang salib.