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KUALA LUMPUR: Petronas Gas Bhd (PGB) recorded profit after tax of RM1.7 billion despite declining crude oil prices, ringgit depreciation and a challenging economy.

Its chairman Datuk Manharlal Ratilal said 2014 was a strong year for the company in terms of performance and revenue.

“Overall, 2014 was a strong year for PGB as it has generated RM4.4 billion in revenue, a 13 per cent or RM500 million increase from last year.

“Our market capitalization closed at RM44 billion at year end, making PGB one of the largest corporations on Bursa Malaysia. Dividend paid was 55 sen  per ordinary share.”

The improved performance was mainly attributed to its full year operation from its liquefied natural gas (LNG) Regasification Terminal in Sungai Udang, Malacca as well as Gas Transportation Agreements with Petronas.

“Our Kimanis Power Plant in Kimanis, Sabah, which achieved its full commercial operation in November last year has also contributed to the encouraging performance,” said Manharlal.

Its EBITDA was also up 20 per cent to RM3.2 billion with solid total assets worth RM13.2 billion and market capitalization of RM44 billion for its financial year ended December 31, 2014.

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