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PETRONAS GAS BERHAD

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Malaysia's Petronas Gas to build new gas compressor station by Q1 2024

12/08/2021 | 05:28am EDT
Petronas logos are pictured at a fuel station in Serdang

KUALA LUMPUR (Reuters) - Malaysia's Petronas Gas on Wednesday said it has approved a final investment decision for the construction of a new gas compressor station in the southern state of Johor.

The station in Kluang, Johor, is to be completed in the first quarter of 2024 with an aim to increase the gas capacity of the Peninsular Gas Utilisation II gas pipeline network, the firm said in a bourse listing.

Petronas Gas, a unit of state-owned Petronas Group, said the investment for the project is estimated at 460 million ringgit ($109 million).

It said it will use its existing Islamic financing facility from RHB Islamic Bank Berhad to fund the project and hence it will have no impact on the group's earnings per share, net assets per share or gearing for the 2021 financial year.

($1 = 4.2230 ringgit)

(Reporting by Mei Mei Chu; editing by Jason Neely)


© Reuters 2021
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Financials
Sales 2022 5 719 M 1 306 M 1 306 M
Net income 2022 1 933 M 441 M 441 M
Net cash 2022 546 M 125 M 125 M
P/E ratio 2022 17,2x
Yield 2022 4,91%
Capitalization 33 045 M 7 546 M 7 546 M
EV / Sales 2022 5,68x
EV / Sales 2023 5,73x
Nbr of Employees 1 829
Free-Float 25,1%
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Number of Analysts 12
Last Close Price 16,70 MYR
Average target price 18,45 MYR
Spread / Average Target 10,5%
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Managers and Directors
Abdul Aziz bin Othman Chief Executive Officer, MD & Director
Puan Shariza Sharis binti Mohd Yusof Chief Financial Officer
Adnan Zainal Abidin Chairman
Habibah binti Abdul Senior Independent Non-Executive Director
Abdul Razak Bin Abdul Majid Independent Non-Executive Director
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