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Nikkei Markets

UPDATE: Malaysia Petronas Gas 2Q Net Profit Up 5.3% As Margin Improves

By Jason NG and Gho Chee Yuan
Nikkei Markets
Adds earnings
KUALA LUMPUR (Aug 15) -- Petronas Gas, the gas processing arm of Malaysia's national oil and gas firm Petronas, said Tuesday its second quarter net profit grew 5.3% on year on higher gross profit and improved margin across all segments.

Net profit for the three months ended Jun. 30 stood at 425.33 million ringgit ($98.99 million) compared to 403.75 million ringgit a year ago, the company said in an exchange filing. Quarterly revenue rose 4.9% to 1.17 billion ringgit from 1.12 billion ringgit a year earlier.

Petronas Gas said it expects performance to remain stable amidst the challenging economic environment on the back of its strong and sustainable income streams from existing Gas Processing Agreement, Gas Transportation Agreements and Regasification Service Agreement signed with Petroliam Nasional.

Separately, Petronas Gas has appointed Shariza Sharis Yusof as its chief financial officer effective Sep. 1 to replace Aida Aziza Jamaludin who has resigned for transfer to other Petronas companies.
- By Jason NG; Jason.Ng@NikkeiNewsRise.com; +60320267363
- Edited by Lopamudra Bhattacharya
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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