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Hot Stock Gas Malaysia jumps 6.7% on tariff revision
by Cals Mon 28 Dec 2015, 05:10
- Hot Stock
[size=28]Gas Malaysia jumps 6.7% on tariff revision
By Surin Murugiah / theedgemarkets.com | December 23, 2015 : 9:39 AM MYTKUALA LUMPUR (Dec 23): Gas Malaysia Bhd ([You must be registered and logged in to see this image.] Valuation: 1.10, Fundamental: 2.10) shares jumped 6.7% this morning after the company announced yesterday that the government had increased the natural gas tariff for the non-power sector in Peninsular Malaysia by 17.11% on average, which will come into effect on next Friday (Jan 1, 2016).
At 9.19am, Gas Malaysia rose 15 sen to RM2.39 with 44,400 shares traded.
In a filing with Bursa Malaysia, Gas Malaysia said the gas tariff has been increased to RM25.53/mmbtu (million British Thermal Units) from RM21.80/mmbtu.
The tariff for residential consumers, however, has been kept unchanged at RM19.52/mmbtu.
Consumers that use up to 600mmbtu annually, under tariff category B, will see a higher tariff of RM23.78/mmbtu, from RM20.30 previously.
The category C tariff (between 601mmbtu to 5,000mmbtu) will be 17.16% higher at RM23.90/mmbtu, while the category D tariff (between 5,001mmbtu to 50,000mmbtu) will go up 17.18% to RM24.14/mmbtu respectively.
The new tariff for categories E and F stood at RM25.19/mmbtu, from RM21.50/mmbtu previously, while those consuming more than 750,000mmbtu will be charged RM26.03/mmbtu, compared to the previous RM22.22/mmbtu.
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