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Hot Stock PetGas rises 0.6%, RM3 bil gas terminal in focus
by Cals Fri 17 May 2013, 11:56
Hot Stock PetGas rises 0.6%, RM3 bil gas terminal in focus
Business & Markets 2013
Written by Fatin Rasyiqah Mustaza of theedgemalaysia.com
Friday, 17 May 2013 11:34
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KUALA LUMPUR (May 17): PETRONAS GAS BHD [] (PetGas) rose among top gainers in morning trade after the firm announced that its RM3 billion regasification terminal in Sg Udang, Melaka is up and running.
At 10.45am, PetGas rose 12 sen or 0.55% to RM22.02 with some 128,200 shares traded. The stock was changed hands at RM22 at 11.13am.
PetGas managing director and CEO Samsudin Miskon said yesterday the firm had commsssioned the terminal since April 30 this year.
He expects the terminal to contribute positively to the company’s results in financial year ending December 31, 2013.
“We are expecting a 4% to 5% contribution to our bottom line for the second half of the current financial year and about 10% contribution annually,” he said then.
The terminal has a minimum capacity of 3.8 million tonnes per annum. It was built to resolve the supply shortage of natural gas in the country.
PetGas has allocated RM8.1 billion for capital expenditure (capex) for the next five years. This is mainly to fund its regasification terminals in Sabah's Lahad Datu enclave and Pengerang, Johor
Business & Markets 2013
Written by Fatin Rasyiqah Mustaza of theedgemalaysia.com
Friday, 17 May 2013 11:34
A + / A - / Reset
KUALA LUMPUR (May 17): PETRONAS GAS BHD [] (PetGas) rose among top gainers in morning trade after the firm announced that its RM3 billion regasification terminal in Sg Udang, Melaka is up and running.
At 10.45am, PetGas rose 12 sen or 0.55% to RM22.02 with some 128,200 shares traded. The stock was changed hands at RM22 at 11.13am.
PetGas managing director and CEO Samsudin Miskon said yesterday the firm had commsssioned the terminal since April 30 this year.
He expects the terminal to contribute positively to the company’s results in financial year ending December 31, 2013.
“We are expecting a 4% to 5% contribution to our bottom line for the second half of the current financial year and about 10% contribution annually,” he said then.
The terminal has a minimum capacity of 3.8 million tonnes per annum. It was built to resolve the supply shortage of natural gas in the country.
PetGas has allocated RM8.1 billion for capital expenditure (capex) for the next five years. This is mainly to fund its regasification terminals in Sabah's Lahad Datu enclave and Pengerang, Johor
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