KUALA LUMPUR, Aug 23 (Bernama) — PETRONAS Gas Berhad (PGB) closed the first half of 2021 with Profit After Tax (PAT) of RM1.0 billion, a 9% improvement compared to the same period last year. The solid performance was delivered on the back of improved margins from the Utilities business segment, further supported by favourable foreign exchange movement.
The results were commendable, proving PGB’s resilience due to its long-term contracts which ensure stable earnings from Gas Processing, Gas Transportation and Regasification segments. Additionally, Utilities segment has benefitted from the change in fuel gas pricing from regulated to reference market price effective November 2020 amidst higher volumes from existing and new customers.
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