KUCHING, May 11: Amidst a challenging external environment, Petronas Gas Berhad (PGB) Group of Companies remained resilient in FY2022, achieving a profit after tax (PAT) of RM1.76 billion.
In a media release today, the Group declared total dividend of 72 sen per share for the year, maintaining a healthy dividend payout ratio of 87 per cent as compared to 81.6 per cent in 2021.
The results were announced at PGB’s virtual 40th Annual General Meeting (AGM), held earlier today, to present the Group’s 2022 performance to its shareholders.
The AGM was chaired by PGB’s chairman Adnan Zainal Abidin, with Board members present including PGB’s managing director and chief executive officer Abdul Aziz Othman and PGB’s chief financial officer Shahrul Azham Sukaiman.
During the AGM, Adnan acknowledged the Group’s resilience in facing a challenging external environment, which saw higher fuel gas price and unfavourable foreign exchange movement.
“To mitigate the increasing operating costs from higher fuel gas prices and volatile currency fluctuations, we increased our focus on cost discipline and optimisation measures, while strengthening our operational efficiencies – all of which are to ensure that we operate safely, reliably and efficiently,” he said in the statement.
In 2022, PGB fulfilled its commitments in delivering gas safely across Malaysia leveraging on innovative digital technologies to ensure effective business operations and continuous communication with various stakeholders.
The Group maintained its world class performance and reliability across all its plants and facilities, which ensured steady earnings and healthy profits from long-term contracts under PGB’s Gas Processing, Gas Transportation, Regasification and Utilities segments.
Meanwhile, Abdul Aziz highlighted that the continuous efforts to ensure safe working environment as well as the Group’s commitment to deliver and maintain operational excellence at world class level forms the foundation to pursue growth opportunities to diversify the Group’s business portfolio.
“As the owner of the nation’s integrated gas infrastructure and utilities facilities, PGB remains committed to ensure all our assets are available, reliable, and operating at their optimum. On growing the business, we continued to make good strides forward on identified projects, bringing some to completion as per plan and concurrently identifying potential opportunities.
“In 2023, PGB will continue to navigate our way to deliver gas solutions in a responsible and sustainable manner, while progressing on growth opportunities,” Abdul Aziz added. — DayakDaily
