PetDag sees rising demand for bitumen

KUALA LUMPUR: Petronas Dagangan Bhd (PetDag) expects its bitumen segment, which contributed significantly to its profits in 2015, to see continued increase in demand in FY16.

PetDag CEO and managing director Mohd Ibrahimnuddin Yunus said they estimated a 3% growth in demand for bitumen this year.

This follows PetDag’s 33% increase in sales volume for the bitumen segment in 2014, compared to the previous year .

Speaking to reporters after the company’s AGM on Wednesday, he said the bitumen segment had contributed to 15% of the profits in the overall commercial business.

The commercial business contributed 40% of PetDag’s net profit in FY15.
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