PetGas said the losses from KPSB(file pic shows Kimanis Power plant) were due to a de-recognition of deferred tax assets (DTA) in relation to certain tax benefits, which now have a seven-year utilisation limit under the new Finance Act 2018. Its net profit rose just 1% to RM1.81bil from RM1.79bil in FY17.
PETALING JAYA: Petronas Gas Bhd
(PetGas) posted a marginal increase in net profit to RM1.81bil for its financial year 2018 ended Dec 31 (FY18), weighed down by a share of losses from joint-venture company Kimanis Power Sdn Bhd (KPSB).
PetGas said the losses from KPSB were due to a de-recognition of deferred tax assets (DTA) in relation to certain tax benefits, which now have a seven-year utilisation limit under the new Finance Act 2018.
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