Gas Malaysia 4Q23 net profit to rise 3%

KUALA LUMPUR: Gas Malaysia Bhd’s net profit for the fourth quarter ended Dec 31, 2023 (4Q23) is expected to inch up 3% sequentially backed by a higher sales volume coupled with better gas selling prices.

“We expect Gas Malaysia’s 4Q23 net profit to come in at about RM88mil (+3% QoQ), bringing cumulative FY23F net profit to about RM367mil which will be in line with our forecast,” Kenanga Research said in a report.