Gas Malaysia 4Q23 net profit forecast to rise 3%

Kenanga Research expects Gas Malaysia’s 4Q23 net profit to come in at about RM88mil.

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% rise quarter-on-quarter), bringing cumulative financial year 2023 (FY23) net profit to about RM367mil, which will be in line with our forecast,” Kenanga Research said in a report.