PETALING JAYA: Petronas Gas Bhd
(PetGas) appears well-positioned to capitalise on the anticipated surge in gas demand, underpinned by Malaysia's transition from coal to natural gas and growing power requirements from data centres. As the country's largest gas infrastructure owner and operator, the group has been eyeing new opportunities to expand its regasification, pipeline facilities, and power plant capacity.
According to TA Research, PetGas was “positioned well as one of the key upstream proxies to the transition from coal to gas power as well as data centre-driven demand for power.” The brokerage maintained its “buy” call on PetGas with an unchanged target price of RM20.30 per share, citing a decent dividend yield of 4.7% to 5.5% throughout its forecast horizon.
