KUALA LUMPUR: Petronas Gas Bhd
(PetGas) said it is expecting a resilient 2026 despite margin pressures in the utilities segment, amid higher fuel gas prices and global geopolitical uncertainties.
It said in comments accompanying its results filing with Bursa Malaysia that contributions from the gas transport, regasification and gas processing segments are expected to continue providing earnings stability, underpinned by the regulated framework and stable long-term contracts.
"Nevertheless, the group remains attentive to potential indirect impacts from geopolitical developments, including inflationary pressures and supply chain disruptions," it said.
In 1QFY26, PetGas posted a lower net profit of RM438.69mil in the first quarter of 2026 (1QFY26) as compared to RM468.8mil in the year-ago quarter, in line with lower quarterly revenue and higher operating expenses.
Earnings per share slipped to 22.17 sen in the current quarter from 23.69 sen in 1QFY25.
Quarterly revenue was slightly lower at RM1.585bil as compared to RM1.594bil in the previous comparative quarter as the utilities segment made a lower revenue contribution due to lower product prices.
However, this was cushioned by higher revenue from the gas transport segment following an upward tariff adjustment and increased contribution from regasification segment arising from LNG storage services at Pengerang, Johor, which commenced in August 2025.
The group added that higher operating expenses during the quarter were mainly driven by increased depreciation across all segments as well as higher level of repair and maintenance activities in the gas processing segment.
The group declared a first interim dividend of 16 sen per share for shareholders on the record of depositors as at June 11, 2026, payable on June 23, 2026.
