KUALA LUMPUR, May 17 (Bernama) -- Petronas Gas Bhd (PetGas) has reported a higher net profit of RM505.35 million for the first quarter ended March 31, 2018 compared with RM463.16 million in the previous corresponding quarter.
Revenue for the quarter rose to RM1.35 billion from RM1.17 billion, mainly contributed by the group's new liquefied natural gas regasification terminal in Pengerang, Johor, which commenced commercial operations in November 2017, and supported by higher revenue from all segments.
In a filing with Bursa Malaysia today, PetGas said revenue from the regasification segment surged by RM135.3 million, or 82 per cent, to RM299.6 million compared with RM164.3 million in the same quarter in 2017, primarily contributed by the regasification terminal in Pengerang.
"The group continues to record strong operational performance. Notably, the gas processing, transportation and regasification plants continue to perform well at above 99 per cent reliability," it said.
PetGas also said the group's gas processing plants achieved 100 per cent reliability which contributed towards higher performance-based structure income compared to the last corresponding quarter.....