COVID–19 NEWS   Malaysia, India agree on mutual recognition of COVID-19 vaccination certificates | Saudi Arabia lifts COVID-19 precautionary measures | COVID: Malaysia records 0.4 per cent increase in new cases - Health DG | Beijing calls COVID-19 outbreak at upscale bar ‘severe’ | Russian health watchdog detects Omicron subvariant BA.4 in population | 
BUSINESS

Petronas Dagangan and Petros complete business transfer, operationalise Sarawak LPG business

05/05/2022 11:46 AM

KUALA LUMPUR, May 5 (Bernama) -- Petronas Dagangan Bhd (PDB) and Petroleum Sarawak Bhd (PETROS) today announced the completion of the business transfer and share subscription agreement for PETROSNiaga Sdn Bhd.

This conclusion marks the operationalisation of the partnership for the liquefied petroleum gas (LPG) business in Sarawak. 

In a joint statement, the companies said starting today, all (green) Gas Petronas gas-filled cylinders are PETROS’ (red) marketed by PETROSNiaga and all existing Petronas LPG dealers are now PETROS LPG Dealers.

“It is our joint commitment to better serve our LPG customers in Sarawak, by making an essential everyday fuel for Sarawakians, more equitably available, especially for those in the rural areas.

“The operationalising of this strategic partnership fulfills the Sarawak Government’s aspiration for a PETROS-operated LPG business statewide and realising the intent of the State’s Distribution of Gas Ordinance 2016,” PETROS group chief executive officer Janin Girie said.

PDB managing director and chief executive officer Azrul Osman Rani said the company would continue to serve the community in Sarawak.

“The partnership is a strategic move to combine the strengths, experience and competencies of both oil and gas companies to deliver superior service and value for its customers, while elevating the LPG market in the state,” he said.

The completed agreement with PETROS involves the divestment of PDB’s Sarawak LPG business to PNiaga and subscription of 49 per cent equity stake in PNiaga. 

Meanwhile, the PETROSNiaga joint entity features a joint board of directors chaired by Abang Arabi Abang Narudin (senior vice-president – corporate strategy, PETROS) and shareholder representatives from PETROS and PDB.

Existing directors – Bong Siet Fah (PETROS chief financial officer) is joined by the new appointments of Pramela Vallinayagan (head – LPG business, PBD) and Farzlina Ahmad Murad (PDB chief financial officer).

Lai Ah Kiaw is appointed as chief executive officer of PETROSNiaga.

-- BERNAMA

 

TAGS:


NHIZ NHIZ CYC


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy