KLSE: PETGAS (6033)       PETRONAS GAS BHD MAIN : Utilities
Last Price Today's Change   Day's Range   Trading Volume
16.42   -0.30 (1.79%)  16.42 - 16.80  382,100
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Market Cap: 32,491 Million
NOSH: 1,979 Million
Avg Volume (4 weeks):785,616
4 Weeks Range:16.40 - 17.42
4 Weeks Price Volatility (%):
52 Weeks Range:16.00 - 18.00
52 Weeks Price Volatility (%):
Average Price Target: 18.92
Price Target Upside/Downside: +2.50

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2022 [#2]  |  26-Aug-2022
Next QR | Est. Ann. Date: 30-Sep-2022  |  22-Nov-2022
T4Q P/E | EY: 17.65  |  5.66%
T4Q DY | Payout %: 4.99%  |  88.16%
T4Q NAPS | P/NAPS: 6.5601  |  2.50
T4Q NP Margin | ROE: 33.30%  |  14.18%


Date Subject
23-Sep-2022 上升股:国油气体 阻力RM17.04
20-Sep-2022 上升股:国油气体 阻力RM17.14
19-Sep-2022 MYETF DJ Islamic 25 - Bursa ETF Watch: Replacing Kossan with CTOS
16-Sep-2022 PetGas: No Proposal, Tender for 'alleged 700km Johor-T'ganu Pipe Replacement'
15-Sep-2022 MQ Market Updates - 15 September 2022
14-Sep-2022 Oil & Gas - Decent earnings ahead from still-elevated oil prices
08-Sep-2022 Utilities - 2QCY22 Results Review: Rock Solid
02-Sep-2022 2QCY22 Report Card - A Soft Patch
01-Sep-2022 Oil & Gas - Higher Petronas capex amid robust 1HFY 22 earnings
31-Aug-2022 How Much Dividends Did Petronas-linked Companies Pay in 1HFY22?
29-Aug-2022 Petronas Gas - 1H22 Numbers a Slight Miss; Still NEUTRAL
29-Aug-2022 Petronas Gas - Higher QoQ revenue growth across all segments
29-Aug-2022 Petronas Gas - Sustainable Dividend Play
29-Aug-2022 Petronas Gas - A Soft Patch at Utilities Unit
29-Aug-2022 Mplus Market Pulse - 29 Aug 2022
26-Aug-2022 MQ Market Updates - 26 August 2022
26-Aug-2022 国油气体次季赚4亿 派息16仙
26-Aug-2022 PetGas net profit eases in Q2 due to prosperity tax
01-Aug-2022 Strategy - Slight rebound on mild foreign equity reversal
21-Jul-2022 Mplus Market Pulse - 21 Jul 2022

Business Background

Petronas Gas Bhd is a Malaysian gas infrastructure and utilities company of which Malaysia’s nationalized oil corporation, PETRONAS, holds a majority interest. Petronas Gas segments its primary operations into Gas Processing, Gas Transportation, Utilities, and Regasification businesses. While each of these contributes significantly to the company’s total revenue, its Gas Processing and Gas Transportation units combine to generate the majority. In Gas Processing, Petronas Gas receives processing fees under multi-year contracts by processing natural gas piped offshore for its parent company, PETRONAS. The Gas Transportation business encompasses the transmission of offshore natural gas through pipelines to customers in Malaysia and Singapore under multi-year agreements with PETRONAS.
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  2 people like this.
observatory It's expected that the industry lobby wants gas to play a greater role.

But according to the government plan, the share of gas in power generation capacity will fall from 45% in 2021 to 36% in 2029, before picking up from 2030 onwards. Refer page 12.


Investors must have patience.
31/12/2021 11:16 PM
Calvin882 Note that the plan is expecting renewable energy will slowly take a bigger portion to replace the non renewable energy such as coal and gas. However, I personally foresee adoption of renewable energy will be slower than expected and companies and power generators will face increasing pressure to phase out coal. Knowing that gas emits 50% less carbon emissions than coal, gas is the next best option that can fill the gap for many years to come.
01/01/2022 7:20 AM
observatory The common obstacle to rapid renewable energy adoption is intermittency problems, which can only be mitigated with advances in energy storage and continent size smart grid that even out fluctuations in power generation.

However Malaysia has the unique advantage (or problem) with too much power generation capacity due to poor planning in the past. Power reserve margin is in the range of 35% to 40%.


Some say the optimum reserve margin should be 15%


The problem is too many coal fired power plants have been commissioned. The last one came online just about a year ago. In order not to prematurely scrap the investment, coal fired power plants will only start phasing out in 2030s and the last one in 2044.

But demand for power is no longer fast growing even after the pandemic. As economy becomes more advanced the energy intensity per unit of GDP declines.

All new power plants will be in the renewable space, and they continue adding to the already abundant spare capacity. There isn't much room for gas plants. Not until coal plants get phasing out.
01/01/2022 1:19 PM
masterus Oil prices could hit US$100 as demand outstrips supply, analysts say

LONDON (Jan 12): Oil prices that rallied 50% in 2021 will power further ahead this year, analysts predict, saying a lack of production capacity and limited investment in the sector could lift crude above US$100 a barrel.
14/01/2022 12:05 PM
investor6688 Post removed. Why?
22/02/2022 4:50 PM
unicornbird why earning drop still pay higher dividend?
23/02/2022 8:26 AM
AhSook AhKou Why not? Prefer money in my pocket than waiting ........
23/02/2022 8:29 AM
unicornbird of cos i like also, but are they doing well?
23/02/2022 8:30 AM
Calvin882 I foresee Petgas will be one of the main beneficiary from global transition to environment friendly energy.
23/02/2022 1:18 PM
observatory The dividend is made up of 22 sen + 10 sen special dividend. The company should continue to pay special dividends in excess of earnings.

Right now it's in a net cash position, which is financially inefficient. PetGas could have taken on a lot more debt with very low interest rate, and return excess capital to shareholders. Just look at Tenaga's gearing level.

Debt servicing interests could be easily met by its stable cash flow.

PetGas business has limited growth prospect. As commented before, it will not benefit from the transition to cleaner fuel, at least not until 2030. The roadmap has already been laid down by the Energy Commission.

The only way to justify current share price is to become more efficient with capital by increasing the debt level.
24/02/2022 12:29 AM
masterus Brent crude oil price already break $100 and above per barrel
28/02/2022 12:36 PM
guppycrow Tapis crude discount on apex sgx and australia aip proxy player. Buy strong front row.
01/03/2022 10:45 AM
unicornbird observatory, any idea why Petgas peak at $24 in 2014, then keep going downtrend over the years?
05/03/2022 12:30 PM
ivanlau ------- quote -----

Dec 26, 2021 8:45 AM | Report Abuse

Worldwide LNG price keep increasing, today closing 17.30 consider undervalue . Fair value in 2022 will be around rm 19 - 20.
---------- unquote ----
today closign 17.70 !!

06/03/2022 7:05 PM
masterus Oil Prices Break $130 As EU And U.S. Allies Consider Ban On Russian Crude
U.S. Secretary of State Antony Blinken has confirmed the United States is talking to its European allies about banning Russian oil imports.
07/03/2022 1:27 PM
jianwei90 if western countries really ban gas import from russia, does petgas enjoy any benefit from this?
08/03/2022 4:54 PM
unicornbird no benefit. Petgas only deliver gas locally
08/03/2022 6:07 PM
jianwei90 if gas price increase worldwide, will it benefit petgas as well?
09/03/2022 9:32 AM
vcinvestor @jianwei90, no. earnings for Petgas governed by the cost pass through mechanism (same as TNB) so increase in commodity price has no net effect on both counters.
09/03/2022 9:37 AM
jianwei90 i see, thanks a lot for the explanation :)
09/03/2022 10:19 AM
Icon 888 Good morning, taiko
24/03/2022 12:43 AM
unicornbird this kind of sure profit company, why the government want to list it?
25/03/2022 4:28 PM
unicornbird the price keep dropping any idea what happen?
30/03/2022 5:38 PM
curiousmonke Anyone know how to claim the AGM door gift?
30/04/2022 6:24 PM
petronasgloves More discount. buy more
19/05/2022 11:53 AM
petronasgloves Best time to picking up
19/05/2022 11:53 AM
unicornbird observatory what do you think of the recent quarter?
20/05/2022 8:50 AM
observatory Higher tax due to Cukai Makmur has been expected.

But the impact of higher fuel gas costs is unexpected. Among PGB four businesses, only Utilities have non pass-through input gas cost. Utilities gross profit has reduced substantially by over 70% YoY, from RM75m to RM22m.

Gross profits have also declined across three other businesses. But according to Hong Leong analyst, "PGB will be able to recoup back the higher fuel cast costs for its Transportation and Regasification segments in subsequent period"

Looking further ahead, need to watch out whether earnings will be reduced under RP2 (Regulatory Period 2) which runs from 2023 to 2025.
20/05/2022 11:57 PM
unicornbird Thanks obs. Do you think Petgas can raise utilities price, to cover higher gas cost?
21/05/2022 11:28 AM
observatory I'm not sure. According to Hong Leong, "tariff pricing is matched to Tenaga’s pricing (reviewed half yearly)"

21/05/2022 5:57 PM
kpowersohai this stock ah if u see carefully the revenue kept increasing over and over the years but the share price kept dropping and dropping, so can u see the disconnection between the share price and the fundamental??
24/05/2022 11:14 PM
unicornbird isn't that good? higher revenue, and lower share price
29/05/2022 4:50 PM
petronasgloves Discount and buy
30/05/2022 3:51 PM
LouiseS PETRONAS GAS,值得投资吗?
31/05/2022 2:34 PM
bullmarket1628 Walaoeh, what happened?
Super damn hot man Petgas today !
Petgas closed at=> RM17.28 (+RM0.66) (+3.97 %) !

Heng ah, Ong ah, Huat ah !
31/05/2022 11:26 PM
petronasgloves 6033 worth the value
02/06/2022 2:35 PM
Icon 888 Wow Oil pass 120
07/06/2022 9:43 AM
subwayzzz yummy
07/06/2022 4:18 PM
petronasgloves heng ong huat
09/06/2022 2:18 PM
bullmarket1628 Petronas ups annual capex to RM60 bil, makes first allocation for clean energy
June 09, 2022 16:20 pm +08


KUALA LUMPUR (June 9): Petroliam Nasional Bhd (Petronas) is allocating about RM60 billion for capital expenditure (capex) in financial year ending Dec 31, 2022 (FY22) compared with RM30.5 billion a year earlier as the Malaysian national oil company prepares for the resumption of business activities, which were earlier disrupted by Covid-19-driven movement restrictions, and as the group sets aside money for clean energy or non-hydrocarbon-related ventures.
"This year, we expect to almost double that [capex] amount which is RM60 billion, because of catch-up and the return of [business] activities. This is also the time we have to make inroads in some material steps into the non-hydrocarbon side of things," Petronas chief financial officer Liza Mustapha said on Thursday (June 9) at the MIDF Conversations event, which was held virtually.
MIDF group managing director Datuk Charon Mokhzani was the moderator for the event.
Liza said that out of Petronas' planned RM60 billion capex allocation for FY22, about RM40 billion has been earmarked for the oil and gas business besides non-hydrocarbon–related operations while the balance of the capex allocation has been earmarked to finance Petronas Chemicals Group Bhd's (PetChem) wholly-owned subsidiary Petronas Chemicals International B.V. (PCIBV) proposed acquisition of the entire stake in Sweden-based specialty chemicals group Perstorp Holding AB for €1.54 billion (about RM7.02 billion) from Financiere Foret S.A.R.L.
Petronas owns a 64.35% stake in PetChem, according to PetChem's latest annual report.
Looking ahead, Liza said non-hydrocarbon-related income is expected to account for about 30% of Petronas' revenue.
"[About] 30% of our revenue should be coming from something which is not related to hydrocarbons.
"We have to factor in [business] growth, otherwise, we will not be able to manage the energy transition and we will miss our target of achieving [net] zero [carbon] emissions by 2050," she said.
According to her, about 10% of Petronas' RM60 billion capex allocation for FY22 will be earmarked for non-traditional businesses such as specialty chemicals and solar energy.
"Previously, I think there was never a plan on what rate it should be [for the clean energy segment] because there was no allocation from the top. So, it didn't really take off.
"So, we need to rethink our decision on the capital allocation [for the clean energy segment] and put it aside, because if we leave it at that and let them go with the flow, we are going to be a year behind the target again," she said.
Petronas' financials improved in 1QFY22. In a statement on May 31, 2022, Petronas said profit after tax rose to RM23.44 billion in 1QFY22 from RM9.22 billion a year earlier while revenue climbed to RM78.75 billion from RM52.55 billion.
"Despite favourable [first quarter] performance, the high oil and gas prices are expected to remain vulnerable with increased volatility due to geopolitical and macro-economic uncertainties.
"Petronas will continue to strengthen our operational excellence to maximise value creation whilst intensifying our growth and sustainability agenda in Malaysia and internationally,” the company said.

Edited By: Chong Jin Hun
10/06/2022 7:16 AM
investor2021trading a gud stock to consider! just wait for better price!
10/06/2022 7:42 AM
petronasgloves yup, keep while low
10/06/2022 12:00 PM
James Ng [转贴] [Video:浅谈PETRONAS GAS BERHAD, PETGAS, 6033] - James的股票投资James Share Investing
18/06/2022 7:18 AM
petronasgloves Oil price going to second wave soon ?
12/07/2022 11:41 AM
ironstockhunter Hahaha, 2nd wave in your dream maybe
12/07/2022 5:38 PM
NatsukoMishima Seizure assets of petronas , what happened ?
13/07/2022 12:56 PM
kyliew Breaking News!!!!!
US enters technical recession as economy shrank 0.9% in Q2
28/07/2022 10:09 PM
investor2021trading why vy few investors interested?
29/07/2022 10:58 AM
investor2021trading price should LU n gauged demand when regasification facility (converting liquefied natural gas to natural gas) in Melaka commenced after September '22.

RGTSU (Regasification Terminal Sungai Udang) is known as the world's first-of-its-kind regasification unit on an island jetty, according to PetGas.

29/07/2022 11:15 AM
bullmarket1628 Walaoeh, oil price continue it’s uptrend !
Brent closed at=> $88.56 +0.56 +0.64 %

Like that today Petgas will be limit up already liao lah !

Heng ah, Ong ah, Huat ah !
09/09/2022 6:33 AM

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