Petronas Gas Bhd (PGB) reported a decline in net profit for the first quarter of 2026 to RM438.68 million, down from RM468.79 million recorded in the same period the previous year.
The decline, which was in line with lower gross profit and lower fund investment returns, also saw the group's revenue decline slightly by 0.6 per cent, from RM1.59 billion to RM1.58 billion.
According to PGB, the main reason for the decline in revenue was from the utilities segment due to lower product prices.
However, this impact was partially offset by increased revenue from gas transportation services following tariff adjustments and better contribution from the regasification segment, driven by the liquefied natural gas (LNG) storage service in Pengerang, Johor which commenced operations in August 2025.
Despite recording lower figures, PGB declared a first interim dividend of 16 sen per ordinary share, totaling RM316.6 million, payable on 23 June 2026.
Looking ahead, PGB expects its operations to remain robust throughout 2026. Despite facing significant margin pressure particularly in the utilities segment due to rising gas fuel prices amid global geopolitical uncertainties, the company is optimistic.
Revenue stability is expected to be strongly supported by the transportation, regasification and gas processing segments, which are underpinned by a regulated framework and stable long-term contracts.
PGB is committed to strengthening operational resilience, commercial excellence, and cost optimization, while monitoring potential indirect impacts from geopolitics such as inflation and supply chain disruptions, to ensure quality earnings for shareholders.
