KUALA LUMPUR: Petronas Gas Bhd (PGB) remained resilient in financial year 2022 (FY22), achieving a profit after tax (PAT) of RM1.76 billion and declared total dividends of 72 sen per share for the year, maintaining a healthy payout ratio of 87% compared with 81.6% in 2021.
At PGB’s virtual 40th annual general meeting (AGM) today, chairman Adnan Zainal Abidin acknowledged the group’s resilience in facing a challenging external environment, which saw higher fuel gas price and unfavourable foreign exchange movements.
“To mitigate the increasing operating costs from higher fuel gas prices and volatile currency fluctuations, we increased our focus on cost discipline and optimisation measures, while strengthening our operational efficiencies – all of which are to ensure that we operate safely, reliably and efficiently,” he said.
PGB managing director and CEO Abdul Aziz Othman highlighted that continuous efforts to ensure a safe working environment as well as commitment to deliver and maintain operational excellence at world class level form the foundation to pursue growth opportunities to diversify the group’s business portfolio.
He said PGB’s new strategic agenda drives focus in seizing identified growth opportunities, backed by strong operational excellence, commercial excellence and project excellence to ensure the group is robust, fundamentally resilient and sustainable, and that can respond quickly to operational and marketplace challenges.
“As the owner of the nation’s integrated gas infrastructure and utilities facilities, PGB remains committed to ensure all our assets are available, reliable, and operating at their optimum. On growing the business, we continued to make good strides forward on identified projects, bringing some to completion as per plan and concurrently identifying potential opportunities. In 2023, PGB will continue to navigate our way to deliver gas solutions in a responsible and sustainable manner, while progressing on growth opportunities,” Abdul Aziz added.
