Gas Malaysia’s net profit rises to RM190.10m for FY19

KUALA LUMPUR, Feb 13 — Gas Malaysia Bhd’s net profit for the financial year ended Dec 31, 2019 (FY19) rose to RM190.10 million from RM180.39 million recorded a year ago.

Revenue increased to RM6.89 billion from RM6.23 billion previously, primarily driven by the increase in volume of natural gas sold and revision in natural gas tariff.

In a filing with Bursa Malaysia today, the group anticipated that the yearly increase in natural gas sale volume and number of customers to be sustained for the financial year 2020 (FY20).

“The group’s profitability for FY20 is expected to be in tandem with the level reflecting the prevailing tariff setting mechanism framework,” it added. — Bernama