MMC’s Chief Executive Officer, Malaysia Datuk Hasni Harun said “We are pleased that negotiations with our partner, Petronas, have been successfully concluded. The new gas supply agreement will enable Gas Malaysia to reach out to more industrial customers. Gas will continue to be an important source of fuel to industrial, commercial and residential users. The higher sales volume will also enhance the earnings of Gas Malaysia, a key earnings contributor to MMC, which accounted for 35% of 2008’s profit before tax.”
With the increase in gas supply, Gas Malaysia is expected to expand its gas pipeline network.
Hasni added “We aim to ensure that our businesses continue to operate efficiently and generate the desired financial returns. MMC is well-positioned to capitalize on the domestic growth opportunities and to extract maximum value from our portfolio of assets.”
