KLSE: PETGAS (6033)       PETRONAS GAS BHD MAIN : Utilities
Last Price Today's Change   Day's Range   Trading Volume
17.10   +0.10 (0.59%)  16.92 - 17.16  1,003,200
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Market Cap: 33,836 Million
NOSH: 1,979 Million
Avg Volume (4 weeks):885,795
4 Weeks Range:16.60 - 17.20
4 Weeks Price Volatility (%):
52 Weeks Range:15.24 - 18.16
52 Weeks Price Volatility (%):
Average Price Target: 19.43
Price Target Upside/Downside: +2.33

Financial Highlight

Latest Quarter | Ann. Date 30-Jun-2021 [#2]  |  23-Aug-2021
Next QR | Est. Ann. Date: 30-Sep-2021  |  19-Nov-2021
T4Q P/E | EY: 16.51  |  6.06%
T4Q DY | Payout %: 4.50%  |  74.33%
T4Q NAPS | P/NAPS: 6.4419  |  2.65
T4Q NP Margin | ROE: 39.21%  |  16.08%


Date Subject
30-Sep-2021 Utilities - Defensive Prospects
23-Sep-2021 Oil & Gas - Rising hydrogen prospects
18-Sep-2021 上升股:国油气体 阻力RM17.88
08-Sep-2021 油价虽走高 疫情影响 油气业次季释出合约仅22亿
07-Sep-2021 Oil & Gas Sector - Upward earnings trajectory
30-Aug-2021 Oil & Gas - Capex to Rise in 2H21
30-Aug-2021 Oil & Gas - Lower Petronas capex amid stronger results
24-Aug-2021 【行家论股/视频】国油气体 拓新业务无损派息
24-Aug-2021 Petronas Gas - Decent Sustainable 1HFY21
24-Aug-2021 Petronas Gas - 2QFY21 No Surprises
24-Aug-2021 Petronas Gas - Eyeing fresh investments amid capital optimisation
24-Aug-2021 Mplus Market Pulse - 24 Aug 2021
23-Aug-2021 Petronas Gas - Mild adjustment for higher 2QFY21 operating costs
20-Jul-2021 复苏计划推动收入增长 公用股特别息有看头
06-Jul-2021 Utility - Sustaining in trying times
01-Jul-2021 Utilities - Bedrock of Stability
24-Jun-2021 Oil & Gas - Looking at the next supercycle?
04-Jun-2021 Oil & Gas - Improving earnings delivery and prospects
01-Jun-2021 Oil & Gas - Higher product prices drive Petronas’ QoQ rebound
27-May-2021 Petronas Gas - 1QFY21 Slightly Above

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.
stingray_ea buy cheap petgas to hedge inflation when klci drop ..
04/07/2021 8:28 PM
stingray_ea dividend is King at deep price ..

05/07/2021 8:56 AM
Consultant it is possible for pet gas drop to 14
05/07/2021 3:25 PM
lotuseater On what basis - Pls tell me how.. don’t make sweeping statements to scare people..
05/07/2021 5:20 PM
lotuseater Read and understand their business. It’s so easy to be an armchair critic and make irresponsible statements.
05/07/2021 5:21 PM
Banana John yup. someone need to shake out the weak investors and buy in cheaper.
05/07/2021 5:41 PM
stingray_ea US Oil hit new high 76.63 usd ... hope petgas can go further down.

remember buy cheap and deep high dividend yield petgas to hedge inflation
06/07/2021 9:43 AM
stingray_ea US OIL hit new high 76.77 usd . so far so good
06/07/2021 3:02 PM
stingray_ea 76.95 usd
06/07/2021 4:24 PM
unicornbird obs, Petgas has added a new service

LNG Bunkering Vessel (LBV) service, which allows for ship-to-ship LNG transfer to the LBV as well as LNG break-bulking and reloading for smaller LNG vessels.

10/07/2021 3:57 PM
unicornbird Do you have any idea on this?
I think this will be extremely profitable, because Petgas can do tranship for Qatar gas to China ships.
I guess this big fat pie was originally owned by singapore. but now China allow malaysia to share the pie.
10/07/2021 3:59 PM
observatory I'm not familiar with the LNG bunkering service. Do you have any source that indicates the need and market size for such services by third party vessels?

The Annual Report has listed LNG bunkering as one of the several ancillary services offered by Petgas. In 2020 the total revenue from ancillary services was RM3.4 million as compared to group revenue of RM5.6 billion.
11/07/2021 9:56 PM
unicornbird obs, it's estimated to be RM 2billion. let's see if Petgas get any share from these, in the upcoming quarters
12/07/2021 9:30 AM
unicornbird the trade war between US & China should benefit Petgas, because China will need to buy via a US friendly agent. Petronas should get the deal, and the market size is huge.
12/07/2021 9:32 AM
observatory @unicorn,

I searched in 2020 Annual Report. It states that "Launch of LNG Reloading service at RGTSU for PETRONAS LNG bunkering services, the first in Southeast Asia". Basically, PetGas regasification terminal at Sungai Udang works like a gas station for ships. It sells Petronas LNG to LNG-powered vessels, quite similar to PetDag stations selling to LNG-powered taxis.

I've googled to learn more about LNG bunkering. This article explains how bunkering is performed.
Source: https://www.klawlng.com/lng-applications/lng-vessel-bunkering/

LNG-powered vessels become popular because ports have banned/ imposed surcharges on vessels using high sulfur marine fuels in their effort to control air pollution. The second driver is climate change.
Source: https://www.bbc.com/news/uk-scotland-51114275

I don’t think LNG bunkering involves the Sino-American geopolitics.
12/07/2021 12:42 PM
unicornbird you're right. the bunkering is not transshipment. So Petgas only pump fuel for the ships
the market will grow in 10X by 2027. The Sino US clash will result in more China ships choosing to bunker with Petgas, as China try to build up it's own non-US supply chain.

If Petgas really dominate the LNG bunkering market in Straits of melaka, then it's a huge deal. 30% of ships in the world pass through the strait.

Global LNG bunkering market size was valued at $0.38 billion in 2019, and is projected to reach $5.14 billion by 2027, growing at a CAGR of 45.2% from 2020 to 2027. LNG bunkering is the process of transferring LNG to a ship for its own consumption. The advantages of using LNG as a marine fuel in the shipping industry include less shipping emissions, lower operating & shipment costs, safety, non-toxic, and others. Stringent environmental regulation toward pollution caused by ship transportation is expected to be the primary growth factor in the LNG bunkering market
12/07/2021 6:00 PM
unicornbird Petgas may partner Dialog, and use Pengerang for transhipment

LNG trans-shipment: This is a highly likely option. While PLNG-2 is only providing regasification services for now, Petronas Gas stated that the joint venture could also offer such services to ‘other potential third party customers’.
12/07/2021 7:26 PM
observatory Good info.

Globally there were 118 and 143 LNG-powered vessels in 2017 and 2018. Currently this is still a very small market.

Source: https://www.maritime-executive.com/editorials/2019-will-be-the-year-of-acceleration-for-lng-as-marine-fuel

According to the 2020 Annual Report, the LNG bunkering asset has a book value of only RM31 million. The first LNG bunkering only took place as recent as in Oct 2020. We can keep an eye on how fast the business grows in 2021. I would expect more capex spending if this business can really gain traction.

We can also make some guesstimate on the future market potential based on the articles you've shared. Your article forecasts the global LNG bunkering market to reach ~USD5 billion or RM20 billion by 2027. Your other earlier article says MIDA expects Malaysian market size to reach RM2 billion (no timeline given).

Let’s assume the RM2 billion market is completely captured by PetGas. Revenue wise it's sizeable given 2020 revenue was only RM5.6 billion. However this could be a low margin business. If LNG bunkering is like a gas station business as operated by Petronas Dagangan, the net margin is only 2%, or about RM40 million net profit out of RM 2billion revenue. At this scale the net profit will be rather insignificant as compared with 2020 net profit of about RM2 billion.

Actually there are other ancillary services mentioned in the Annual Report, such as the LNG Truck Loading and Gassing Up Cooling Down (GUCD) services. However no indication has been given on how large these non-regulated business could grow to in the future.
12/07/2021 8:02 PM
observatory Based on my limited understanding, the LNG trans-shipment business refers to the GUCD services. The facilities are available in Sungai Udang and Pengerang.
12/07/2021 8:05 PM
unicornbird Bunker = RM 6 b (i made a mistake earlier)
Bunker Net profit = 2% X 6b = 120m
Impact on Petgas Net profit = 120m/2b = 6% (not much)

Let's observe if transhipment can do well. Probably that's better because the volume is much higher
13/07/2021 8:09 AM
kpowersohai fly soon......fund manager accumulating...
19/07/2021 11:15 AM
Banana John flying to south...
22/07/2021 8:46 PM
Banana John below 15 soon.... yeah
24/07/2021 5:45 AM
lionel messi I hope so too but fat hopes.
24/07/2021 10:04 AM
Bgt 9963 Post removed. Why?
24/07/2021 10:20 AM
nnara2401 i wish i had some money to buy now
30/07/2021 5:30 PM
kpowersohai whoever not yet having this stock in your portfolio or not have enough units yet. go to yr calendar and mark 2 august, then topup your brokerage account. once hit 9am this coming 2 August just place order and get whatever amount units u afford to buy.
30/07/2021 6:32 PM
Banana John As mention before
will break 15.
30/07/2021 7:14 PM
Bgt 9963 Post removed. Why?
31/07/2021 9:10 AM
lionel messi I hope so. The cheaper the better. Solid blue chip.
01/08/2021 9:30 AM
Bgt 9963 Post removed. Why?
01/08/2021 10:20 AM
James Ng https://klse.i3investor.com/blogs/general/2021-08-01-story-h1568906147.jsp
[转贴] [Video:浅谈PETRONAS GAS BHD, PETGAS, 6033] - James的股票投资James Share Investing
01/08/2021 7:28 PM
kpowersohai seriously undervalued company.....cincai2 also can at the very least worth rm16 per share. buy when the price dropped....whoever listen to my advice a few days ago now can sleep happily ady.
03/08/2021 8:41 PM
Bgt 9963 Post removed. Why?
03/08/2021 9:22 PM
04/08/2021 4:15 PM
Bgt 9963 Post removed. Why?
04/08/2021 5:02 PM
traintobullland Dividend announcement should be very soon hehe
04/08/2021 11:43 PM
Bgt 9963 Post removed. Why?
11/08/2021 8:55 AM
DickyMe Dzulkefly bin Ahmad for Prime Minister.
16/08/2021 10:23 AM
Keyman188 Blow water never wipe mouth...

Old man always saying...human behavior very very hard to change...

16/08/2021 10:27 AM
thetruthstory today last day to accumulate for dividens
06/09/2021 12:10 PM
Banana John today volume sipek high. seems someone throwing out the share before dividend.
06/09/2021 8:58 PM
kpowersohai Buy low, sell high. Drop lower, buy more! Thats the game plan for counter like petgas.
07/09/2021 11:49 AM
Banana John what happen last minutes shoot so-hai.... something wrong
08/09/2021 7:42 PM
patrico8 Manipulation
08/09/2021 7:46 PM
Banana John another manipulation today... last minute shoot so-hai.
I guess the idea behind is to make klci not so ugly... last 15 minutes transaction around 900k unit and cost around 16m. does it worth to push the index?
17/09/2021 8:40 PM
Banana John hehe... drop to previous level. still got another 15m to push the price?
20/09/2021 4:34 PM
kpowersohai happy with this counter, the best purchase for this year. stock price increases and at the same time collect dividen (passive income). best example of passive income done at the right time.
22/09/2021 7:08 PM
masterus S. crude oil price tops $80 a barrel, the highest since 2014
Pippa Stevens
West Texas Intermediate crude futures topped $80 on Friday for the first time since 2014.
Oil is up more than 60% for 2021 as demand rebounds while supply remains tight.
The Department of Energy said Thursday it has no immediate plans to take action to alleviate the price surge.
09/10/2021 11:06 PM
observatory From yesterday Star


Key takeaways:
1. Revenue and earnings are stable despite spike in global gas price. This is because gas tariffs are regulated and the long term gas processing agreement with Petronas.
2. Despite decarbonization and phasing out of coal, surge in gas demand is only likely after 2030
3. Limited growth as most gas processing and regassification facilities have already been taken up by Petronas.
4. While more demand may come from third-party access agreement as part of Malaysian gas market liberalization, the pace may be slowed down by hike in global spot price.
5. Annual CapEx of ~ RM1 billion in the next 3 years
6. Look into future opportunity like hydrogen and setting up CoGen power plants in industrial parks.
10/10/2021 3:21 PM


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