Gas Malaysia sets aside RM500m

New Straits Times - - Business -

KUALA LUMPUR: Gas Malaysia Bhd is al­lo­cat­ing RM500 mil­lion in cap­i­tal ex­pen­di­ture (capex) this year to ex­tend its nat­u­ral gas distri­bu­tion sys­tem net­work in the next three years.

Chief ex­ec­u­tive of­fi­cer Ah­mad Hashimi Ab­dul Manap said this was in line with the com­pany’s goal of achiev­ing higher sales vol­ume growth.

An ad­di­tional RM1 mil­lion in capex would be al­lo­cated af­ter five years as he is op­ti­mistic that the nat­u­ral gas in­dus­try out­look will con­tinue to re­main bright.

“We be­lieve the pic­ture of the nat­u­ral gas in­dus­try was good. Even though we have had a very chal­leng­ing year, but for this year we still reg­is­tered a vol­ume growth of 3.3 per cent, so given a bet­ter sit­u­a­tion I be­lieve the vol­ume would grow big­ger,” he said, here, yes­ter­day.

This year, Ah­mad Hashimi ex­pects a vol­ume growth of 3.4 to 4.0 per cent, higher than last year’s 3.26 per cent.

“More and more cus­tomers and in­dus­try play­ers are us­ing gas. Gas is not just cheap but a good al­ter­na­tive fuel which is en­vi­ron­men­tal­lyfriendly, safe and clean,” he said.

Ah­mad Hashimi said the com­pany plans to con­tinue its pub­licpri­vate part­ner­ship con­cept, sim­i­lar to the RM180 mil­lion Kinta Val­ley nat­u­ral gas distri­bu­tion pipe­line project in Perak, Negeri Sem­bi­lan, Kedah and Perlis.

To date, he said the com­pany has ex­tended its gas distri­bu­tion net­work to 2,186km, ser­vic­ing more ar­eas while main­tain­ing its 99 per cent re­li­a­bil­ity.

Ah­mad Hashimi said the com­pany’s new ven­ture in the ar­eas of com­bined heat and power, vir­tual pipe­line and bio com­pressed nat­u­ral gas will also start con­tribut­ing pos­i­tively to the com­pany’s rev­enue. Amir Hisyam Rasid

Ah­mad Hashimi Ab­dul Manap

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.