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Retail Asia28/02/2019

Petronas Chemicals Group Bhd’s share price up 0.66% or 6 sen this morning, after its net profit jumped 27.9% to RM1.29 billion for the fourth quarter ended Dec 31, 2018 (Q4). As at 11.56am, the stock stood at RM9.22 with 2.93 million shares changing hands. The group said the higher profit was due to lower […]

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Retail Asia20/02/2019

Petronas Gas Bhd’s net profit fourth quarter ended Dec 31, 2018 fell 34.7% to RM317.90 million from RM486.70 million a year ago, largely attributed to share of losses from a joint venture company, Kimanis Power Sdn Bhd. The losses were due to de-recognition of deferred tax assets amounting to RM124.3 million (being 60% share of […]

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Retail Asia09/01/2019

Malaysian state oil company Petroliam Nasional Bhd (Petronas) started trial runs at the crude distillation unit (CDU) for a joint-venture refinery with Saudi Aramco in Malaysia last week, two sources with knowledge of the matter said this week. The move marks a major milestone for the US$2.7 billion (RM11 billion) project known as Rapid – […]

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Retail Asia31/12/2018

Petroliam Nasional Bhd (Petronas), through its subsidiary, PC Oman Ventures Ltd (PCOVL) has acquired a 10% stake in Block 61, onshore Oman from Makarim Gas Development LLC (MGD), after the conditions for the completion of the transaction were fulfilled. MGD is a subsidiary of Oman Oil Company Exploration & Production LLC. Petronas said the completion […]

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Retail Asia30/11/2018

LNG Canada, the US$30 billion (RM125.7 billion) liquefied natural gas (LNG) export project, has bagged another client after project shareholder Petroliam Nasional Bhd (Petronas) signed an initial sales deal with trading house Vitol. Royal Dutch Shell decided in October to construct the export terminal. It was the first major investment decision in a new North […]

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Retail Asia28/11/2018

Petroliam Nasional Bhd’s (Petronas) net profit for the third quarter ended Sept 30, 2018 rose 43% to RM14.3 billion from RM10 billion a year ago due to higher revenue. The group said in a statement today that the higher revenue was partially offset by higher product costs in tandem with higher prices, coupled with increased […]

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Retail Asia12/11/2018

Moody’s Investors Service has downgraded Petronas LNG Ltd’s (PLL) ratings outlook to “negative” from “stable”, following the same outlook revision for its parent company Petroliam Nasional Bhd’s (Petronas) yesterday. At the same time, the rating agency has affirmed PLL’s A3 foreign and local currency issuer ratings. Moody’s said the changes reflects its negative outlook on […]

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Retail Asia06/11/2018

Petroliam Nasional Bhd’s (Petronas) solid balance sheet, sizeable net cash position and ample liquidity provide ample buffer against the payment of one-off dividend to the government that could reach RM30 billion. According to S&P Global Ratings, the financial impact of a one-off dividend of this size is moderate considering Petronas’ cash position and balance sheet […]

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Retail Asia17/08/2018

Petronas Gas Bhd’s share price continued to fall by 14 sen or 0.75% this morning despite reporting a 19.7% jump in its net profit to RM509.3 million in the second quarter (Q2) ended June 30 from RM425.3 million previously. At 11.08 am, the stock stood at RM18.52 with 62,900 shares changing hands. The group told […]

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Retail Asia25/06/2018

Petroliam Nasional Bhd (Petronas) is committed to supporting Sarawak’s aspiration to become a major player in the petroleum industry and has so far invested RM183 billion in the upstream sector in the state alone via production sharing contracts (PSCs). According to infographics released to Bernama, the national oil company, since 1976 and up to last […]

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Retail Asia01/06/2018

Petroliam Nasional Bhd (Petronas) is acquiring a 25% stake in a liquefied natural gas (LNG) project in Kitimat, Canada after it scrapped plans for the Pacific NorthWest LNG project in the country last July due to challenging market conditions as a result of prolonged depressed prices. Petronas said in a statement that its wholly owned […]

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Retail Asia18/05/2018

QSR Brands Holdings’ wholly owned subsidiary QSR Stores has signed a memorandum of understanding with Petronas Dagangan to gradually open 50 KFC Drive-Thru outlets at Petronas gas stations within the next three years. QSR Brands MD Mohamed Azahari Mohamed Kamil says the strategic collaboration provides an excellent opportunity for the quick-service restaurant group to expand […]

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Retail Asia06/03/2018

Petronas which saw its net profit soar 91% last year, considers the biggest risk in the horizon to be the improved oil price which looks to already be making oil and gas players abandon hard-won cost efficiencies achieved over the last three years. Although the recovery of global oil prices played a key role in […]

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Retail Asia27/02/2018

Petronas Gas Bhd saw its net profit increase 4.7% to RM486.7 million for the fourth quarter ended December 31, 2017 compared with RM465.06 million in the same quarter a year ago, thanks to new contribution from its liquefied natural gas (LNG) regasification terminal in Pengerang, Johor and higher revenue from the gas processing and utilities […]

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Retail Asia10/01/2017

Pizza_Hut_-_Triple_Treat_Box_-_Image_-_2015.11.6.0.0-1024x576.jpg

QSR Brands, one of the largest quick service restaurants operator in Malaysia as well as a leading brand in the Southeast Asia region, is promoting Merrill Pereyra to chief executive officer. Along with Pereyra’s promotion, it is also appointing Jean Ler as chief marketing officer for Pizza Hut Malaysia. Ler will head up marketing, including […]

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Retail Asia29/03/2016

Following the sale of its shares in Shell Refining Company (federation of Malaya) Bhd (SRC) to a Chinese company, Royal Dutch Shell plc is seeking new opportunities for further growth in its upstream portfolio in Malaysia and to reinforce its joint ventures here with Petroliam Nasional Bhd (Petronas), besides strengthening its position in the retail […]

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