Gas Malaysia's 4Q Profit Down

Malaysian gas retailer Gas Malaysia’s net profit for the three months to December 31 (4Q2018)  was ringgit 51.08mn ($12.52mn), down 16.7% year-on-year owning to lower gas contribution margin, it said February 14.

For the full year 2018, company’s net profit was up 11.9% year-on-year to ringgit 180.39mn, mainly due to higher natural gas tariff and higher volume of natural gas sold.

Gas Malaysia said it anticipates that the yearly increase in natural gas sale volume and number of customers will sustain for the year 2019.

The company supplies natural gas and LPG to homes, commercial businesses and industries in Malaysia. Apart from the general public, its shareholders include MMC Corporation, Tokyo Gas, and Petronas Gas.