Petronas Gas Profit Up 8% in 2019

Petronas Gas, the gas processing and transportation arm of Malaysia's Petronas, reported on February 18 a 7.9% yr/yr growth in net profit for 2019, thanks to a higher share of profit from joint ventures, unrealised foreign exchange gains and higher interest income from fund investments.

Net income for the year was ringgit 1.98bn ($480mn) versus ringgit 1.89bn in the previous year. Revenue declined 0.7% yr/yr to ringgit 5.46bn, the company said.

Petronas Gas said Q4 net profit came to ringgit 485.3mn, up 61% yr/yr, while revenue dropped 1.1% yr/yr to ringgit 1.37bn.