<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Gas Malaysia Bhd saw a 31.5% drop in its first-quarter net profit, mainly due to a tariff revision resulting in lower gross profit.</p></div>

<div class=newsTextDataWrapInner><p>For the first quarter of financial year 2015 ended March (1QFY15), the group posted a net profit of RM28.49 million or 2.22 sen a share compared with RM41.61 million or 3.24 sen a share in 1QFY14. Revenue, however, rose 31.2% to RM761.58 million from RM580.57 million in 1QFY14.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia yesterday, Gas Malaysia (fundamental: 2.1; valuation: 1.1) attributed the improved revenue to a higher volume of gas sold and the upward revision of the natural gas tariff in November last year.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The growth in revenue for 1QFY15 was primarily driven by the increase in volume of gas sold and number of customers,” said Gas Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>“The board anticipates the increase in gas volume and number of customers to sustain in financial year 2015 ending Dec 31. The profitability of the group for FY15 is expected to be in tandem with the level reflecting the current tariff setting mechanism framework,” it said.</p></div>

<div class=newsTextDataWrapInner><p>Gas Malaysia shares closed down 2.6% at RM2.62 yesterday, bringing a market capitalisation of RM3.36 billion.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily</em>, on May 8, 2015.</p></div>


KUALA LUMPUR: Gas Malaysia Bhd saw a 31.5% drop in its first-quarter net profit, mainly due to a tariff revision resulting in lower gross profit.

For the first quarter of financial year 2015 ended March (1QFY15), the group posted a net profit of RM28.49 million or 2.22 sen a share compa...

Gas Malaysia 1Q net profit drops 31.5%

The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.

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Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.

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Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.

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Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

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Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.

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PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.

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A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.

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<p>Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.</p>


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<p>The long-awaited Energy Exchange Malaysia (Enegem) has finally been introduced, along with guidelines on cross-border electricity sales announced by the Ministry of Energy Transition and Water Transformation (Petra) last Monday for exports of green electricity from Malaysia to Singapore and Thailand.</p>


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<p>Attention this week will be on the March inflation rate, with the <strong>Department of Statistics Malaysia</strong> (DOSM) slated to put out <strong>Consumer Price Index</strong> (CPI) — the key gauge for inflation — data on Thursday.</p>

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<p>Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.</p>


<p>A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.</p>


<p>Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.</p>


<p>The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.</p>


Ringgit likely to trade around 4.78 versus greenback next week

<p>Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally, which has flagged as expectations for interest cuts fade.</p>


<p>Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.</p>


IMF concerned about debt, fiscal challenges facing low-income countries

<p>The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.</p>


<p>Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".</p>


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<p>The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.</p>


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<p>Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.</p>


<p>PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.</p>


<p>Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.</p>


<p>Efforts to reform the Bretton Woods institutions – the International Monetary Fund and the World Bank – are progressing, albeit slowly. In December, the IMF Board of Governors approved a 50% increase in member quotas, which will reduce its reliance on borrowed resources, and the World Bank has re...