KUALA LUMPUR (Dec 26): Gas Malaysia Bhd will raise the average natural gas base tariff for the non-power sector in Peninsular Malaysia to RM32.69 per million british thermal units (MMBtu) from Jan 1 to June 30 next year, up from the current RM31.92 per MMBtu.

The revision, along with a 23 sen per MMBtu gas cost pass through surcharge, translates to an average effective tariff of RM32.92 per MMBtu – up 0.7% from the current average tariff after surcharge.

"While the tariff revision has no material impact on Gas Malaysia’s business operations, it is expected to contribute positively towards the group's financial position for the financial year ending Dec 31, 2019," Gas Malaysia said in a filing with Bursa Malaysia today.

In a separate statement, the Malaysian Gas Association (MGA) secretary-general Rosman Hamzah said it supports the government’s long-term vision to create a level playing field, increase participation and pave the way for stronger socio-economic progress in the country.

"MGA is committed to work together with policy makers and industry players to further develop a vibrant gas market. Natural gas offers integrated innovative gas solutions for the country’s long-term energy mix at significantly lower economic and environmental cost.

"As such, MGA firmly advocates expanding the use of natural gas for fueling a sustainable future,” he added.

Gas Malaysia’s share price closed down two sen or 0.74% at RM2.69 today, giving it a market capitalisation of RM3.45 billion.