【GASMSIA 5209 交流专区】大马天然气

pts2222

大马气体子公司‧启动虚拟输送管道业务
http://www.sinchew.com.my/node/1636294/

（吉隆坡21日讯）随着彭亨格宾的压缩天然气总站正式开幕，大马气体（GASMSIA,5209,主板贸服组）旗下子公司——大马气体IEV有限公司正式开始启动其虚拟输送管道业务。

大马气体IEV有限公司为大马气体与IEV能源有限公司的联营公司，于2014年10月21日成立，主要供应压缩天然气给该公司现有天然气分销系统网络以外的客户。

文告指出，大马气体IEV有限公司的业务模式，将解决流动气体方案的完整价值链问题，即从总站的压缩天然气，以重型拖车运送至离总站200公里半径内的客户地点。

文告指出，大马气体IEV有限公司将向大马气体购买天然气，接着负责保持及营运压缩、运输及压力管控等单位，它们是虚拟输送管道的3大主要部份。

大马气体主席拿督哈斯尼哈伦在文告指出，这是项重要发展，特别是逐渐营造天然气的新需求，开启新的商机地区。同时它也通过更可行、平等及可持续情况下，有助加速东海岸经济特区的成长，包括吉兰丹卓峇里工业园、马中关丹工业园、关丹综合工业园及格底的生物聚合体工业园。

文章来源：
星洲日报／财经‧2017.04.22

icy97

大马天然气O’rec
签10年买卖协议

2017年5月6日
（吉隆坡5日讯）大马天然气（GASMSIA，5209，主板贸服股）宣布与O’rec Ind 私人有限公司签署为期10年的天然气买卖协议。

大马天然气今日向交易所报备，独资子公司Gas Malaysia Venture 2 私人有限公司与O’rec Ind 签署天然气购买协议，“全包”（off-take）及购买从垃圾土埋场沼气（Landfill Gas） 提取的生物压缩天然气（Bio Compressed Natural Gas）。

成立于2008年10月16日，O’rec Ind 主要业务是回收从棕油榨油厂排出的油渣，并提供生物沼气（Biogas）解决方案、污水处理系统，及排废气控制系统服务。【e南洋】

Type	Announcement
Subject	OTHERS
Description	Gas Purchase Agreement Between Gas Malaysia Venture 2 Sdn Bhd and O'rec Ind Sdn Bhd
The Board of Directors of Gas Malaysia Berhad wishes to announce that Gas Malaysia Venture 2 Sdn Bhd, a wholly-owned subsidiary of the Company has today, 5 May 2017 signed a Gas Purchase Agreement with O’rec Ind Sdn Bhd to off take and purchase Bio Compressed Natural Gas extracted from Landfill Gas for a contract period of 10 years. Please refer to the attachment for the details of the announcement. This announcement is dated 5 May 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5419909

Attachments Announcement by GMB on GPA with Orec Ind Sdn Bhd.docx

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大马天然气首季赚3374万

2017年5月10日
（吉隆坡9日讯）因天然气销售量走高，大马天然气（GASMSIA，5209，主板贸服股）截至3月杪首季，净利按年扬7.5%，报3374万1000令吉，或每股2.63仙。

该公司今日向交易所报备，同期营业额按年攀升23.5%，报11亿8702万4000令吉，得益于天然气销售佳和售价上调。

该公司指出，若与上季度相比，回教法定税金（Zakat）与税务前盈利其实是按季跌33%，从上财年末季的6780万令吉滑，至4520万令吉，归咎于客户收费和资产贡献减少。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2017	31 Mar 2016	31 Mar 2017	31 Mar 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	1,187,024	961,260	1,187,024	961,260
2	Profit/(loss) before tax	45,169	39,673	45,169	39,673
3	Profit/(loss) for the period	33,644	31,331	33,644	31,331
4	Profit/(loss) attributable to ordinary equity holders of the parent	33,741	31,379	33,741	31,379
5	Basic earnings/(loss) per share (Subunit)	2.63	2.44	2.63	2.44
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.7810		0.7945

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大马天然气
盈利有上行空间

2017年5月12日

分析：肯纳格投行
目标价：3.18令吉

最新进展

天然气销售量走高，大马天然气（GASMSIA，5209，主板贸服股）截至3月杪首季，净利按年扬7.5%至3374万1000令吉，或每股2.63仙。

同期，营业额按年攀升23.5%，报11亿8702万4000令吉，得益于天然气销售和售价增长。

若与上季相比，回教法定税金（Zakat）与税务前盈利，其实按季跌33%至4520万令吉，归咎于客户收费和资产贡献减少。

行家建议

大马天然气首季核心净利低于预期，占今财年预测19%。不过，表现已属不错，天然气销售量和赚幅价差依然健康。

能源委员会已设定天然气成本转嫁机制（GCPT）今年至后年的基础价格，价差赚幅已锁定，关键在于销售量。

过去数个季度，大马天然气的赚幅价差约每百万热能单位1.80令吉，相信这是新的基础价格，盈利有潜在上行空间。

此外，大马天然气股价从年初至今大涨25.5%，我们因而下调评级至“跟随大市”。不过，上调目标价至3.18令吉。



【e南洋】

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成本转嫁制定赚幅‧大马气体以量取胜

（吉隆坡12日讯）大马气体（GASMSIA,5209,主板贸服组）2017年首季业绩大致符合市场预测，分析员认为，随着实施天然气成本转嫁机制已定下基本收费，该公司赚幅差额更为明确，未来业务表现将以量取胜。

MIDF研究表示，大马气体2017财政年首季净利按年起8.5%至3410万令吉，虽然仅仅占该行全年预测的19%，惟该行还是认为符合预测，因首季为其传统最弱季度，预料未来季度表现更好。

联昌研究指出，大马气体2017财政年首季净利表现符合该行预测，即占全年预测的21%，并预料2017年下半年的气体销售将较为强劲。该行将其2017年至2019年每股盈利预测稍为下调1%至2%。

肯纳格研究表示，大马气体2017年首季核心净利为3260万令吉，占该行及市场全年预测的19%及20%，落后该行较早时预测。随着该公司今年为止的股价已经走高25.5%，使该行略为上调目标价之余，下调其评级。

该行指出，该公司其他非管制业务，包括其虚拟输送管、综合热量及能量（CHP）以及BioGNG等，料于2017年杪推行，惟未来两年的盈利贡献不高，直至2020年时才有望作出25%至30%净利贡献。

联昌研究预料2018年推行第三方使用（TPA）措施后，大马气体的盈利表现将出现变动，即第三方可以使用其气体输送管以分销天然气，使它的分销业务不再受到奖掖基础管制（IBR）的管制。

该行认为，这将使其管制资本下跌，及属于分销业务的营运资本将从输送管资产分开，料将削减其受管制业务的盈利。惟分销业务将成为大马气体的新盈利来源，预料将有助抵消其管制盈利跌幅。

短期内大马气体估值下调风险不高，因它仍是唯一天然气分销商。惟联昌研究指出，一旦更多新竞争对手加入，预料其天然气分销业务将面对竞争，使其估值面对下调窘境。

文章来源：
星洲日报／财经·文:李文龙·2017.05.12

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西馬天然氣平均漲0.57% 住宅居民便宜22仙

2017年7月14日
（吉隆坡14日訊）大馬天然氣（GASMSIA，5209，主要板貿服）宣佈獲政府批准，西馬下半年（7月1日至12月31日）非能源領域的天然氣價格平均漲0.57%。

不過，使用天然氣的住宅居民，在獲得1.59令吉回扣后，每百萬熱能單位（MMBtu）價格不起反跌，反而比上半年便宜22仙。

大馬天然氣向馬證交所報備，政府已批准自今年7月1日至12月31日，調整非能源領域的天然氣價格。下半年的天然氣基礎價格，平均漲5%至每百萬熱能單位28.05令吉。

政府是在獎掖式管理（IBR）框架下，允許大馬天然氣每半年調整一次天然氣價格，並採用天然氣成本轉嫁制度（GCPT）。

在天然氣成本轉嫁制度下，此次每百萬熱能單位將獲得1.59令吉的回扣，因此平均的有效價格應為每百萬熱能單位26.46令吉，較之前的26.31令吉，上漲0.57%。

比較今年上半年，天然氣價格的回扣只有40仙。

對住宅居民來說，此次漲價代表著基礎價格從每百萬熱能單位19.26令吉，增至20.23令吉，漲幅5%，但在獲得1.59令吉回扣后，實際有效價格為18.64令吉，較上半年18.86令吉便宜了22仙，跌1.77%。【中国报财经】

Type	Announcement
Subject	OTHERS
Description	NATURAL GAS TARIFF REVISION FOR NON-POWER SECTOR IN PENINSULAR MALAYSIA
Gas Malaysia Berhad (“Gas Malaysia” or “the Company”) wishes to inform that the Government has approved, via a letter from Suruhanjaya Tenaga dated 14 July 2017, for Gas Malaysia to effect the revision of the natural gas tariff for the non-power sector in Peninsular Malaysia from 1 July 2017 to 31 December 2017. The Government has prescribed the Incentive Based Regulation (“IBR”) framework which sets the Base Tariffs for a Regulatory Period of three years from January 2017 and allows changes in the gas costs to be passed through via the Gas Cost Pass Through (“GCPT”) mechanism every six months. The average gas base tariff will be adjusted to RM28.05/MMBtu.  In addition, under the GCPT mechanism, a rebate of RM1.59/MMBtu will apply to all tariff categories for the period beginning July to December 2017. This translates to an average effective tariff of RM26.46/MMBtu, which is an increase of 0.57% from the previous average effective tariff of RM26.31/MMBtu. The revised base tariff and effective tariff schedules for the period commencing from 1 July 2017 to 31 December 2017 is as follows: Tariff Category Annual Gas Consumption (MMBtu) Existing Base Tariff (RM/MMBtu) Revised Base Tariff Effective 1 July 2017 (RM/MMBtu) Revised Effective Tariff after GCPT (RM/MMBtu) A Residential 19.26 20.23 18.64 B 0-600 24.86 26.11 24.52 C 601 – 5,000 24.99 26.25 24.66 D 5,001 – 50,000 25.24 26.51 24.92 E 50,001 – 200,000 26.33 27.66 26.07 F 200,001 – 750,000 26.33 27.66 26.07 L Above 750,000 27.21 28.58 26.99 Average 26.71 28.05 26.46 While the tariff revision has no material impact on Gas Malaysia’s business operations, it is expected to contribute positively towards the financial position of the Company for the financial year ending 31 December 2017. This announcement is dated 14 July 2017.

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成本转嫁属于正常调整
大马气体维持“持有”

今年下半年每MMBTU高达1令吉50仙的回馈奖掖，显示大马气体上半年成本转嫁可能过高，但这属于正常调整，气体销售量会是左右盈利的关键，且在没有太多利好因素带动下，分析员大多对该公司维持“持有”看法。

尽管大马气体获批准涨价，公司股价并没有走高，全天下挫8仙至2令吉91仙，收在全天最低，成交量也仅仅为52万2000股。

马银行研究表示，截至2016年12月底为止，该公司已经累计了近9800万令吉缓冲资金，在2017年上半年，随着该公司提供每MMBTU40仙的回馈，缓冲资金也逐渐减少。

但下半年该公司给予更高的回扣，显示该公司在下半年第二季度天然气回收的成本成本更高，或者是这是一次性成本转嫁机制追溯举动。

政府展现合理化津贴决心

安联星展则认为，天然气成本转嫁显示了政府继续合理化津贴的决心，市场对受监管管道气体价格合理化，也不会再有任何疑虑。

大马气体采购价格自2015年5月已经成长15令吉55仙至2017年7月25令吉55仙，在3年内成长了58%之多。



文章来源：
星洲日报‧财经‧报道：傅文耀‧2017.07.17

icy97

大马天然气次季赚3946万

2017年8月11日
（吉隆坡10日讯）大马天然气（GASMSIA，5209，主板贸服股）截至6月底次季，净利微扬1.25%，报3946万令吉或每股3.07仙；并宣布派息4仙。

大马天然气今日向交易所报备，次季回教法定税金与税务前盈利年增3%，从上财年同季的4977万4000令吉，增至5125万1000令吉，主要是因为总盈利走高，也与天然气销量增加一致。

天然气销量走高及天然气收费上涨，激励该公司次季，营业额大涨32.2%，从上财年同季9亿7378万8000令吉，增加至12亿8733万3000令吉。

派息4仙

累计首半年，净利按年微增4.05%，报7320万1000令吉；营业额则增加27.87%，录得24亿7435万7000令吉。

大马天然气董事部预计，该公司将能维持2017财年的天然气销量及客户数量的增长率。

预计公司现财年的盈利将与现有的定价机制框架水平一致。

另外，该公司每股4仙的股息，除权日及享有权益日分别落在下个月14日及18日。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2017	30 Jun 2016	30 Jun 2017	30 Jun 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	1,287,333	973,788	2,474,357	1,935,048
2	Profit/(loss) before tax	51,251	49,774	96,420	89,447
3	Profit/(loss) for the period	39,281	38,833	72,925	70,164
4	Profit/(loss) attributable to ordinary equity holders of the parent	39,460	38,974	73,201	70,353
5	Basic earnings/(loss) per share (Subunit)	3.07	3.04	5.70	5.48
6	Proposed/Declared dividend per share (Subunit)	4.00	4.00	4.00	4.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.7627		0.7945

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EX-date	14 Sep 2017
Entitlement date	18 Sep 2017
Entitlement time	04:00 PM
Entitlement subject	Interim Dividend
Entitlement description	Single-tier interim dividend of 4.00 sen per share on the 1,284,000,000 ordinary shares, amounting to RM51,360,000 in respect of the financial year ending 31 December 2017.
Period of interest payment	to
Financial Year End	31 Dec 2017
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	SYMPHONY SHARE REGISTRARS SDN BHDLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301Petaling JayaTel:0378490777Fax:0378418151
Payment date	06 Oct 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	18 Sep 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.04

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大马气体业绩无惊喜‧股价已反映

（吉隆坡11日讯）大马气体（GASMSIA,5209,主板贸服组）最新业绩无惊喜，分析员预期在气体成本转嫁机制下，该公司营运可稳定成长，但股价已反映其基本面，缺乏催化动力。

营运可稳定成长MIDF研究表示，大马气体上半年盈利7290万令吉，相等于该行和市场平均全年财测的41%和44%，预期接下来表现会更佳，因下半年是传统较强劲的时期。

该行指出，政府推行的奖掖基础管制条例架构明显对该集团营收和盈利带来正面影响，因其受管制资产继续增加，以及该公司将可免受气体成本波动的影响。

管理层也表示，2017年可持续争取到新用户和增加气体销售。

肯纳格研究指出，在气体成本转嫁机制（GCPT）下，该公司赚幅已经固定，气体价格的风险转嫁给用户，因此该公司再度成为以量取胜的业者。至于其它业务如虚拟管线（VP）则只在去年杪才开始，预料接下来两年贡献平平，只在2020年才贡献25至30%税前盈利。

安联星展研究表示，由于工业户的气体消费增长减缓，相信该公司的盈利成长前景平平，缺乏催化动力。

该行表示，政府根据气体津贴合理化计划，从2017年1月至2019年12月每半年提高气体售价，这可能导致气体需求成长更为缓和。

艾芬黄氏研究认为，该公司提供出色的4.3%周息率，但本益比高达23倍，已充份反映周息率和基本面。

文章来源：
星洲日报／财经·文:李勇坚·2017.08.11

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Type	Announcement
Subject	OTHERS
Description	Internal Re-Organisation of Group Structure
Pursuant to Paragraph 9.19(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Gas Malaysia Berhad ("Gas Malaysia" or "the Company") wishes to announce that the Company has on 3 October 2017, disposed of all its shares in Gas Malaysia Venture 1 Sdn Bhd (Company No. 1101620-T) (“GMV1”) and Gas Malaysia Venture 2 Sdn Bhd (Company No. 1101852-V) (“GMV2”), each comprising 2 ordinary shares and representing the entire issued share capital of GMV1 and GMV2, to its wholly owned subsidiary, Gas Malaysia Ventures Sdn Bhd ("GMV") for a total cash consideration of RM2.00 each (“Internal Re-organisation”). The disposal is part of the rationalisation and streamlining exercise of Gas Malaysia Group’s business activities. Following the disposal, GMV1 and GMV2 have become a direct wholly-owned subsidiaries of GMV and an indirect wholly-owned subsidiaries of Gas Malaysia. GMV1 was incorporated in Malaysia on 16 July 2014. As at the date hereof, it has an issued share capital of RM2.00 comprising 2 ordinary shares. Its principal activity is investment holding. GMV2 was incorporated in Malaysia on 17 July 2014. As at the date hereof, it has an issued share capital of RM2.00 comprising 2 ordinary shares. Its principal activity is investment holding. The Internal Re-organisation is not expected to have a material effect on the issued and paid-up capital of the Company or its substantial shareholders’ shareholdings or any material effect on the earnings per share, net assets per share or gearing of Gas Malaysia for the current financial year ending 31 December 2017. The Internal Re-organisation is not subject to the approval of the shareholders of Gas Malaysia and any regulatory authorities. None of the directors or major shareholders of Gas Malaysia or persons connected to them has any interest, whether direct or indirect in the Internal Re-organisation. This announcement is dated 3 October 2017.

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Type	Announcement
Subject	OTHERS
Description	SHARE SALE AGREEMENT BETWEEN GAS MALAYSIA BERHAD AND IEV ENERGY SDN BHD
The Board of Directors of Gas Malaysia wishes to announce that the Company has entered into a Share Sale Agreement with IEV Energy Sdn Bhd ("IEV") on 3 November 2017 for the acquisition of 1,302,310 Ordinary Shares representing 25% equity interest in the issued and paid up capital of Gas Malaysia IEV Sdn Bhd that are currently held by IEV for a cash consideration of RM141,865.50, financed by the Company’s internally generated funds. Please refer to the attachment for the details of the Agreement. This announcement is dated 3 November 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5592617

Attachments Announcement - SSA GMB with IEV.pdf

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携手森那美岸外工程
大马天然气联营能源业

2017年11月8日
（吉隆坡7日讯）大马天然气（GASMSIA，5209，主板贸服股）与森那美岸外工程私人有限公司成立联营公司，将业务从天然气多元化至能源领域。

该公司今天向交易所报备，独资子公司大马天然气创投1私人有限公司，今天与森那美岸外工程私人有限公司达成协议，成立联营公司。

在双方成立的联营公司中，大马天然气创投1公司将持有70%股权，剩余则由森那美岸外工程持有。

根据协议内容，该联营公司将会从事电力、蒸汽、冷冻水、热水、热空气或其他公共设施相关服务。

此外，联营公司也为客户进行热电联产系统的涉及、施工、安装、调试和运行。

这项发展符合大马天然气的整体策略，即在国内成为创新增值能源解决方案的供应商。

此外，联营公司为大马天然气带来多元化业务的机会，从目前的天然气分销，扩大至能源领域。

森那美岸外工程成立于1991年，主要从事系统集成、大型产品营销和服务，包括油气、石油化工、以及沼气领域。【e南洋】

Type	Announcement
Subject	OTHERS
Description	JOINT VENTURE AGREEMENT BETWEEN GAS MALAYSIA VENTURE 1 SDN BHD AND SIME DARBY OFFSHORE ENGINEERING SDN BHD
The Board of Directors of Gas Malaysia Berhad (“the Company”) wishes to announce that Gas Malaysia Venture 1 Sdn Bhd, a wholly-owned subsidiary of Gas Malaysia Ventures Sdn Bhd which in turn is a wholly-owned subsidiary of the Company, had on 7 November 2017 entered into a Joint Venture Agreement ("JVA") with Sime Darby Offshore Engineering Sdn Bhd to undertake the business of provision of electricity, steam, chilled water, hot water, hot air and/or any other utilities to customer through Combined Heat and Power System to industries in Malaysia through the incorporation of a joint venture company. Please refer to the attachment for the details of the JVA. This announcement is dated 7 November 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5595393

Attachments JVA between GMV1 and SDOE.pdf

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Type	Announcement
Subject	OTHERS
Description	ADDITIONAL INFORMATION ON JOINT VENTURE AGREEMENT BETWEEN GAS MALAYSIA VENTURE 1 SDN BHD AND SIME DARBY OFFSHORE ENGINEERING SDN BHD
Further to the Company’s earlier announcement dated 7 November 2017, in relation to the Joint Venture Agreement entered into between Gas Malaysia Venture 1 Sdn Bhd and Sime Darby Offshore Engineering Sdn Bhd. The Company wishes to further announce that the eventual issued share capital of the JV Company may be increased upon such terms and conditions as decided by the board from time to time to meet its required working capital expenditure. Gas Malaysia Venture 1 Sdn Bhd will fund its investment in the JV Company through combination of internally generated funds and borrowings, the proportion is as follows: Internally generated funds : 30% (in accordance to the proportion of each party’s shareholding) Borrowings : 70% This announcement is dated 9 November 2017.

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大马天然气第3季赚4446万

2017年11月10日
（吉隆坡9日讯）大马天然气（GASMSIA，5209，主板贸服股）截至9月30日第三季，净利按年微增2.91%，因税收开销减少。

该公司第三季录得4445万7000令吉净利或每股3.46仙，上财年同季为4319万8000令吉或每股3.36仙。

天然气销量增加及调涨天然气价格，带动当季营业额则从10亿6792万令吉，按年扬升31.41%至14亿338万令吉。

合计首九个月，公司净赚1亿1766万令吉或每股9.16仙，比上财年同期1亿1355万令吉或每股8.84仙，按年增长3.62%；而营业额则升29.13%至38亿7773万令吉。

董事部预计，天然气销量及顾客人数，将在2017财年将继续增加。

同时，预计集团盈利将跟随反映现行价格设定机制框架的水平。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2017	30 Sep 2016	30 Sep 2017	30 Sep 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	1,403,377	1,067,918	3,877,734	3,002,966
2	Profit/(loss) before tax	55,274	55,596	151,694	145,043
3	Profit/(loss) for the period	44,285	43,087	117,210	113,252
4	Profit/(loss) attributable to ordinary equity holders of the parent	44,457	43,198	117,658	113,552
5	Basic earnings/(loss) per share (Subunit)	3.46	3.36	9.16	8.84
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	4.00	4.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.7574		0.7945

icy97

大马天然气末季业绩更出色

2017年11月11日

分析：MIDF研究
目标价：3.50令吉

最新进展：

因税收开销减少，大马天然气（GASMSIA，5209，主板贸服股）截至9月30日第三季，净利按年微增2.91%，录得4445万7000令吉。

天然气销量增加及价格调涨，带动当季营业额从10亿6792万令吉，按年扬升31.41%至14亿338万令吉。

合计首九个月，公司净赚1亿1766万令吉，按年增长3.62%；而营业额则升29.13%至38亿7773万令吉。

行家建议：

在扣除约434万令吉的单次开销后，大马天然气首九个月净利，其实达1亿2200万令吉，表现大致符合预期，分别达到我们和市场全年预测的69.4%和74.2%。

我们预计，末季业绩应会更出色，按照历史来看，公司通常会在下半年表现更佳。

基于本行预测大马GDP全年可达5.1%，我们预计，天然气销售方面全年下来按年会有8.6%的增长。

橡胶、油脂化学、消费者产品和玻璃制造业，将会推动天然气的需求。

现阶段，我们维持对大马天然气的净利预测，并预计大马强劲的经济，将继续支撑公司未来的业绩表现。



【e南洋】



资本开销落实．派息率有望达90%．大马气体可趁低吸纳

（吉隆坡10日讯）大马气体（GASMSIA,5209,主板贸服组）未来资本开销已落实，市场认为该公司未来派息率有望达90%，且下半年股息料比上半年来得更好，分析员认为可趁低吸纳。

艾芬黄氏研究表示，该公司早前已经计划了未来3年的资本开销，共7亿令吉，其中2016财政年年已经使用了1亿3300万令吉，因此预期2017财政年派息率只有65%。

艾芬黄氏早前认为大马气体派息为100%。随着大马气体的资本开销已规划，因此下调派息率预测。不过，该行相信2017至2019财政年，该公司的派息率可能超过90%。

过去3个月股价下滑8%

肯纳格研究补充，大马气体股价过去3个月已经下滑了8%，相信是时候趁低吸纳。

下半年可派更多息

安联星展研究说，该公司资产负债表相当健康，且处于净现金地位，手握2亿2500万令吉，相等于每股18仙，今年上半年派发了4仙股息，预期下半年可派发更多股息。

针对领域展望，肯纳格表示，能源委员会（EC）已经设立了明确的天然气成本转嫁机制（GCPT），赚幅相当明朗化，因此该领域主要以量取胜。

联昌研究表示，第三方使用条款（TPA）将在明年落实，届时规则将有所改变，其他气体业者可使用大马气体导管运输气体，而大马气体原有的奖掖（IBR）则被取消。

联昌说，奖掖虽被取消，但大马气体可从分销业务中，取得盈利，抵消失去的奖掖。

马银行研究说，大马气体并未透露天然气的成本结构，仅表示，当成本扬升就转嫁成本，按1令吉59仙的每百万英国热量单位（MMBtu）计算，该行相信，明年上半年将会征收附加费，并反映在明年下半年的业绩，天然气收费料走高20%。

MIDF研究认为，IBR有利于大马气体营业额与盈利增加，此外，管理层也预期新客户需要更多气体。

安联星展研究表示，该公司首9个月盈利符合预测的69%，预期下半年表现盈利表现可更佳，因传统上下半年是使用天然气的高峰期。

其他业务方面，肯纳格说，大马气体旗下其他非监管业务如虚拟导管（VP）、热能量综合（CHP）及BioGNG业务，在2016年年杪刚营运，预期2020年时，可贡献25%至30%的税后盈利。

文章来源：
星洲日报·财经·报道：谢汪潮·2017.11.10

icy97

Type	Announcement
Subject	OTHERS
Description	INCORPORATION OF SUBSIDIARIES
Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Gas Malaysia Berhad (“Gas Malaysia” or “the Company”) wishes to announce the incorporation of Gas Malaysia Distribution Sdn Bhd (“GMD”) and, Gas Malaysia Energy and Services Sdn Bhd (“GMES”), both are wholly-owned subsidiaries of the Company, on 21 November 2017. The Notice of Registration pursuant to Section 15 of the Companies Act 2016 under the name of GMD and GMES dated 21 November 2017 respectively, issued by the Companies Commission of Malaysia were received by the Company, on even date. GMD (1256744-A) was incorporated as a private company limited by shares in Malaysia under the Companies Act, 2016. The entire issued share capital of GMD of RM2.00 comprising two (2) ordinary shares is held by Gas Malaysia. The principal activities of GMD are to carry out the business of developing, operating and maintaining the distribution pipeline and to deliver gas through the distribution pipeline. GMES (1256748-T) was incorporated as a private company limited by shares in Malaysia under the Companies Act, 2016. The entire issued share capital of GMES of RM2.00 comprising two (2) ordinary shares is held by Gas Malaysia. The principal activities of GMES are to carry out the business of selling, marketing and promotion of natural gas, liquefied petroleum gas and other gaseous fuel and providing related services and energy solution to industrial, commercial and residential sectors. The incorporation of GMD and GMES is not expected to have any material effect on the earnings or net assets of Gas Malaysia Group for the financial year ending 31 December 2017. None of the Directors or substantial shareholders of Gas Malaysia or persons connected with them has any interest, direct or indirect, in the incorporation. This announcement is dated 21 November 2017.

icy97

非发电领域
天然气明年涨16%

2017年11月29日
（吉隆坡29日讯）大马天然气（GASMSIA，5209，主板贸服股）宣布，政府批准调高半岛非发电领域2018上半年天然气价格，从平均每百万热能单位（mmbtu）28.05令吉，调高15.94%至32.52令吉。

明年上半年平均天然气基本售价为30.90令吉，但由于液化天然气价格升高，将根据天然气成本转嫁机制（GCPT），对所有非发电领域征收每百万热能单位1.62令吉附加费。

因此，平均实际天然气价格达32.52令吉。

根据奖掖式管理（简称IBR）框架，天然气成本可以每半年通过GCPT转嫁出去。

●家庭用户天然气售价调高18.24%至23.92令吉

●天然气价格进入上升周期

●手套领域受到最大影响，但可迅速转嫁成本给客户

【e南洋】

icy97

明年1月1日至6月30日．政府批准天然气价格调整

（八打灵再也29日讯）政府批准半岛非发电领域的天然气价格调整，其中住宅区用户（A类别用户）的基础收费率从每单位（MMBtu）20令吉23仙涨至22令吉30仙，从明年1月1日开始至6月30日。

大马气体公司在大马交易所发文告指出，平均天然气基础收费率将调整至每单位（MMBtu）为30令吉90仙。

“在天然气成本转嫁机制下，从明年1月至6月，全部收费类别将获得每单位1令吉62仙回扣。这将使平均有效收费为每单位32令吉52仙。”

至于B类别用户（每年消耗600MMBtu）的基础收费率则从每单位26令吉11仙涨至28令吉78仙。

每年消耗601至5000MMBtu的用户的基础收费率则从每单位26令吉25仙涨至28令吉93仙；5001至5万MMBtu者则从26令吉51仙涨至29令吉22仙。

而消耗5万至20万的用户和，20万零1至75万MMBtu一样都是从27令吉66仙涨至30令吉48仙。

每6个月检讨一次

文告指出，该公司已经获得政府于11月28日通过能源委员会发出的批准函。

“政府已采纳奖掖基础管制架构（IBR），即设定基本收费率的管制期为3年，从2017年1月开始，准许天然气成本变动，通过天然气成本转嫁机制（GCPT）加以转嫁，每6个月检讨一次。”

文告指出，天然气收费调整对公司业务营运没有重大影响，惟预料对公司截至2018年12月31日为止财政年的财务情况作出正面贡献。



文章来源：
星洲日报·2017.11.29

Type	Announcement
Subject	OTHERS
Description	NATURAL GAS TARIFF REVISION FOR NON-POWER SECTOR IN PENINSULAR MALAYSIA
Gas Malaysia Berhad (“Gas Malaysia” or “the Company”) wishes to inform that the Government has approved, via a letter from Suruhanjaya Tenaga dated 28 November 2017, for Gas Malaysia to effect the revision of the natural gas tariff for the non-power sector in Peninsular Malaysia from 1 January 2018 to 30 June 2018. The Government has prescribed the Incentive Based Regulation (“IBR”) framework which sets the Base Tariff for a Regulatory Period of three years from January 2017 and allows changes in the gas costs to be passed through via the Gas Cost Pass Through (“GCPT”) mechanism every six months. The average natural gas Base Tariff is set at RM30.90/MMBtu for the period beginning January to June 2018 in line with Gas Malaysia's announcement on 28 December 2016. In addition, under the GCPT mechanism, a surcharge of RM1.62/MMBtu will apply to all tariff categories due to the increased LNG price against the reference price in the Base Tariff in this period. This translates to an average effective tariff of RM32.52/MMBtu. The Base Tariff and effective tariff schedules for the period commencing from 1 January 2018 to 30 June 2018 are as follows: Tariff Category Annual Gas Consumption (MMBtu) Current Base Tariff (RM/MMBtu) Base Tariff for 1 January - 30 June 2018(RM/MMBtu) Effective Tariff (after GCPT) for 1 January - 30 June 2018(RM/MMBtu) A Residential 20.23 22.30 23.92 B 0-600 26.11 28.78 30.40 C 601 – 5,000 26.25 28.93 30.55 D 5,001 – 50,000 26.51 29.22 30.84 E 50,001 – 200,000 27.66 30.48 32.10 F 200,001 – 750,000 27.66 30.48 32.10 L Above 750,000 28.58 31.50 33.12 Average 28.05 30.90 32.52 While the tariff revision has no material impact on Gas Malaysia’s business operations, it is expected to contribute positively towards the financial position of the Company for the financial year ending 31 December 2018. This announcement is dated 29 November 2017.

icy97

Type	Announcement
Subject	OTHERS
Description	JOINT VENTURE AGREEMENT BETWEEN GAS MALAYSIA BERHAD AND SIME DARBY OFFSHORE ENGINEERING SDN BHD - NOVATION OF THE JOINT VENTURE AGREEMENT TO GAS MALAYSIA VENTURE 2 SDN BHD AND INTERNAL RE-ORGANISATION OF GROUP STRUCTURE
Reference is made to Gas Malaysia Berhad’s (“Gas Malaysia” or “the Company”) previous announcements dated 28 April 2015, 8 January 2016, 16 March 2016 and 19 May 2016 in relation to a Joint Venture Agreement (“JVA”) entered into between Gas Malaysia and Sime Darby Offshore Engineering Sdn Bhd (“SDOE”) to undertake Biogas Compressed Natural Gas distribution business extracted from the palm oil mill effluent. Gas Malaysia wishes to announce that the Company had today, executed a Novation Agreement with its wholly owned subsidiary, Gas Malaysia Venture 2 Sdn Bhd (“GMV2”) and SDOE, for Gas Malaysia to transfer and novate all rights, titles, interest, liabilities, obligations and covenants vested in or imposed upon Gas Malaysia by and/or pursuant to the JVA to GMV2, SDOE is agreeable to the substitution of Gas Malaysia with GMV2 as a party to the JVA, with effect from 18 January 2018, in accordance with the terms and conditions as stipulated in the Novation Agreement. The details of the JVA had been previously announced by the Company on 28 April 2015. Pursuant to Paragraph 9.19(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and in relation to the Novation Agreement, the Company has on even date, disposed all of its shares in Sime Darby Gas Malaysia BioCNG Sdn Bhd (“SDGM”), comprising 490,000 ordinary shares representing 49% of issued share capital of SDGM, to its wholly owned subsidiary, GMV2 for a total cash consideration of RM490,000.00. The Novation Agreement and the disposal of shares are part of the rationalisation and streamlining exercise of Gas Malaysia Group’s business activities. Following the disposal, SDGM becomes an associate company of GMV2. SDGM was incorporated in Malaysia on 3 November 2015. As at the date hereof, it has an issued share capital of RM1,000,000.00 comprising 1,000,000 ordinary shares. Its principal activity consists of sale and supply of bio-compressed natural gas. The Novation Agreement and the disposal of shares are not expected to have a material effect on earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of Gas Malaysia for the financial year ending 31 December 2018. The Novation Agreement and the disposal of shares are not subject to the approval of the shareholders of Gas Malaysia and any regulatory authorities. None of the Directors and/or major shareholders of Gas Malaysia, and/or persons connected with them, has any interest, direct or indirect in the Novation Agreement and the disposal of shares. This announcement is dated 18 January 2018.