KUALA LUMPUR – Petronas Gas Bhd (PGB) is allocating a capital expenditure (capex) of between RM1.2 billion and RM1.3 billion for the financial year ending December 31, 2021 (FY21) from RM1.1 billion spent in the previous financial year.
Chief financial officer Shariza Sharis Mohd Yusof said the higher level of capex in FY21 is in line with all the planned activities in the current year that include a 42km lateral gas pipeline in Pulau Indah, Selangor.
“Last year, some activities were affected slightly due to the movement restriction following the Covid-19 pandemic. This year, we do anticipate there will be a slight pick-up (in capex), as we have new growth projects including the 42km lateral gas pipeline,” she told a virtual media conference after PGB’s annual general meeting today. – Bernama, April 20, 2021
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