Petronas Gas says 2Q net profit down on higher tax expense

Petronas Gas says 2Q net profit down on higher tax expense

The Edge Markets - Malaysia·2019-08-27 14:33

KUALA LUMPUR (Aug 27): Petronas Gas Bhd said today second quarter net profit fell 1.26% to RM502.9 million from RM509.33 million a year earlier as a result of higher tax expense. Quarterly revenue, however, rose.

In a statement to Bursa Malaysia today, Petronas Gas said a deferred tax revision to reflect the tax incentive granted for the group's liquefied natural gas (LNG) regasification terminal in Pengerang, Johor resulted in lower tax expense in the corresponding quarter.

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