PETRONAS Gas Bhd (PetGas) said the gas pipeline fire that occurred on April 1 is expected to result in a total financial impact of RM170 million, with RM60 million expected to hit the group’s earnings in its financial year ending Dec 31, 2025 (FY25).

In a filing with Bursa Malaysia today, the group said the bulk of the costs will be recognised as capital expenditure, while a portion is expected to be recovered through insurance claims.

“The RM60 million impact to profit comprises both the cost of repairs and the loss of revenue,” the group stated.

The estimates are based on the current site condition and extent of damage, but PetGas cautioned that they may be revised following the outcome of an official investigation.

“In light of the recent incident, the group is further strengthening its risk management and mitigation frameworks to ensure continuity, resilience and sustainability across its operations,” it said.

In a separate announcement, PetGas said it posted a net profit of RM468.8 million for the first quarter ended March 31, 2025 (1Q25), up 2.6% from a year earlier, mainly due to higher contributions from joint ventures, which benefited from increased repair and maintenance activities.

Quarterly revenue, however, slipped 1.5% to RM1.6 billion, primarily due to lower tariffs charged under the incentive-based regulation (IBR) framework.

Under this regime, energy companies are required to pass on cost savings — such as reduced gas consumption — to customers in the form of lower tariffs.

The company noted that its pipeline network remained “almost 100% reliable” during the quarter, underscoring the resilience of its core infrastructure.

Looking ahead, PetGas expects a stable operational and financial performance for FY2025, despite the April pipeline incident.

“All main business segments are expected to remain robust and continue contributing to the group’s earnings,” it said.

The group declared a first interim dividend of 16 sen per share for the quarter. — TMR

BANGKOK –Thailand merekodkan 53,563 kes Covid-19 minggu lepas dengan lima kematian.

Menurut Jabatan Kawalan Penyakit, daripada jumlah itu, Bangkok mencatatkan kes jangkitan tertinggi.

Katanya, keseluruhan 53,563 kes berkenaan direkodkan dari 18 Mei hingga 24 Mei yang mana melibatkan 2,827 pesakit dimasukkan ke hospital manakala 50,736 lagi menerima rawatan sebagai pesakit luar.

Tambahnya, pesakit berusia 30-39 merupakan kumpulan teramai dengan 10,740 orang telah dijangkiti virus berkenaan.

Katanya, sebanyak 9,539 kes dilaporkan di Bangkok, diikuti Chon Buri (3,379), Samut Prakan (2,491). Nonthaburi (2,278) dan Rayong (2,210).

Di Samut, peningkatan kes Covid-19 menyebabkan Sekolah Ratwinit Bangkaeo di daerah Bang Phli terpaksa mengadakan pembelajaran atas talian dari Isnin hingga Rabu.

Langkah itu diumumkan pihak pengurusan sekolah dengan mengatakan ia bagi memastikan keselamatan pelajar. -AGENSI

KUALA LUMPUR: Petronas Gas Bhd (PGB) pada masa ini dianggarkan mengalami jumlah impak keuntungan sebanyak RM60 juta bagi tahun kewangan 2025.

Syarikat penghantaran gas asli itu dalam makluman kepada Bursa Malaysia hari ini berkata jumlah berkenaan merangkumi kos pembaikan dan kehilangan perolehan yang berpunca daripada insiden kebakaran saluran paip utama PGB berhampiran Putra Heights di Puchong, Selangor pada 1 April 2025.

MUMBAI, May 26 — Monsoon rains hit the coast of India’s southernmost state of Kerala yesterday, eight days earlier than usual, marking the earliest arrival in 16 years and providing the promise of a bumper harvest and relief from a gruelling heatwave.

The monsoon — the lifeblood of the country’s US$4 trillion (RM16.83 trillion) economy — delivers nearly 70 per cent of the rain that India needs to water farms and replenish aquifers and reservoirs.

Nearly half of India’s farmland, without any irrigation cover, depends on the annual June–September rains to grow a number of crops.

Summer rains usually begin to lash Kerala around June 1 before spreading nationwide by mid-July, allowing farmers to plant crops such as rice, corn, cotton, soybeans and sugarcane.

The onset of the southwest monsoon over Kerala on May 24 is its earliest onset since May 23, 2009, the India Meteorological Department (IMD) said yesterday.

The monsoon has covered Kerala and parts of neighbouring Tamil Nadu and Karnataka, as well as parts of the northeastern state of Mizoram, the IMD said.

Conditions are favourable for the monsoon’s further spread into Goa, parts of Maharashtra, Andhra Pradesh, the northeastern states, West Bengal, and the remaining parts of Karnataka and Tamil Nadu over the next 2 to 3 days.

Surplus pre-monsoon rainfall and an early monsoon onset will help farmers, especially in the southern and central states, to sow summer crops earlier than usual, said Ashwini Bansod, vice president for commodities research at Phillip Capital India, a Mumbai-based brokerage.

“Abundant soil moisture and early sowing could potentially boost crop yields,” Bansod said.

Last year, the monsoon reached the coast of Kerala on May 30, and overall summer rains were the highest since 2020, supporting recovery from a drought in 2023.

The IMD last month forecast above-average monsoon rains for the second straight year in 2025.

The department defines average or normal rainfall as ranging between 96 per cent and 104 per cent of a 50-year average of 87 centimetres for the four-month season. — Reuters