Petronas Gas Shares Climb 2.5% on Stable Utility Demand Outlook

Petronas Gas Berhad (PetGas, 6033) was in the spotlight today, with its share price surging 2.5% to close at RM18.50. Investors expressed confidence in the company's sustained utility revenue stream, which primarily derives from gas processing and transmission services under long-term contracts. Unlike upstream energy players, PetGas's revenue structure is relatively stable as it relies on capacity booking fees rather than commodity prices. Analysts anticipate that the demand for reliable energy infrastructure, coupled with continued industrial activity recovery, will further underpin its profitability. RHB Investment Bank maintained its 'Buy' rating on PetGas, citing its defensive nature and expected steady dividend payout ratio exceeding 70% for the financial year 2026.