KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) will pay RM54 billion in dividend to the government this year, including a special dividend of RM30 billion.
Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said the group, which announced a revenue jump of 12 per cent to RM251.0 billion, had been paying the dividend in tranches since January.
“The group will be paying RM54 billion dividend in total (for 2019) comprising RM30 billion in special dividend and RM24 billion in normal dividend.
“We were confident of delivering this dividend before we declared this number,” he said at a media briefing on Petronas’ 2018 financial results here today.
In November last year, Petronas announced that it would be paying an additional RM30 billion in a special dividend in the 2019 Budget to help the government settle refunds of RM37 billion in goods and services tax and income tax.
Petronas, in a statement, said the special dividend payment would not impede its operations.
Earlier, Finance Minister Lim Guan Eng said the government expected to receive RM261.8 billion in revenue next year, including a one-off special dividend of RM30 billion from Petronas.
The special dividend, he said, would be used towards repaying the GST and income tax refunds of RM37 billion.
Petronas announced a 12 per cent increase in revenue to RM251.0 billion from RM223.6 billion recorded in 2017, driven by higher average realised prices for all key products.
Petronas’ net profit rose 22 per cent to RM55.3 billion from RM45.5 billion in 2017, on the back of higher revenue and supported by net write-back of impairment of assets.
SEE THESE WORDS
(((In November last year, Petronas announced that it would be paying an additional RM30 billion in a special dividend in the 2019 Budget to help the government settle refunds of RM37 billion in goods and services tax and income tax.)))
1) Good News No. 1
PETRONAS HAS INCREASED REVENUE TO HELP MALAYSIAN GOVT
That is why 5 OGSE are selling higher revenue due to increased activity
Both Penergy & Dayang have surging revenue & profits
2) Good News No. 2
With Increased Revenues PH Govt is ready to RESTART ECRL which is very good for T7 Global & Azrb
3) Good news No. 3
(((help the government settle refunds of RM37 billion in goods and services tax and income tax.)))
These will result in Payment to companies which Govt owed goods & services tax refund of Rm37 billions which inject liquidity to companies hard pressed in their cash flow.
Yea! "Last year, the number of rigs in Malaysian waters was about 15. This year it will be in the mid-20s or higher, and that is a good proxy of the work activities that we are planning." "In general, the higher the rig count, the greater volume of oil and gas that will be available for production. This is typically good news as it means more work going around for the service support players."
>>MORE WORK GOING AROUND....FOR THE SERVICE SUPPORT PLAYERS<<
Calvin...is there any real chance that penergy could report higher profits than Dayang? Historical QRs have shown that Dayang's profits were higher than Penergy.'s.
Posted by Depeche > Mar 12, 2019 09:59 AM | Report Abuse
Calvin...is there any real chance that penergy could report higher profits than Dayang? Historical QRs have shown that Dayang's profits were higher than Penergy.'s.
Dayang by virtue of its 4X more PPE will secure more jobs than Penergy
And report better margins
BUT OVERALL 2 THINGS MIGHT HOLD BACK DAYANG
1. DAYANG BORROWINGS MUCH HIGHER THAN PENERGY
2. DAYANG GOT LIABILITY IN PERDANA WHICH IS INSOLVENT
ON SHORT SPURT DAYANG MIGHT RUN AHEAD
BUT ON A LONG DISTANCE MARATHON PENERGY SHOULD PLAY CATCH UP
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Simon73
58 posts
Posted by Simon73 > 2019-03-08 11:25 | Report Abuse
Calvin
T7 ticking up too...as u analysed, CHEERS! to Calvin and everyone in OnG sector.
Have a pleasant and lubricantly weekend!