Petronas Dagangan to branch out offerings, explore low-carbon solutions
KUALA LUMPUR: Petronas Dagangan Bhd (PetDagang) plans to diversify its offerings and explore low-carbon solutions, aligning with the broader goals of the National Energy Transition Roadmap (NETR).
The company will also sharpen its focus on long-term shifts in consumer behaviour, including increased mobility, evolving and more transient commuter patterns, as well as the growing demand for convenient lifestyle.
For the financial year ended Dec 31, 2024, PetDagang reached its highest-ever sales volume of 16.8 billion litres, reinforcing its market leadership in both retail and commercial segments.
Revenue for the year totalled RM37.95 billion, driven by higher sales volumes, particularly from Mogas and Jet A-1, despite a lower average selling price.
Operating profit increased by 15 per cent to RM1.55 billion, supported by higher gross profit across all segments. This was partly offset by increased expenditure linked to business growth.
Its pre-tax profit improved 15 per cent to RM1.53 billion, while net profit rose to a post-pandemic record of RM1.12 billion, marking the first time the company surpassed the RM1 billion mark since the pandemic.
PetDagang managing director and chief executive officer Azrul Osman Rani said the past year served as a reminder that staying grounded in its purpose, customers and execution is what drives the company forward.
"As needs evolve and the landscape shifts,
we are moving with focus and intent, while staying true to what makes us different - the ability to create simpler, better experiences in everyday life," he said in a statement in conjunction with the company's 43rd annual general meeting (AGM) here today.
PetDagang delivered a solid performance across its business segments, achieving key milestones in both financial and operational outcomes.
In its retail business, the company achieved its highest-ever sales volume while continuing to enhance customer experience and safety across the network.
The commercial business recorded strong growth by maximising returns from high-value segments, with volume increasing by nine percent in aviation and 19 percent in diesel.
The LPG business reaffirmed its position as Malaysia's leading LPG retailer, achieving its highest volume since 2016 and securing over 50 new commercial customers during the year.
In the lubricants business, PetDagang reinforced its market leadership through strong partnerships and posted a nine per cent volume growth, surpassing industry benchmarks.
Mesra Retail and Café Sdn Bhd (Mesra) maintained its momentum as a retail and lifestyle hub, with chargeable sales reaching a record high for the third consecutive year.
Setel achieved an all-time high in gross merchandise value, continuing to deliver a seamless and rewarding customer experience.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
a day ago
- The Star
About 70 tonnes recyclables collected in trash-to-cash programme
ALMOST 70 tonnes of recyclable waste have been collected by Ampang Jaya Municipal Council (MPAJ) in a trash-to-cash programme. MPAJ, in a media statement, said the total included 1,164.15kg of used cooking oil, 2,405.08kg of electronic waste and 66,424.19kg of recyclable items such as plastic, paper and aluminium. Carried out throughout May, the programme was to encourage the local community to continue preserving the environment through recycling initiatives. Residents earned RM2 for every kilogramme of used cooking oil, RM1 for aluminium, 20sen for electrical and electronic waste or recyclable items such as paper, boxes and plastic. Glass, fabric, batteries and light bulbs are accepted without additional incentives. Running almost weekly, the programme rotated between different zones under MPAJ's administration, working closely with all 24 local councillors to bring the service directly into neighbourhoods. Community centres, housing areas, mosques and schools are among the spots for residents to drop off the recyclables. The spots included Bukit Indah Mosque parking area, Pangsapuri Rasmi (Taman Rasmi Jaya), Jalan Jujur 1/8 (Taman Bakti Ampang), Padang Perbandaran MPAJ Pandan Indah, SJK (C) Choon Hwa Lembah Maju and community halls of Angsana Hilir and Jalan Hilir 7 in Ampang. 'We partnered with licensed companies – TTD Metal for recyclables, Electronic Recycling Through Heroes (ERTH) for e-waste, and Weimar Sdn Bhd, Waumas and Seri Gunung for used cooking oil to manage waste responsibly. 'We plan to broaden our initiative further by exploring a plastic-to-diesel conversion project, reinforcing the vision for a circular economy. 'In the long term, the trash-to-cash programme aims to significantly reduce landfill waste and raise the recycling rate to 15%, in line with Selangor government's First Selangor Plan (RS-1),' MPAJ added. The municipal council also stated that it was in the midst of developing a recycling site in Dewan Kampung Perwira Jaya. 'This 3.011m site can accommodate waste collected in MPAJ's administrative area. 'MPAJ is also collaborating with KDEB Waste Management and waste collecting companies registered with MPAJ,' said MPAJ, adding that proceeds from the sale of the wastes would be added to the local council's coffers.
New Straits Times
a day ago
- New Straits Times
Tenaganita commends RM1.55 million payout order to Bangladeshi workers
KUALA LUMPUR: Human rights organisation Tenaganita has commended a recent decision by the Kuala Lumpur Labour Department, which ordered Meranti Binamas Sdn Bhd to pay nearly RM1.55 million in unpaid wages and related violations to 74 Bangladeshi migrant workers. The payment, totaling RM1,548,000, follows claims filed by the workers through Tenaganita for unpaid wages and related labour violations. Tenaganita executive director Glorene A Das said the latest development represents a significant step forward in the fight for justice and dignity for migrant workers in Malaysia. "The decision affirms that employers must be held accountable for their obligations and that the rights of workers, particularly migrant workers who are often silenced and made invisibilise, must be asserted without compromise," she said in a statement. The case saw the workers, including lead claimant Md Kabir Hossain, pay exorbitant recruitment fees of up to RM25,000 to secure jobs promised under official permits. However, upon arrival in Malaysia, they were left without employment, wages, or adequate living conditions, exposed to legal risks and mental distress. The workers lived for months in overcrowded and unsanitary hostels in Pudu, without income or support, some even contemplating suicide due to the desperation they endured. The case was led by Tenaganita's consultant and lead case officer Abdul Aziz bin Ismail. Aziz, in response to the decision said; "It has been a long and winding road, but we finally have a decision and an order from the Labour Department. This is a significant achievement for the workers and for Tenaganita. It sets yet another precedent that even large, seemingly untouchable companies can be held accountable when workers stand united and demand justice." By ordering Meranti Binamas Sdn Bhd to pay the amounts due, the department has sent a clear message that employers cannot exploit workers with impunity." Such a case was not isolated. "Tenaganita has documented hundreds of similar cases involving fraud, deception, and labour rights violations under the pretense of legal recruitment. We raised these issues in our International Migrants Day 2024 statement, highlighting the systemic failures that have plagued Malaysia's labour migration governance. "Tenaganita continues to urge the government to ensure that the payment is made promptly and in full, and that systemic reform is undertaken to prevent similar abuses in the future. We also call on the authorities to take proactive steps to identify other affected workers and ensure they too have access to redress.
Focus Malaysia
3 days ago
- Focus Malaysia
OGSE sector remains crucial in Malaysia's decarbonisation despite green shift
ENERGY Asia is an annual event that brings together global leaders, policymakers and industry players to discuss challenges and seek opportunities in the energy sector. While the focus of the conference is on energy transition and green energy, it was also emphasised that immediately abandoning fossil fuels, which still makes up of 80% of global energy, is unrealistic amid growing energy demand. Instead, efficiency and emissions reduction in existing energy systems were highlighted, in addition to a clear and coherent financial framework to support Asia's clean energy shift. To note, SE Asia only received 2% of global clean energy investments, based on 2023 data, despite its significant renewable potential. Malaysia targets increasing the share of renewables in its energy mix to 70% by 2050. The energy sector had faced a multi-faceted challenges that hampered the adaptation of energy transition, including: (i) complex and costly reserves. (ii) supply chain vulnerabilities. (iii) geopolitical tensions. (iv) economic volatility. (v) technological disruptions. A purely idealistic or rapid transition without considering these interconnected risks is unrealistic and could destabilise economies. Therefore, a pragmatic approach is advocated, which include: (i) diversifying the energy mix between low-emission options alongside emissions-abated petroleum and gas. (ii) equity and inclusivity in decarbonisation efforts. (iii) streamlining transition pathways, resources grants and development priorities. AI is a game-changer with transformative potential, as the technology is often used for optimising energy systems. Companies like Petronas are already implementing 'AI Refinery' projects to optimise refining processes, reduce production costs, and leverage Generative AI for macro-level business operations. This signifies a shift towards digital technologies and AI as core drivers for decarbonization, efficiency, and long-term sustainability within the energy sector. During the conference, it was proposed that Malaysia reassess its entire energy strategy, including the possible adoption of nuclear power, to meet its net-zero carbon emissions target by 2050. The need to balance affordability, sustainability, and energy security, particularly in addressing the nation's baseload power requirements, highlighted this option. While nuclear energy is not classified as a renewable, it remains one of the cleanest sources of energy, which still aligns with the net-zero goal. However, the risks of nuclear may still need to be studied in a bid to improve public acceptance and preparedness for such development. Malaysia's Oil and Gas Services and Equipment (OGSE) sector is poised for continued growth as the country accelerates its energy transition under NETR. OGSE services remain essential, particularly in supporting carbon capture and storage (CCS) initiatives, even as the focus shifts toward cleaner energy sources. CCS and other transition-related projects still depend on Malaysia's existing oil and gas ecosystem. Nonetheless, the challenges remain on the adaptation of energy transition via ESG, by small and medium enterprises (SMEs). SMEs account for approximately 80% of the OGSE ecosystem, with many at different stages of ESG awareness and readiness. To bridge this gap, MOGSC will be working closely with Petronas to roll out targeted support programmes, helping SMEs align with sustainability goals. Petronas has confirmed ongoing efforts to develop Malaysia's 3rd liquefied natural gas (LNG) regasification terminal, in response to surging electricity demand, driven notably by the rapid expansion of energy-intensive data centres. The group is proactively preparing for future LNG import needs as Peninsular Malaysia's energy demand is poised to outpace domestic gas production. This aligns with government plans to secure long-term energy supply for Peninsular Malaysia. This development complements the government's broader gas market reform initiatives aimed at liberalising and strengthening energy security. Regasification terminals play a critical role in converting imported LNG, shipped in liquid form for efficiency, back into gaseous form for domestic distribution via pipeline networks. This new regasification terminal is expected to fill in a potential shortage in LNG in the Peninsular region. While East Malaysia continues to export LNG to international partners, the Peninsular will soon require increasing LNG imports, anticipating a shift within the next 4-5 years. To note, Malaysia currently operates two regasification terminals – Sungai Udang, Melaka, and Pengerang, Johor. Petronas Gas is expected to be the main beneficiary of this project. —June 18, 2025 Main image: Green Kinematics
