KUALA LUMPUR (April 2): Petronas Gas Bhd (KL:PETGAS) and Gas Malaysia Bhd (KL:GASMSIA) opened marginally lower after a trading halt on the shares were lifted, following the gas leak fire that occurred in Putra Heights, Selangor, on Tuesday.

Petronas Gas opened 1% lower at RM16.70 at 10am. The stock hit a low of RM16.50 a share shortly after before gaining lost ground to close unchanged at RM16.88 a share, giving it a market capitalisation of RM33.4 billion. Some 855,900 shares changed hands.

Gas Malaysia, on the other hand, opened 0.9% lower at RM4.27. It hit a low of RM4.20 a share before rebounding to close 1.16% higher to RM4.36, giving it a market capitalisation of almost RM5.6 billion. Some 1.38 million shares changed hands.

The two companies released separate statements to Bursa Malaysia on April 1, 2025, following the fire that broke out at Petronas Gas’ main pipeline near Puchong. The incident resulted in 305 victims, the majority of whom sustained burn and heat inhalation injuries. Additionally, 237 homes, 275 cars and 56 motorcycles were also damaged.

Gas Malaysia in its statement said it was notified of temporary closures at some gas facilities, which could cause supply disruptions in parts of the Klang Valley. The company is still assessing the impact and is in contact with affected parties.

Meanwhile, Petronas Gas announced that the pipeline which was affected by the fire was isolated, with the fire contained by 4:00pm the same day.

“PGB is working with relevant parties to ensure the safety of the community, protect the environment, and secure the gas supply. The financial and operational impact is still being assessed, and further updates will be provided,” it said.

A MIDF Research analyst has put early estimates on the impact to Petronas Gas at between RM18 million and RM25 million. This covers revenue loss from the affected pipeline (10%-15%), repair costs (25-30%), public compensation (25%-35%) and reputational management.

Petronas Gas reported a marginal growth in net profit of RM1.84 billion for the financial year ended Dec 31, 2024 on revenue of RM6.54 billion.

Gas Malaysia reported a 15% jump in net profit to RM441.39 million for the financial year ended Dec 31, 2024 against almost flat revenue of RM8 billion.

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