Petronas Gas Gets Tax Exemption From MOF For Reorganisation

KUALA LUMPUR, Oct 1 (Bernama) – Petronas Gas Bhd (PGB) has received approval from the Ministry of Finance (MOF) for a tax exemption related to its internal reorganisation plan.

PGB informed the stock exchange in a filing that the MOF, via a letter dated Sept 24, 2025, and received on Sept 30, 2025, has granted the exemption, following the board’s approval of the plan on July 23, 2025.

The restructuring will be undertaken through a members’ scheme of arrangement under the Companies Act 2016, involving the transfer of its main businesses, gas transportation, gas processing, and utilities into newly formed wholly owned subsidiaries.

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Under the plan, the gas transportation business will be transferred to PG TransCo Sdn Bhd (TransCo); the gas processing business will go to PG Gas Processing Sdn Bhd (GasPro) and the utilities business will be placed under PG Utilities East Sdn Bhd (UT-East), which is wholly owned by PG Energia Sdn Bhd (Energia), itself a wholly owned subsidiary of PGB. 

PGB said the exercise aims to streamline operations by separating regulated and non-regulated businesses, enhance transparency, strengthen operational focus, and provide greater flexibility in capital management. The company added that the reorganisation will not affect its issued share capital, substantial shareholders’ shareholdings, or materially impact its earnings and net assets for the financial years ending 2025 and 2026.

PGB expects to make the necessary applications within three months, with completion targeted for the third quarter of 2026.

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--BERNAMA