Petronas Dagangan upbeat on liquefied petroleum gas market
KUALA LUMPUR: Petronas Dagangan Bhd, which currently holds about 50% share of the domestic liquefied petroleum gas (LPG) market, remains positive on the LPG industry in the country.
“We have positive outlook on the industry as it is still growing in Malaysia. We plan to grow naturally with the market, depending on the market growth,” its head of LPG business division Ramzulhakim Ramli told reporters at a media briefing here today.
“The market growth last year was about 1.5%,” he added.
The principal domestic marketing arm of Petroliam Nasional Bhd (Petronas) had previously announced its plans to exit the LPG business in the Philippines, with the disposal of its entire stake in Petronas Energy Philippines Inc and 40% stake in Duta Inc for RM532.5 million.
Following that, the group had also sold its LPG bottling and distribution operations in Vietnam, citing the divestment was in line with its portfolio rationalisation.
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