Gas Malaysia Berhad (GMB) has stabilized gas supply to customers in the northern region and parts of Klang Valley, supported by additional gas from Petronas Gas via the Trans Thailand-Malaysia pipeline.
This follows an explosion at the PGU pipeline in Putra Heights over two weeks ago, impacting nearly 300 industrial customers. While public safety and supply are secured, full restoration and pipeline reconstruction will take time, with curtailment expected to end by April 20, 2025.
The financial impact remains unclear, but insurance negotiations could mitigate losses. GMB is advised to enhance transparent communication to manage its reputation.
MIDF maintains a BUY rating with a target price of RM4.57, with no changes to GMB’s forecast.
Source: MIDF
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