OIL & GAS
 [%zXXA%] [%gITV%] [%anFC%] [%ISOh%]
Research by PIB
Neutral

“Increasing Domestic Capex Momentum”

PETRONAS posted 1QFY24 net profit of RM21.2bn, higher by 28.6% QoQ due to lower production costs and operating expenditures, despite registering lower revenue (-2.2%) on the back of lower sales volume. On a YoY basis, the result is lower by 10.4% on higher production costs, resulting in operating cash flows falling by 8.4% to RM23.4bn for the period. Nevertheless, the overall capital expenditure (capex) increased by 2.0% to RM10.7bn, dominated by domestic capex of RM5.5bn, 19.7% higher against 1QFY23.

Analyst(s):
Khairul Fahmi, CFA
[%CMUa%]

OIL & GAS
 $KLSE-ARMADA $KLSE-DAYANG $KLSE-HIBISCS $KLSE-DIALOG
Research by PIB
Neutral

“Increasing Domestic Capex Momentum”

PETRONAS posted 1QFY24 net profit of RM21.2bn, higher by 28.6% QoQ due to lower production costs and operating expenditures, despite registering lower revenue (-2.2%) on the back of lower sales volume. On a YoY basis, the result is lower by 10.4% on higher production costs, resulting in operating cash flows falling by 8.4% to RM23.4bn for the period. Nevertheless, the overall capital expenditure (capex) increased by 2.0% to RM10.7bn, dominated by domestic capex of RM5.5bn, 19.7% higher against 1QFY23.

Analyst(s):
Khairul Fahmi, CFA
khairul.fahmi@publicinvestbank.com.my

$HIBISCS / 5199 (HIBISCUS PETROLEUM BERHAD)

$DAYANG / 5141 (DAYANG ENTERPRISE HOLDINGS BERHAD)