PETRONAS Gas Bhd posted a 6.4% decline in net profit to RM438.69 million for the quarter ended March 31, 2026, down from RM468.8 million a year earlier [1, 2, 3, 4]. Revenue slipped about 0.6% to RM1.59 billion. The drop was driven mainly by a 13.1% fall in its utilities segment revenue due to weaker product prices following lower fuel gas costs and revised electricity tariffs implemented on July 1, 2025 [1, 2].

Despite setbacks, PETRONAS Gas's gas transportation and regasification segments delivered positive results, helped by LNG storage services launched at Pengerang, Johor, in August 2025 [1, 2]. However, all business segments faced increased depreciation and repair and maintenance expenses in Q1 2026 [1, 2, 3, 4].

The company declared a single-tier interim dividend of 16 sen per share, payable on June 23, 2026, with a record date of June 10 [1, 2, 3, 4]. On May 19, 2026, its shares dipped 10 sen or 0.6% to RM17.74, valuing the group around RM35.1 billion [1, 2]. PETRONAS Gas remains cautiously optimistic, citing steady earnings from regulated gas transportation, regasification, and processing, though its utilities margins are pressured by fuel gas price volatility amid geopolitical tensions [1, 2].

PETRONAS Chemicals Group Bhd returned to profitability in Q1 2026 with a net profit of about RM401 million after four straight quarters of losses, despite its revenue falling 8% year-on-year to RM7.02 billion [5, 6]. The company has not declared any dividend for the quarter [5].

The profit turnaround was attributed to higher petrochemical prices, stronger product margins, and increased sales supported by supply disruptions in the Middle East rather than improved fundamental conditions [7, 8]. Analysts expressed mixed views. CIMB Investment Bank noted, "We may turn more positive on the stock should supply chain disruptions in the Middle East lead to industry-wide capacity rationalisation, potentially resolving the sector’s overcapacity issue on a more permanent basis" [7]. DA Securities highlighted ongoing geopolitical risks, stating that key petrochemical prices might remain above pre-conflict levels through year-end due to persistent supply interruptions and export controls [8].

PETRONAS Chemicals plans maintenance at its Kertih Complex and ASEAN Bintulu Fertilizer plants during Q2 2026, expected to reduce utilisation rates to around 80% from 87% in Q1 [7, 8]. Its share price rose 23 sen or 4.2% to RM5.68 on May 22, valuing the group at about RM45.4 billion [8].