Gas Malaysia Shares Rise 1.01 Pct Amid Higher Oil Prices

KUALA LUMPUR, Sept 15 (Bernama) -- Gas Malaysia Bhd’s share price rose 1.01 per cent during the morning trading session today amid higher oil prices.

At 11.39 am, the counter gained five sen to RM4.98, with 201,800 shares traded.

At the time of writing, global benchmark Brent crude oil climbed 1.31 per cent to US$107.0 per barrel.

In a note today, CGS International Securities Malaysia Sdn Bhd said it has upgraded Gas Malaysia to ‘add’ from ‘hold’, with an unchanged sum-of-the-parts (SOP)-based target price of RM5.50.

“Stronger earnings in the second half of 2026 forecast, sustained strength in oil prices, and news on progress around the Regasification Terminal (RGT) are key re-rating catalysts, in our view.

“Downside risks are lower-than-expected dividend per share, failure to proceed with the RGT and a sharp correction in oil prices,” it said.

-- BERNAMA