NGC Energy Eyes New Markets Following Ownership Change
KUALA LUMPUR, Oct 20 (Bernama) -- NGC Energy Sdn Bhd is looking to expand into new markets and strengthen its position in Malaysia’s liquefied petroleum gas (LPG) sector following a change in ownership of Perangsang Oil & Gas Sdn Bhd (POGSB), one of its shareholders.
The recent change in ownership of POGSB, previously owned by Kumpulan Perangsang Selangor Bhd, was made through an acquisition involving Manjaran Sdn Bhd and the new shareholder group associated with Rasmadi Corporation and Mutiara Perlis.
The move leaves POGSB's 40 per cent stake in NGC Energy unchanged but shifts its ultimate management and ownership over to the new buyers, while Oman-based National Gas Company SAOG owns the remaining 60 per cent.
NGC Energy chief executive officer Juliana Kamaruddin said the partnership would leverage the strengths of both shareholders, particularly in logistics, infrastructure and market reach, to support the company’s growth and strengthen its position as Malaysia’s second-largest LPG player.
“We look forward to working with them to expand into new markets. They are also excited to do a regional play with the infrastructure projects that they have. Right now, the new shareholders have facilities up in Perlis, which borders Thailand, and their strength in rail connectivity,” she told reporters after the “NGC Energy: A New Chapter” event here today.
On supply security, Juliana said the evolving geopolitical situation in West Asia had highlighted the vulnerability of countries without adequate infrastructure and reliable supply arrangements. “This is critical now to make sure that we remain resilient and able to secure, you know, the livelihood of people in Malaysia,” she added.
About 80 per cent of the company’s market was in the domestic segment, such as commercial and industrial customers, including malls, hospitality operators, hospitals, hotels and factories, and supplying household LPG cylinders under its Mira Gas brand.
At the same time, POGSB chairman Datuk Shabaruddin Ibrahim said Perlis Seaport would play a critical role in NGC Energy’s growth plans, particularly in supporting LPG imports and expanding its market reach.
Meanwhile, National Gas Company chairman Sheikh Abdulla Suleiman Hamed Al Harthy said Malaysia should consider establishing a strategic LPG reserve to strengthen national energy security, protect against supply disruptions and ensure continuity of supply during periods of uncertainty.
He said NGC Energy stands ready to contribute to this ambition, working alongside the government and the industry partners to strengthen Malaysia’s LPG supply chain. “We believe the Malaysian government should review the current Automatic Pricing Mechanism (APM) pricing formula applicable to domestic LPG players. The formula must reflect the realities of today's operating environment and provide a fair balance between the sustainability of suppliers and the affordability of LPG for Malaysian consumers,” he added.
Rasmadi Corporation is an investment holding company backed by Manjaran Sdn Bhd and Berjaya Property Bhd, bringing together business interests and networks across various sectors.
-- BERNAMA