PETRONAS GAS BERHAD - MalaysiaStock.Biz...PETRONAS GAS BERHAD (101671-H) AT A GLANCE ABOUT US MESSAGE TO SHAREHOLDERS STRATEGY & OUTLOOK PERFORMANCE REVIEW 5-YEAR FINANCIAL HIGHLIGHTS

www.petronasgas.com

PETRONAS GAS BERHAD (101671-H)

Tower 1, PETRONAS Twin Towers, Kuala Lumpur City Centre50088 Kuala Lumpur

Tel: (03) 2051 5000 • Fax: (03) 2051 6555

Results Matter

Annual Report 2015PETRONAS GAS BERHAD (101671-H)

Annual Report 2015

PETRO

NA

S GA

S BER

HA

D (101671-H

)

A B O U T T H E C O V E R

This year’s theme reflects PETRONAS Gas Berhad’s (PGB) continued focus on its ongoing transformation journey. It has been a year with breakthrough

performance despite of challenges and changes, focusing on attaining performance benchmarks as well as enhanced productivity. The journey

continues as we strive to attain sustainable world-class standards befitting our role as a Leading Gas Infrastructure and Utilities Company.

PGB has transformed the Company’s business and operations fundamentals in

order to perform stronger operational excellence and safety performance. Building upon this foundation, we are accelerating our ambitious transformation

efforts in order to elevate our performance to the next level.

We are confident that our overall strategic direction will continue to strengthen our presence and provide a sustainable and resilient future for PGB amidst a

challenging business landscape.

We will endure to stretch our limits to transform the organisation beyond the expectations of our stakeholders by performing to deliver superior results.

Hence, we Transform to Perform as the Results Matter.

174Corporate Governance

VENUE :

Sapphire Room, Mandarin Oriental Hotel, Kuala Lumpur

DATE :

Tuesday, 26 April 2016

TIME :

10.30 a.m.

T H I R T YT H I R D

A N N U A L G E N E R A L M E E T I N G

10Chairman’s Statement

T H I S R E P O R T

110Business Review

FACTS AT A GLANCE

+9.1 %2015: 60 sen

+7.8 %2015: RM2.0 billion

+1.5 %2015: RM4.5 billion

REVENUE DIVIDENDS PER SHARE PROFIT AFTER TAX

INDUSTRIALSUPPLYTO PETROCHEMICALCUSTOMERS INKERTIH AND GEBENG

UTILITIES

530

mm

scfd

LNGREGASIFICATION

IN SUNGAI UDANG, MELAKA

TERMINAL

2,000OFFERS MORE THAN

OPERATING

mm

scfd

KM

PROCESSING CAPACITY THROUGH

GAS TRANSMISSION PIPELINE ACROSS MALAYSIA

MORE THAN

GAS PROCESSING PLANTS

2,500OPERATING

IN KIMANIS, SABAH

3 BLOCKS OF POWER PLANTS

MW300

2ND LNG REGASIFICATION TERMINALIN PENGERANG, JOHOR

72KM PIPELINE CONNECTING TOUNDER CONSTRUCTION

PETRONAS Gas Berhad (PGB) has been in business for more than 3 decades

and is still growing strong +2.4 %2015: RM22.70

SHARE PRICE

OUR STRENGTH

+9.7 %2015: RM11.6 billion

TOTAL ASSETS TOTAL EQUITY

490

mm

scfd

+8.5 %2015: RM14.4 billion

AT A GLANCE

Facts at a Glance

02 Vision, Mission and Shared Values

04 2015 Key Highlights

06 5-Year Financial Highlights

THE RIGHTRESULTS

WHATWE DO

BUSINESS REVIEW

110 Gas Processing

118 Gas Transportation

126 Utilities

134 Regasification

MESSAGE TO SHAREHOLDERS

10 Chairman’s Statement16 MD/CEO’s

Business Review

ABOUT US

26 Our Profile

28 Our Presence and Operations

32 Group Corporate Structure

34 Group Organisational

Structure

36 Corporate Information

38 Board of Directors

40 Profile of Board of Directors

48 Management Committee

50 Profile of Management

Committee

STRATEGY AND OUTLOOK

60 Our Integrated Value Chain

62 Our Group Strategy

64 Strategic Priorities and

Focus Area

70 Our Key Risk Management

74 Overview of Financial Risk

Management

75 Sustainable Value Creation

76 Our Key Relationship

78 Industry Review and

Outlook

PERFORMANCE REVIEW

82 Group Financial Review

90 Key Performance

92 Simplified Group Statement of

Financial Position &

Segmental Analysis

96 Group Quarterly Financial Performance

97 Non-financial Performance Indicator

98 Key Interest Bearing Assets

and Liabilities

98 Statement of Value Added

99 Distribution of Value Added

100 Investor Relations

S T A R T E DP E T R O N A S G A S B E R H A D

ABOUT US STRATEGY & OUTLOOKPERFORMANCE

REVIEW

WE CARE

CORPORATE GOVERNANCE

174 Corporate Governance Statement

185 The Malaysian Code on

Corporate Governance 2012

187 Training Programmes Attended

by Directors

189 Additional Compliance

Information

192 Statement on Risk Management

and Internal Controls

207 Business Continuity Management

209 Nomination and Remuneration

Committee Report

213 Nomination and Remuneration

Committee’s Terms of Reference

216 Board Audit Committee Report

220 Internal Audit

222 Board Audit Committee’s

Terms of Reference

225 Code of Conduct and

Business Ethics

ACHIEVEMENTS

228 Corporate Milestones:

Our Journey 1983-2016

230 2015 Significant Events

232 2015 Media Milestones

234 2015 Calendar of Events

240 Awards and Achievements

242 Past Awards

SUSTAINABILITY

142 Health, Safety & Environment

144 Innovation

146 Human Capital Development

150 Corporate Responsibility

154 Marketplace

160 Workplace

164 Environment

168 Community

OTHER INFORMATION

334 Analysis of Shareholdings

334 Classification of Shareholders

335 List of Top 30 Shareholders

337 List of Directors’ Shareholdings

337 List of Substantial Shareholders

338 Authorised & Issued Share Capital

339 Summary and Usage of Landed

Property, Plant and Equipment

350 Top 10 Landed Property Plant &

Equipment

351 Corporate Directory

352 Global Reporting Initiative (GRI)

Content Index

354 Notice of Annual General Meeting

357 Statement Accompanying Notice of

33rd Annual General Meeting

358 Administrative Details for the

33rd Annual General Meeting

OUR RIGHT RESULTS

246 Statement of Directors’ Responsibility in relation to the Financial Statements

247 Financial Statements

ABOUT THIS REPORT

• Proxy Form

For ease of reading our Annual Report, the following icons have been incorporated at the relevant pages to direct you to the relevant section for more detail information.

We are pleased to present our Annual Report to our shareholders. This year, we have embarked

on the integrated reporting journey and progressively we are adopting this evolving area of best

practices and commitment towards sustainability, transparency and effective corporate reporting.

We have also incorporated sustainability reporting, in line with the guidelines by Global Reporting

Initiative (GRI), in our efforts to make our operations sustainable and transparent.

Current Active Section

Non-active Section

Integrated Reporting cross-referencing

Related Integrated Reporting Section

P E T R O N A S G A S B E R H A D(101671-H)

AT A GLANCE ABOUT USMESSAGE TO SHAREHOLDERSSTRATEGY &

OUTLOOKPERFORMANCE

REVIEW

A LEADING GAS INFRASTRUCTURE AND

UTILITIES COMPANY

VISIONG4-4

SHARED VALUES

LOYALTY INTEGRITY

A N N U A L R E P O R T 2 0 1 5

SUSTAINABILITYBUSINESSREVIEWCORPORATE

GOVERNANCE ACHIEVEMENTSOUR

RIGHT RESULTSOTHER

INFORMATION

MISSION• WE ARE A BUSINESS ENTITY

• GAS INFRASTRUCTURE AND UTILITIES IS OUR CORE BUSINESS

• WE OPERATE SAFELY, RELIABLY AND COMPETITIVELY

• WE OPTIMISE THE GAS VALUE CHAIN TO MAXIMISE RETURNS FOR OUR STAKEHOLDERS

COHESIVENESSPROFESSIONALISM



OUTLOOKPERFORMANCE

REVIEW

2015 KEY HIGHLIGHTSG4-9

SECURED EXTERNAL FINANCING

USD500 MILLION

SUSTAINABLE PROFIT AFTER TAX

RM2.0 BILLION

STURDY TOTAL ASSETS

RM14.4BILLION

60 SEN

TOP MOST DIVIDENDS

HIGHEST EVER REVENUE

RM4.5 BILLION

Our transformation has helped us deliver tremendous results, built upon

strategic top line and bottom line discipline and vigorous delivery of operational performance. We will

continue to Transform to Perform above and beyond expectations to

deliver Results Matter to our shareholders and stakeholders.

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

GAS PROCESSING AND GAS TRANSPORTATION AGREEMENTS

Full year implementation

EXEMPLARY PERFORMANCE OF LIQUID PLANT EXTRACTION

8 months Performance Based Structure income

LNG REGASIFICATION TERMINAL PENGERANG PROJECT

Advancing well and on track

PLANT REJUVENATION AND REVAMP PROJECT

Completion of the last series for Gas Processing Plant 4

KIMANIS POWER PLANT

Full year commercial operations

On schedule with quick wins achieved 66%

PGB TRANSFORMATION



OUTLOOKPERFORMANCE

REVIEW

5-YEAR FINANCIAL HIGHLIGHTSG4-9, G4-13

Dividends Per Share(sen)

Profit After Tax(RM million)

Revenue(RM million)

Note:

* Financial year 2011 comprises nine-month period ended 31 December 2011.



RIGHT RESULTSOTHER

INFORMATION

A N N U A L R E P O R T 2 0 1 5

Earnings Per Share (EPS)(sen)

Total Equity(RM million)

Share Price(RM)

Total Assets(RM million)

Market Capitalisation(RM million)

Note:

* Financial year 2011 comprises nine-month period ended 31 December 2011.

WE

ACHIEVE

I am pleased to note that 2015 marked another illustrious year for the Group, as revenue hit the RM4.5 billion milestone with improved profit for the year of RM2.0 billion. Market capitalisation closed the year at RM45.0 billion, testifying to PGB’s strong standing among the prominent corporations listed on Bursa Malaysia.

GOALS.our

WILL

The deter iorat ion in oi l pr ice performance that began from the second half of 2014 continued unabated in financial year 2015 (FY2015), making it a year replete with challenges not just for the oil and gas sector, but also the Malaysian economy as a whole, given the former’s significant contribution to overall economic wellbeing. Not surprisingly, the Ringgit continued to underperform its peers in the region, experiencing a

TAN SRI DATO’ SERI SHAMSUL AZHAR BIN ABBAS Chairman

PETRONAS Gas Berhad

marked decline against the USD, although this was also on account of the US Federal Reserve’s highly anticipated interest rate hike. Despite such challenges, Malaysia managed to sustain commendable economic growth for the full year of 2015 as gross domestic product (GDP) expanded by 5.0%, supported by private sector demand and growth in crucial domestic sectors.

REVENUE

PROFIT AFTER TAX

A N N U A L R E P O R T 2 0 1 5

SUSTAINABILITY CORPORATEGOVERNANCE ACHIEVEMENTSOUR

RIGHT RESULTSOTHER

INFORMATIONBUSINESS

REVIEW

In the same vein, PETRONAS Gas Berhad (PGB) sustained respectable performance in FY2015 in spite of the aforementioned headwinds on account of accrued benefits arising from the implementation of the Gas Processing A g r e e m e n t ( G P A ) a n d G a s Transportation Agreements (GTA) effective from 1 April 2014. This, in combination with the sure and steadfast dedication of our talented team and support from our stakeholders, help fortify the foundations of PGB’s business further to ensure that we can continue to deliver superior value to all stakeholders despite the various challenges in store.

As the new Chairman of PGB, I am privileged to present to you an overv iew of our f inancia l and operational performance and our ongoing transformation programme termed 3ZERO100 PGB Transformation that is envisioned to take us to the next chapter of PGB’s growth story.

HIGHLIGHTS OF THE YEAR

As aforementioned, our top line continued to receive a boost from the implementation of the GPA and GTA that were signed with PETRONAS effective from 1 April 2014. These agreements, to remain valid for 20 years from the date of activation, provide a two-pronged stimulus to o u r r e v e n u e b a s e v i a h i g h e r reservation charge and capacity booking.

Revenue of our Gas Processing (GP) segment improved by 3.6%. Likewise, we performed better in Overall Equipment Effectiveness (OEE) and reliability for our liquid products, which contributed to our highest-ever GP ethane production last year. Our Gas Transportation (GT) segment experienced commendable expansion f r o m F Y 2 0 1 4 d u e t o h i g h e r transportation capacity reservation arising from the GTA, which resulted in an increase of 1.9% in revenue. GT also maintained its world-class transmission reliability at 99.92%.

Upon completion of all three blocks in November, our Kimanis Power Plant achieved its full 12 months in operations during the year without any major interruptions. This has resulted in improved reliability of electricity supply in Sabah.

At this juncture, I am pleased to announce that we have recently secured a USD500 million term loan facility from Mizuho Bank with the intention to fund our growth projects moving forward. This is our first bank borrowing in years, in line with our objective of achieving an optimal capital structure to maximise returns to our shareholders.

MARKET CAPITALISATION

EARNINGS PER SHARE

DIVIDENDS

RM45.0BILLION

100.4SEN

60SEN

12



REVIEWAT A GLANCE

CHAIRMAN’S STATEMENTG4-1

MESSAGE TO SHAREHOLDERS

PERFORMANCE

FY2015 was another illustrious year for PGB with revenue coming in at RM4.5 billion, a step-up of 1.5% or RM0.1 billion from RM4.4 billion in FY2014 due to continued strength in our GP segment, as well as GTA-derived growth in our GT segment.

Our Regasification segment also augmented our earnings, with FY2015 being the second ful l year of operations for our Sungai Udang, Melaka-based liquefied natural gas (LNG) Regas i f i ca t ion Termina l (RGTSU). The sustained performance of our Regasi f icat ion segment buttressed our ability to enhance the security and reliability of gas supply nationwide.

The heartening results above helped mitigate the weakness in our Utilities segment that was premised on lower sales of electricity, steam, and industr ia l gases due to lower customers’ offtake.

Profit for the year registered at RM2.0 billion, an improvement of 7.8% primarily from lower tax expense due to recognition of deferred tax assets (DTA) ar is ing f rom the investment tax allowance (ITA) and reinvestment allowance (RA) granted for our Plant Rejuvenation and Revamp (PRR) project. Excluding such tax incentives and foreign exchange, profit for the year increased by RM1.6 million or 0.1%, in reflection of higher revenue and other income.

TRANSFORMATION PROGRESS

FY2015 saw the continuation of PGB’s unwavering dedication to our 2-year transformation agenda. Indeed, our recent annual reports have variously carried the theme of transformation and our latest 3ZERO100 PGB Transformation programme serves to concret ise our commitment to transform to perform.

The journey continues as we strive to attain sustainable world-class standards befitting our role as A Leading Gas Infrastructure and Utilities Company.

Commencing in December 2014, this initiative aims to make PGB a high-performance organisation by completely eliminating Health, Safety and Environment (HSE) issues, non-compliance and interruptions whilst attaining maximum product delivery reliability. Such goals are to be accomplished via the employment of efficient and sustainable systems and work processes, as well as a highly engaged and capable workforce.

At this juncture, I am pleased to note that significant progress has been made within the year, in particular at our GP and Utilities business divisions, w h e r e c o m m e n d a b l e H S E performance was documented. The progress would certainly spur us in our quest for complete achievement of our transformation programme aimed by the end of FY2016.

My fellow Board members and I will be unrelenting our focus in this respect, given the criticality of our transformation aims in achieving o u t s t a n d i n g a n d s u s t a i n a b l e performance that will help PGB navigate through the potential storms ahead. Indeed, we will continue to request for more stringent applications of safety measures and procedures, in keeping with our responsibility to p r o v i d e o u r e m p l o y e e s a n d surrounding communities with safe a n d h e a l t h y w o r k a n d l i v i n g environments. In addition, we will zero in on our systems and processes to reduce non-compliance and interruptions for maximum reliability in our product delivery.

PROJECT UPDATES G4-13

Despite the myriad challenges in the operating environment, our PRR 4 project at the Gas Processing Plant 4 (GPP4) in Kertih – the last in the series of PRR projects – achieved Initial Acceptance for Kertih Compressor Station B (KCSB) and GPP4 on 25 February 2015 and 1 April 2015, respectively. This status confers on our GP segment the ability to sustain its plant reliability and integrity for another 20 years while helping to prevent the incurrence of any major repair and maintenance costs.

13

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION



REVIEWAT A GLANCEMESSAGE TO

SHAREHOLDERS

CHAIRMAN’S STATEMENT

Construction of our LNG Regasification Terminal in Pengerang (RGTP) is progressing per schedule with aggressive construction of the two storage tanks. This terminal, to be the second in the country, will supplement the business growth of PETRONAS Downstream at the Refinery and Petrochemical Integrated Development (RAPID) in the Pengerang Integrated Complex (PIC) upon commissioning. Despite the gloomy global economic situation, we are on track to complete construction of the first storage tank by end 2017.

The Pengerang Gas Pipeline Project (PGPP) is also on track and is expected to be completed by 2016. This will enable the supply of gas from RGTP to the exist ing Peninsular Gas Utilisation (PGU) pipeline network, or from the PGU to PIC.

Upon signing of the Heads of Agreement for our Air Separation Unit (ASU) project in Pengerang in 2014, we are working closely with our potential partner and moving towards achieving our Final Investment Decision (FID) by the second quarter of 2016.

RETURN TO SHAREHOLDERS

The Group’s resilient performance, coupled with our shareholders’ staunch support, has enabled PGB to achieve an increase in market capitalisation to RM45.0 billion as at end 2015, further bolstering the prominence of our brand in Corporate Malaysia.

In l ight of this, the Board has approved a dividend of 60 sen per ordinary share for the year. This represents a normalised dividend payout ratio of 77.0% – a level that is on par with, if not better than, the industry average.

OUTLOOK G4-8

We believe that a number of factors will stand PGB in good stead to face the challenging times ahead.

Although the global oil and gas sector is expected to remain in the doldrums for an extended period, comfort can be derived from the GPA and GTA, which confer much-coveted stability on our revenue base, particularly from our GP and GT segments. Indeed, we opine that these business activities are sustainable for the foreseeable future, given the stable outlook for gas as an essential component in power generation and industry.

While our Utilities segment should continue performing on the back of demand from petrochemical customers, we expect our Regasification segment to remain profitable on the back of capacity reservation by PETRONAS for regasification and storage fees under the Regasification Service Agreement.

Our steadfast focus on improving company-wide safety and operating efficiencies through our ongoing 3ZERO100 PGB Transformation programme will also serve to enhance our overa l l sus ta inabi l i ty and profitability. Additionally, aside from

our projects in the pipeline that aim to support the growth of PETRONAS’ refining and petrochemical businesses, we are also confident in our ability to secure new business opportunities in PIC ventures that tie in with our four core competencies of gas processing, gas transportation, industrial utilities, and regasification.

APPRECIATION

I hereby take this opportunity to express my gratitude to my esteemed predecessor and colleague, Datuk Manharlal Ratilal, who has during his stint contributed significantly to PGB’s continued profitability. I would also like to recognise the talents in our Management team for their dedication and astute leadership in bringing PGB through a tumultuous year in oil and gas history. To my fellow members of the Board, thank you for being on this journey together. I always appreciate our mutual sharing of insights and experience, for there is always something we can learn from others.

Finally, but no least important, I wish to acknowledge and thank the various federal and s tate government agencies, authorities and regulators for their unstinting support, as well as our valued shareholders for continuing to place their trust in PGB.

Thank you.

Tan Sri Dato’ Seri Shamsul Azhar bin AbbasChairman

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

IN LINE WITH OUR UNWAVERING

COMMITMENT TO MAKING SAFETY A

KEY PRIORITY IN EVERY ASPECT OF OUR OPERATIONS

CEO’sB U S I N E S S R E V I E WM D /

F I N A N C I A L Y E A R 2 0 1 5 ( F Y 2 0 1 5 ) M A R K E D

A N O T H E R P O S I T I V E Y E A R F O R P E T R O N A S G A S

B E R H A D ( P G B ) A N D T H E C O M P A N Y R E M A I N S

H I G H L Y C O M M I T T E D T O D E L I V E R R E S U L T S T H A T

M A T T E R T O O U R S H A R E H O L D E R S . I N A D D I T I O N ,

W E C O N T I N U E T O B E A C C O R D E D W I T H V A R I O U S

A W A R D S A N D R E C O G N I T I O N S O N A C C O U N T O F

O U R C O N T I N U O U S E F F O R T T O I M P R O V E O U R

O P E R A T I O N A N D I N N O V A T I O N .

YUSA' BIN HASSANManaging Director/Chief Executive Officer

PETRONAS Gas Berhad




SHAREHOLDERS

CEO’sO u r o n g o i n g t r a n s f o r m a t i o n programme, called the 3ZERO100 PGB Transformation, has been the heartbeat of our organisation. We constantly strengthening our human capital, improving our systems and work processes to ensure safe, reliable and efficient plants and facilities.

These efforts put us in good stead in facing challenging environment as demonstrated in our performance last year . The focus on our core responsibilities would also better prepare us for any future growth opportunities.

With this in mind, I am pleased to present in the following pages of our operating and financial performance for FY2015.

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

MD/CEO’S BUSINESS REVIEW

3ZERO100 PGB TRANSFORMATION

At PGB, we take pride in our forward-looking, progressive stance that permeates at al l levels of the organisation. At the heart of our “Transform to Perform” thrust is our 3ZERO100 PGB Transformation programme that truly encapsulates this preparedness and commitment t o s t a y a b r e a s t o f i n d u s t r y developments, ensuring we adapt in a timely and effective manner to changes in the playing field.

The 3ZERO100 PGB Transformation is conceived with the aim of achieving zero HSE incident, zero interruption, zero non-compliance and 100% product delivery reliability. Various strategic initiatives and focus were drawn up to focus on our asset and asset management strategy, our work processes, our talent development as well as building a High Performance organisation work culture.

During the year under review, our g a s p r o c e s s i n g r e c o r d e d commendable Overall Equipment Effectiveness (OEE) improvement for ethane, propane and butane. Ethane OEE has trended above target for eight months in the year translating into achievement of Performance Based Structure income. Similar trend achieved for propane and butane. In addition, Gas Processing segment r e c o r d e d a n i m p r o v e d H S E achievement with 7.3 million safe manhours.

We are on track on our transformation with significant milestones achieved in each area under review.

OPERATIONAL PERFORMANCE G4-8

In FY2015, PGB’s Gas Processing Plants (GPP) processed on average 1,682.0 million standard cubic feet per day (mmscfd) of salesgas. The Malaysia-Thailand Joint Development Area channelled 345.9 mmscfd of gas into our Peninsular Gas Utilisation (PGU) pipeline network, while an additional volume of 197.1 mmscfd came from our liquefied natural gas (LNG) Regasification Terminal in Sungai Udang, Melaka (RGTSU). These bring the total salesgas transported to PETRONAS’ customers via PGU network to 2,225.0 mmscfd.

Our s teadfas t commitment to excellence is clearly seen in our reliability performance indicators. In our Gas Processing segment, our GPP susta ined their re l iabi l i ty p e r f o r m a n c e w i t h m a r g i n a l performance fluctuation. Our salesgas reliability remained high at 99.2%, while reliability for ethane rose to 95.5%. Likewise, reliability for propane and butane both rose to 96.5% from 95.6% in FY2014. Equally, our Gas Transportation segment also recorded high transmission system reliability and availability at 99.92% and 99.87%, respectively in the year under review.

Notwithstanding some plant-related issues, our Utilities Division achieved s t rong re l iabi l i ty numbers for electricity, steam, and industrial gases a t 96 .4%, 95 .9%, and 94 .4%, respectively on the back of various initiatives to optimise plant operational performance in FY2015.

Our Regasification unit follows similar trend, with significant improvements observed for reliability and availability from FY2014 that ensured our delivery of gas consistently met PETRONAS’ customers demand.




SHAREHOLDERS

We are pleased to report that our Kimanis Power Plant (KPP), owned by Kimanis Power Sdn Bhd (KPSB), a joint venture with NRG Consortium (Sabah) Sdn Bhd, an investment arm of Yayasan Sabah and managed by Kimanis O&M Sdn Bhd has its full year of operations during the year with plant availability and reliability of 95.4% and 99.2% respectively. This has positively contributed to the power supply reliability in Sabah. KPSB also maintained zero HSE incident. This three-block, gas-fired 300 MW power plant utilises natural gas from the PETRONAS-owned Sabah Oil and Gas Terminal (SOGT) and figures prominently in the ‘Power Up Sabah’ initiative, established under the Malaysian Economic Transformation Plan (ETP).

In FY2015, in line with our ongoing 3ZERO100 PGB Transformation programme, we cont inued to prioritise good HSE standards and are pleased to note that our concerted efforts to maintain a high level of s a f e t y y i e l d e d i m p r o v e d H S E performance for most aspects of our operations.

SALESGAS RELIABILITY

ETHANE RELIABILITY

99.2%

95.5%

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION




SHAREHOLDERS

FINANCIAL PERFORMANCE

PGB had in FY2015 consistently met our obligations under the Gas Processing Agreement (GPA) and Gas Transportation Agreements (GTA) signed with PETRONAS in 2014. As per FY2014, these arrangements provide PGB with a sustainable income stream for delivering our baseline gas processing performance, while offering the opportunity to secure Performance Based Structure (PBS) income.

As such, we are pleased to report that PGB achieved total revenue of RM4.5 billion, a 1.5% or RM0.1 billion increase from RM4.4 billion recorded in FY2014. This accomplishment was primarily attributable to higher gas processing and gas transportation revenue in line with higher reservation charge and capacity booking by PETRONAS under the GPA and GTA.

Our profit for the year rose 7.8% to RM2.0 billion from FY2014, attributed to tax incentives for our Plant Rejuvenation and Revamp (PRR)project totalling RM443.1 million. Normalised profit after tax for the year rose by RM1.6 million or 0.1%. This yields a 7.3 sen increment to earnings per share to 100.4 sen for FY2015, in tandem with higher net prof i t at t r ibutable to ordinary shareholders of the Company.

Unrealised foreign exchange losses, however, impacted on our Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA), which came in lower by 10.8% at RM2.8 billion. Excluding this effect, EBITDA fell just 6.1%.

PROJECT PROGRESS UPDATES G4-13

Effective transformation requires an in-depth, systematic approach that takes prudent practices and long-term perspectives into account. In aiming to extend the useful life of our fac i l i t ies , we had successfu l ly completed our PRR4 project at Gas Processing Plant 4 (GPP4), Dew Point Control Unit 2, and Kertih Compressor Station B (KCSB), all of which are located in our Gas Processing Kertih (GPK) complex. Of note, PRR4 had achieved Initial Acceptance on 1 April 2015 adding at least an additional 20 years life to the asset. We will continue to carry out this initiative from time to time to ensure sustained reliability of our gas processing performance and Malaysia’s gas supply as a whole.


REVENUE

PROFIT AFTER TAX

RM4.5BILLION

RM2.0BILLION

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

In a similar manner, our Regasification segment undertook various capital expenditure projects in FY2015, including the Regasification Minimum Send Out Capability Improvement ( R G T E C ) p r o j e c t t o o p t i m i s e PETRONAS’ overall supply chain and increase p lant re l iab i l i t y and availability. The project is partly completed, with full completion targeted for December 2016.

In similar vein, our LNG Regasification Terminal project in Pengerang, which will be fuelling the business growth of PETRONAS Pengerang Integrated Complex (PIC) is progressing well towards successful commissioning in 2017. Another ancillary facility that we are currently working on towards achieving Final Investment Decision with our potential joint-venture partner is the Air Separation Unit (ASU) in Pengerang. ASU Pengerang will be integral to the supply of industrial gases to Operating Units in the PIC, with a target to meet the PIC’s Refinery First Start-Up by fourth quarter of 2018.

Our Gas Transportation segment’s Pengerang Gas Pipeline Project is close to 80% completion as of end-2015. This project, upon completion in 2016, will connect gas from our a f o r e m e n t i o n e d u p c o m i n g regasification terminal to provide fuel requirements for PIC and able to flow gas into the Peninsular Gas Utilisation (PGU) pipeline network and vice versa from existing PGU pipeline network to PIC. Another major project is the Tebong City Gate in Melaka, which was completed in December 2015. This facility serves to meet additional demand from Gas Malaysia Berhad.

Gas Transportation segment is also embarking on an Operations and Maintenance Benchmarking exercise in 2016 to identify areas for further improvement, and further cost optimisation.

CORPORATE RESPONSIBILITY

Our Corporate Responsibility (CR) focuses on three pillars – education, community wellbeing and development as well as environment – at the Marketplace and Workplace; and in the Environment and Community.

Corporate Responsibility at the Marketplace

As a listed entity, we practise open communication channels with our various stakeholders to elevate their understanding of our business and also the role of gas as a clean and efficient energy source.

Aside from welcoming delegation visits to our facilities, we also engage proactively with the investment community through our structured Investor Relations Programme and our intuitive and informative website, which serves as an easily accessible online repository of information on o u r f i n a n c i a l p e r f o r m a n c e a s documents such as our press statements, announcements to Bursa Malays ia , and analyst br ief ing materials are uploaded timely for public consumption.



REVIEW


AT A GLANCE MESSAGE TO SHAREHOLDERS

Corporate Responsibility at the Workplace G4-SO3

W e h a v e t h r o u g h o u t F Y 2 0 1 5 endeavoured to strengthen our existing human capital through rigorous capability development programmes such as the Technical Manager Competency Assessment Programme for our Business Technical Managers, as well as the Downstream Grounding Programme for all our new technical personnel. Internal mobility of talent was encouraged via i n t e r d e p a r t m e n t a l t r a n s f e r s , promotions, and succession planning.

Indeed, at PGB, we strive to create a workplace where employees are not only able to develop their careers, but are also able to do so in a h a r m o n i o u s e n v i r o n m e n t characterised by inclusiveness and acceptance. We pride ourselves in our upholding of the Human Rights Act in Malaysia where all our policies and procedures are a lways in compliance with all elements of the said Act. Care has also been taken to draw up an optimal organisational s t ructure to fac i l i ta te a c lear understanding of roles and enable effective empowerment throughout the organisat ion for enhanced motivation of the employees.

Our Management team is also actively engaged with staff at all levels through formal and informal channels to facilitate proper dissemination and understanding of information such as the Company’s strategic direction and transformation programmes. We have created “Tell Me” sessions for staff to air their views on how to improve our systems and processes for greater effectiveness and efficiency, and fosters greater sense of ownership towards the Company.

PGB has put in place a proper mechanism for personnel at all levels to judiciously and systematically deal with grievances and mitigate the d o w n s i d e r i s k s t o e m p l o y e e motivation levels.

At PGB, integrity is of our top priority. We have taken steps to ensure each level of the organisation, from the Board of Directors and senior management to our non-executive staff, is aligned with this stance propagated by PETRONAS through its pol ic ies for ethical behaviour. A w a r e n e s s p r o g r a m m e s w e r e organised throughout the year for all new and existing staff to understand the Company’s policies and procedures and where they can be found for easy reference. Similar to our grievance management system, we have instituted avenues for safe and discreet whistleblowing of corruption and other unscrupulous acts.

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

Corporate Responsibility in the Environment G4EN12, G4-EN13, G4-S01, OG4

PGB views the environment as an integral partner that supports the continued growth of our operations, and thus bel ieves s t rongly in preserving the environment as best as we can.

In FY2015, strategic measures were implemented to monitor and control our greenhouse gas emissions, optimise our consumption of energy and water, and manage our waste disposal through active recycling and recovery. We had also committed s i g n i f i c a n t r e s o u r c e s t o t h e conservation of Malaysia’s precious biodiversity, including establishing collaborations with Non-Governmental organisations to safeguard natural habitats like the Sungai Paka riverine system, a swathe of wetlands and some wildlife sanctuaries in the East Malaysian state of Sabah.

Corporate Responsibility in the Community G4-SO1

PGB shares our fruits of success with the community in which we operate.

Our responsibility to the community encompasses: education, community wellbeing and development. We ensure that all our community-centric p r o g r a m m e s a r e e f f e c t i v e i n addressing the diverse needs of the communities.

In education, we offered financial and educational support to underperforming primary-school students in low-income families under PETRONAS’ Program Sentuhan Ilmu, which saw these students participating in activities that increased their mental and technical preparedness for the Ujian Penilaian Sekolah Rendah (UPSR).

Our community wel lbeing and development activities included the organisation of various programmes t o i m p r o v e t h e l i v e l i h o o d o f underprivileged communities in our spheres of influence. This took the form of our inaugural PGB Free Market (our unique take on the conventional flea market to benefit underprivileged families), flood relief aid in cash and in-kind for flood-affected victims in the worst-hit state of Kelantan, as well as PETRONAS’ Program Sentuhan Kasih, which involved the distribution of 10 kg bags of rice to low-income families during the Ramadan month.


REVIEW


AT A GLANCE MESSAGE TO SHAREHOLDERS


RECOGNITION G4-15

We are pleased that the industry has recognised our efforts in FY2015 as an organisation that makes excellence commitment in everything that we do.

Our Gas Processing segment received several awards and certifications in acknowledgement of its high operating standards. Such recognitions include:

• Institut Kimia Malaysia’s Excellence Award, presented to three of our gas processing laboratories (GPK, Gas Processing Santong, and Tanjung Sulong Export Terminal);

• The Annual Productivity and Innovat ion Conference and Exposition (APIC) 2015’s Gold Medal for emphasising productivity and quality gains in operations; and

Our Utilities arm likewise received commendations that include:

• Institut Kimia Malaysia’s Excellence Award, presented to two of Utilities’ laboratories (Utilities Kertih and Utilities Gebeng); and

• Recognised Innovat ive and Creative Circle (ICC) practitioners by PETRONAS Carigali Sdn Bhd for best-practice sharing of Kaizen/Improvement Team activities and ICC achievements.

Our PGB 2014 Annual Report won the National Annual Corporate Report Awards (NACRA)’s Industry Excellence Award for the “Industrial Products and Technology” category . In addition, we have been bestowed by Focus Malaysia to be the 9th Most Transparent Big Stock Award.

We were also among the top 10 constituents of the FTSE4Good Bursa Malaysia Index, which was selected from the top 200 Malaysian stocks in the FTSE Bursa Malaysia EMAS Index and screened in accordance

wi th t ransparent and def ined Environmental, Social and Governance (ESG) criteria. The index has been designed to identify Malaysian companies with recognised corporate responsibility practices, expanding the range of the benchmarks of the FTSE Bursa Malaysia Index Series for the Malaysian Markets.

These commendations serve a two-pronged function of recognising our past efforts and inspiring us to continue striving for greater heights of success.



RIGHT RESULTSOTHER

INFORMATION

A N N U A L R E P O R T 2 0 1 5

CONCLUSION

All that we have accomplished in FY2015 would not have been possible without support of our people from various levels of organisation, whose contributions are collectively built for future success.

Moving forward, PGB needs to immediately react to the changing landscape of the oil and gas industries in particular maintaining our cost competitiveness and we need to stretch our limit to accelerate our 3ZERO100 PGB Transformation - stronger operational excellence and safety performance. In addition, we have immediately started to focus on long term sustainability efforts which is aimed at improving productivity and efficiency at high competitiveness level towards realising our vision of b e c o m i n g A L e a d i n g G a s Infrastructure and Utilities Company. To achieve this would require the whole organisation to Transform to Perform and deliver Results that Matter.

On behalf of PGB, I wish to thank our former Chairman and Non-independent Director, Datuk Manharlal Ratilal, who helmed the PGB Board of Directors from his appointment to the Board in June 2014 until August 2015. We are thankful for his guidance and astute leadership during his stint, and would extend our best wishes to him for his continued involvement in the PETRONAS family as the Executive Vice-President and Group Chief Financial Officer.

In much the same vein, I wish to thank our present Chairman and Non-Independent Non-Executive Director, Tan Sri Dato’ Seri Shamsul Azhar bin Abbas, who is also the former Group President and Chief Executive Officer of PETRONAS and a respected figure in the oil and gas industry. Tan Sri Shamsul’s appointment to PGB’s Board reinforces the Company’s commitment to further strengthen the mix of competencies and experience of our Board of Directors. We are certainly benefiting from Tan Sri S h a m s u l ’ s e x t e n s i v e p r a c t i c a l experience and business insights in the formulation of PGB’s strategies as well as stewardship of the Company.

I would also like to thank our majority shareholder PETRONAS for i ts unwavering support of PGB. In addition, I am grateful to the various Federal and State Government authorities and agencies, our partners, clients and customers, as well as our employees and shareholders for all of your valued contributions in the past year that continue to make PGB the trusted organisation.

Thank you, and we look forward to your continued support to PGB.

YUSA’ BIN HASSAN


OUTLOOKPERFORMANCE

REVIEW


O U RP R O F I L E

P E T R O N A S G A S B E R H A D ( P G B ) W A S

I N C O R P O R A T E D I N 1 9 8 3 A N D W A S L I S T E D

O N T H E M A I N M A R K E T O F B U R S A M A L A Y S I A

S E C U R I T I E S B E R H A D O N 4 S E P T E M B E R 1 9 9 5

26

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

60.66%PGB

OWNED BY PETRONAS

The Company was initially the wholly-owned subsidiary of PETRONAS, the Malaysia’s national oil corporation, which upon listing owns 60.63% of its shares while the remaining 39.37% is held by financial institutions and retail shareholders.G4-7

Today, it is one of the largest companies on the local bourse, in terms of market capitalisation. The Company is also Malaysia’s leading gas infrastructure and utilities company with core businesses in Gas Processing and Utilities (GPU) and Gas Transmission and Regasification (GTR).G4-4

The Company processes PETRONAS’ natural gas piped from offshore fields, transports the processed gas via Peninsular Gas Utilisation (PGU) pipeline network to PETRONAS’ customers in Malaysia and Singapore. In addition, the Company also supplies steam and industrial gases for its customers at Kertih Integrated P e t r o c h e m i c a l C o m p l e x i n Terengganu and Gebeng Industrial Area in Pahang.

The Company has a staff strength of 2,187 employees nationwide. The majority of the staff are based at its plant operations located in Kertih and Santong, Terengganu and in Gebeng, Pahang.G4-9, G4-10

PGB operates from its headquarter at the PETRONAS Twin Towers in Kuala Lumpur as well as nine regional offices in Peninsular Malaysia and two in East Malaysia.G4-5

In 2013, PGB further broadened its business portfolio with the commissioning of the liquefied natural gas (LNG) Regasification Terminal, the Malaysia’s first regasification facility, in Sungai Udang, Melaka.

Over the years, the Company has expanded its business and this includes venturing into power generation in Sabah in 2011, through its 60% joint venture company, Kimanis Power Sdn Bhd, which commenced full commercial production of electricity end of 2014.


OUTLOOKPERFORMANCE

REVIEW


P E T R O N A S G A S B E R H A D ( P G B )

P O R T F O L I O I S D I V I D E D I N T O

F O U R B U S I N E S S S E G M E N T S :

G A S P R O C E S S I N G , G A S T R A N S P O R T A T I O N ,

U T I L I T I E S A N D R E G A S I F I C A T I O N .

OUR PRESENCE AND OPERATIONS

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION


PERFORMANCE REVIEW

STRATEGY & OUTLOOKABOUT US

MESSAGE TO SHAREHOLDERSAT A GLANCE

OUR PRESENCE AND OPERATIONSG4-6, G4-8

28

A N N U A L R E P O R T 2 0 1 5

OTHERINFORMATION

OUR RIGHT RESULTSACHIEVEMENTS

CORPORATEGOVERNANCESUSTAINABILITY

BUSINESSREVIEW

29

MAIN PIPELINE LENGTH GAS – IN

PGU I : Kertih - Teluk Kalong 32 km 1983

PGU II 713 km

Sector I : Teluk Kalong - Segamat 265 km 1991

Sector II : Segamat - Kapar 241 km 1991

Sector III : Segamat - Plentong 208 km 1991

SALESGAS CUSTOMERS (PENINSULAR MALAYSIA)

1. TNB Paka2. YTL Paka3. TNB Pasir Gudang4. YTL Pasir Gudang5. Senoko Energy6. Keppel Energy7. Pahlawan Power, Tanjung Kling8. Panglima Power, Teluk Gong9. Powertek, Teluk Gong10. TNB Tuanku Jaafar

11. Port Dickson Power12. Genting Sanyen Power13. TNB Serdang14. TNB Connaught Bridge15. TNB Kapar16. GB3 Lumut17. Segari Energy Ventures18. Prai Power19. TNB Gelugor20. Technology Tenaga Perlis Consortium

MAIN PIPELINE LENGTH GAS – IN

PGU III 450 km

Sector I : Meru - Lumut 184 km 1996

Sector II : Lumut - Gurun 130 km 1996

Sector III : Gurun - Pauh 136 km 1996

Loop 1 : Kertih - Segamat 266 km 1999

Loop 2 : Segamat - Meru 228 km 2000

PGB TOTAL PIPELINE LENGTH (IN OPERATION) LENGTH (km)

Main 1,690

Lateral 429

Liquid 373

Sarawak 39

RGTSU 30

Total 2,561

COMPLEX GPP CAPACITY(mmscfd)

GPK 1 310

GPK 2 250

GPK 3 250

GPK 4 250

GPS 5 500

GPS 6 500

Total 2,060

SALESGAS CUSTOMERS (EAST MALAYSIA)

1. SESCO Miri Power Station2. Sarawak Gas Distribution System3. Bintulu Edible Oils Sdn Bhd4. Syarikat Sebangun Sdn Bhd5. Sime Darby Austral Sdn Bhd6. Biport Bulkers Sdn Bhd

30


PERFORMANCE REVIEW

STRATEGY & OUTLOOKABOUT US

MESSAGE TO SHAREHOLDERSAT A GLANCE

OUR PRESENCE AND OPERATIONSG4-9

GAS PROCESSING

Gas Processing is one of PGB’s primary business segments and is operated by our Gas Processing and Utilities (GPU) Division. Our six plants in Terengganu are divided into two complexes, Gas Processing Kertih (GPK) and Gas Processing Santong (GPS), which have a combined capacity to process over 2,000 million standard cubic feet per day (mmscfd) of feedgas for PETRONAS and receives gas processing fees, comprising mainly fixed reservation charges under a 20-year Gas Process ing Agreement (GPA) wi th PETRONAS. The six plants have the capability to produce salesgas, ethane, propane and butane for PETRONAS’ customers.

GAS TRANSPORTATION

Gas Transportation is operated by our Gas Transmission and Regasification (GTR) Division, whereby we manage the gas transmission pipelines covering much of West Malaysia known as the Peninsular Gas Utilisation (PGU) pipeline network. We operate from our main Control Centre located in Segamat, Johor and the salesgas is transported to PETRONAS’ customers via our 2,521 km PGU pipeline. Our current PGU pipeline network has the capacity to transport up to 3,000 mmscfd of gas. We also transport small volumes of salesgas for PETRONAS’ customers via our gas distribution system in Miri and Bintulu, Sarawak, as well as manage the gas pipeline in Kimanis, Sabah. We receive gas transportation fees based on capacity booking following the 20-year Gas Transportation Agreements (GTA) with PETRONAS.

PGB’s four core business segments are Gas Processing, Gas Transportation, Utilities and Regasification.

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

REGASIFICATION

Regasification is operated by our GTR Division. We operate and maintain our offshore liquefied natural gas (LNG) Regasification Terminal Sungai Udang (RGTSU) in Melaka, which began commercial operations in the second quarter of 2013. The facility receives vessels carrying PETRONAS’ LNG imported from around the world, stores it in two floating storage units and converts the LNG into gas before injecting it into the PGU pipeline network for distribution to PETRONAS’ customers. We receive regasification fee based on capacity underwritten from the 20-year Regasification Service Agreement (RSA) with PETRONAS.

UTILITIES

Utilities is operated by our GPU Division and divided into the two complexes of Utilities Kertih (UK) in Terengganu and Utilities Gebeng (UG) in Pahang. Both are strategically located at Kertih Integrated Petrochemical Complex and Gebeng Industrial Area respectively and provide a competitive edge to the petrochemical plants and surrounding industries with reliable supply of electricity, steam, industrial gases and other by-products like liquid oxygen, liquid nitrogen, demin water, raw water, cooling water and boiler feed water. We receive utilities revenue from the volume of products sold to customers.

31

PETRONAS GAS BERHAD

SUBSIDIARIES JOINT VENTURES

PENGERANG LNG (TWO) SDN BHD

INDUSTRIAL GASES SOLUTIONS SDN BHD

REGAS TERMINAL (LAHAD DATU) SDN BHD

REGAS TERMINAL (SG. UDANG) SDN BHD

KIMANIS POWER SDN BHD*

REGAS TERMINAL (PENGERANG) SDN BHD

KIMANIS O&M SDN BHD*

65%PETRONAS GAS BERHAD





25%DIALOG LNG SDN BHD

50%LINDE MALAYSIA SDN BHD

40%NRG CONSORTIUM (SABAH)

SDN BHD

40%NRG CONSORTIUM (SABAH)

SDN BHD

10%STATE SECRETARY JOHOR

(INCORPORATED)


100% PETRONAS GAS BERHAD

32


OUTLOOKPERFORMANCE

REVIEW


GROUP CORPORATE STRUCTURE

ASSOCIATE

GAS MALAYSIA BERHAD

37%MMC-SHAPADU BERHAD

29%PUBLIC SHAREHOLDERS

19%TOKYO GAS-MITSUI HOLDINGS


* Although the Group has more than 50% ownership in the equity interests of Kimanis Power Sdn Bhd and Kimanis O&M Sdn Bhd, the Group treats these companies as joint ventures in accordance with Malaysian Financial Reporting Standards. This is in consideration that it does not have sole control over these investees as strategic and financial decision of these investees required unanimous consent by all shareholders.

33

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION



OUTLOOKPERFORMANCE

REVIEW

GROUP ORGANISATIONALSTRUCTURE

BOARDOF DIRECTORS

INTERNALAUDIT*

BOARD AUDITCOMMITTEE

NOMINATIONAND REMUNERATION

COMMITTEE

MANAGING DIRECTOR/CHIEF EXECUTIVE OFFICER

MANAGEMENTCOMMITTEE

34

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

GAS PROCESSINGAND UTILITIES

HEALTH, SAFETY AND ENVIRONMENT AND OPERATIONAL EXCELLENCE

FINANCE

COMMERCIALAND CORPORATESERVICES

GAS TRANSMISSION AND REGASIFICATION

HUMAN RESOURCEMANAGEMENT

PLANNINGAND RISKMANAGEMENT

LEGAL ANDCORPORATESECRETARIAT*

* Internal Audit and Legal and Corporate Secretariat functions are

undertaken by Group Internal Audit, PETRONAS and Group Legal,

PETRONAS respectively.

35

CORPORATE INFORMATION

T A N S R I D A T O ’ S E R I S H A M S U L A Z H A R B I N A B B A S

Y U S A ’ B I N H A S S A N

H A B I B A H B I N T I A B D U L

L I M B E N G C H O O N

D A T O ’ N . S A D A S I V A N N . N . P I L L A Y

D A T U K R O S L I B I N B O N I

I R . P R A M O D K U M A R K A R U N A K A R A N

D A T O ’ A B . H A L I M B I N M O H Y I D D I N

DIRECTORS



OUTLOOKPERFORMANCE

REVIEW

36

BOARD AUDIT COMMITTEE*

HABIBAH BINTI ABDULDATO’ N. SADASIVAN N. N. PILLAYDATO’ AB. HALIM BIN MOHYIDDINDATUK ROSLI BIN BONILIM BENG CHOON

NOMINATION AND REMUNERATION COMMITTEE*

LIM BENG CHOONHABIBAH BINTI ABDULDATO’ N. SADASIVAN N. N. PILLAY

COMPANY SECRETARIESINTAN SHAFINAS (TUTY) BINTI HUSSAIN(LS 0009774)

YEAP KOK LEONG(MAICSA 0862549)

REGISTRARSYMPHONY SHARE REGISTRARS SDN BHD(378993-D)LEVEL 6, SYMPHONY HOUSEPUSAT DAGANGAN DANA 1JALAN PJU 1A/4647301 PETALING JAYASELANGOR DARUL EHSANT: +(603) 7841 8000F: +(603) 7841 8151

AUDITORSMESSRS KPMG

BANKING SERVICES PROVIDERPETRONAS INTEGRATED FINANCIAL SHARED SERVICES CENTRE (IFSSC)**

STOCK EXCHANGE LISTINGMAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD

REGISTERED OFFICE AND BUSINESS ADDRESSTOWER 1PETRONAS TWIN TOWERSKUALA LUMPUR CITY CENTRE50088 KUALA LUMPURMALAYSIAT: +(603) 2051 5000F: +(603) 2051 6555

WEBSITEwww.petronasgas.com

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

37* As at 24 February 2016.** Banking requirements are managed centrally by IFSSC to enable more efficient banking management for the Group and the Company.

38 4. HABIBAH BINTI ABDUL

Senior Independent Non-Executive Director

1. YEAP KOK LEONG Company Secretary

2. DATO’ N. SADASIVAN N.N. PILLAY Non-Independent Non-Executive Director

3. DATO’ AB. HALIM BIN MOHYIDDIN Independent Non-Executive Director

5. TAN SRI DATO’ SERI SHAMSUL AZHAR BIN ABBAS Chairman Non-Independent Non-Executive Director

From left:

B O A R D O F



OUTLOOKPERFORMANCE

REVIEW

39

6. YUSA’ BIN HASSAN Managing Director/ Chief Executive Officer Non-Independent Executive Director

7. LIM BENG CHOON Independent Non-Executive Director

8. IR. PRAMOD KUMAR KARUNAKARAN Non-Independent Non-Executive Director

10. INTAN SHAFINAS (TUTY) BINTI HUSSAIN Company Secretary

9. DATUK ROSLI BIN BONI Non-Independent Non-Executive Director

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

PROFILE OFBOARD OF DIRECTORS



OUTLOOKPERFORMANCE

REVIEW

Appointed as Director and Chairman of PETRONAS Gas Berhad on 1 September 2015.

QUALIFICATION, SKILLS AND EXPERIENCE

Tan Sri Dato’ Seri Shamsul Azhar bin Abbas holds a bachelor’s degree in Political Science and Economics from Universiti Sains Malaysia, Pulau Pinang; Masters of Science (MSc) in Energy Management from University of Pennsylvania, United States of America; and Technical Diploma in Petroleum Economics from Institute Francaise du Petrole, France.

He was the former President and Chief Executive Officer of Petroliam Nasional Berhad (PETRONAS) from 10 February 2010 to 31 March 2015, a company he joined since 1975 and served in various capacities during his 40-year tenure.

During his leadership, he guided PETRONAS in undertaking strategic landmark projects such as the Pengerang Integrated Refinery and Petrochemical Project (RAPID) in Johor, Bintulu Train 9 Project in Sarawak, PETRONAS Floating LNG Project and the LNG Regasification Terminal Project in Sungai Udang, Melaka.

Tan Sri Dato’ Seri Shamsul Azhar further strengthened PETRONAS’ position through the acquisition of Progress Energy Canada and the development of shale gas to LNG via the Pacific North West LNG project.

He has also served as Chairman of PETRONAS Carigali Sdn Bhd, President/Chief Executive Officer of MISC Berhad and Chairman of MISC Berhad. He also held various directorships within the PETRONAS Group.

EXTERNAL APPOINTMENT

Public listed company

• Chairman, MMC Corporation Berhad• Chairman, NCB Holdings Berhad• Director, Enra Group Berhad (formerly known as Perduren (M) Berhad)

Tan Sri Dato’ Seri Shamsul Azhar has no family relationship with any director and/or major shareholder of PGB. He has no conflict of interest with PGB and has never been charged for an offence.

During the financial year under review, he attended two Board meetings since his appointment.

TAN SRI DATO’ SERI SHAMSUL AZHAR BIN ABBASChairmanNon-Independent Non-Executive Director Malay, Malaysian (age 63, Male)

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

Appointed to the Board of PETRONAS Gas Berhad as Managing Director/Chief Executive Officer (MD/CEO) on 1 July 2013.


Yusa’ graduated with a Bachelor of Science in Mechanical Engineering from West Virginia University, United States of America in 1984.

His career spans over 30 years in PETRONAS covering Petrochemical, Refinery and Gas businesses in operations, projects and commercial areas. He joined PETRONAS’ first Petrochemical plant, ASEAN Bintulu Fertilizer Sdn Bhd (ABF) in 1985 as an Engineer, moving up the ranks holding various engineering positions until 1997.

In 1997, after the completion of ABF’s second plant revamp, he moved to PETRONAS Ammonia Sdn Bhd (now known as PETRONAS Chemicals Ammonia Sdn Bhd – PCASB), where he was involved in the design, construction and commissioning of a new greenfield Ammonia Syngas project. Upon the commercial operations of PCASB he moved to hold various plant senior and top management positions in PETRONAS Penapisan (Terengganu) Sdn Bhd and MTBE Malaysia Sdn Bhd (now known as PETRONAS Chemicals MTBE Sdn Bhd).

During the formation of PETRONAS Chemicals Group in 2010, he was appointed as the first Head of Fertiliser and Methanol Business Division and later assumed the position of Head of Olefins and Derivatives Business in June 2011.

In July 2013, he was appointed to his current position as MD/CEO of PETRONAS Gas Berhad. He is also PETRONAS Skill Group Advisor for Mechanical Engineers SKG12, a position which he has held since 2001.

Yusa’ is also the Chairman of Kimanis Power Sdn Bhd, Kimanis O&M Sdn Bhd, Regas Terminal (Sg. Udang) Sdn Bhd, Regas Terminal (Pengerang) Sdn Bhd, Regas Terminal (Lahad Datu) Sdn Bhd and Pengerang LNG (Two) Sdn Bhd. He also sits on the Board of several companies within the PETRONAS Group.



• Director, Gas Malaysia Berhad

Yusa’ has no family relationship with any director and/or major shareholder of PGB. He has no conflict of interest with PGB and has never been charged for an offence.

During the financial year under review, he attended six Board meetings.

YUSA’ BIN HASSANManaging Director/Chief Executive OfficerNon-Independent Executive DirectorMalay, Malaysian (age 53, Male)

HABIBAH BINTI ABDULSenior Independent Non-Executive DirectorMalay, Malaysian (age 60, Female)

Appointed to the Board of PETRONAS Gas Berhad on 13 September 2013.


Habibah binti Abdul graduated with a Bachelor of Economics (Accounting) from the University of Malaya. She is a Member of the Institute of Chartered Accountants in England and Wales, Malaysian Institute of Certified Public Accountants and Malaysian Institute of Accountants.

She has 34 years of experience in providing audit and business advisory services to several large public listed, multinational and local corporations. She was a former member of the Securities Commission from 1999 to 2002.



• Director, KLCC Property Holdings Berhad

Habibah is also a Director of CIMB Islamic Bank Berhad, a non-listed public company.

COMMITTEE MEMBERSHIP

• Chairman, Board Audit Committee• Member, Nomination and Remuneration Committee

Habibah has no family relationship with any director and/or major shareholder of PGB. She has no conflict of interest with PGB and has never been charged for an offence.

During the financial year under review, she attended six Board meetings and two Nomination and Remuneration Committee meetings.




OUTLOOKPERFORMANCE

REVIEW

LIM BENG CHOONIndependent Non-Executive DirectorChinese, Malaysian (age 56, Male)

Appointed to the Board of PETRONAS Gas Berhad on 4 August 2011.


Lim Beng Choon holds a Bachelor of Science (First Class Honours) in Mathematics and Computer Science from the Australian National University, Canberra, Australia and has attended numerous Accenture Management Training Programmes in the United States of America and the IMD Leadership Programme in Switzerland.

He was the Country Managing Director in Accenture, the global consulting, technology and outsourcing giant before he retired in 2009. He has held various positions during his 28-year tenure in Accenture, including that of Managing Partner for Accenture’s Resources Industry Group (Oil and Gas, Chemicals, Utilities and Natural Resources) in South Asia. He also had oversight of the Management Consulting practice across industries in ASEAN.

Lim also has extensive experience in management consulting which spans strategy formulation, operational consulting and mergers, and has led complex projects to deliver transformational change for multinationals as well as top Malaysian companies. Prior to moving into management consulting, he was involved in technology consulting covering IT Strategies and System Integration work.



• Director, PETRONAS Dagangan Berhad• Director, MISC Berhad


• Member, Board Audit Committee• Chairman, Nomination and Remuneration Committee

Lim has no family relationship with any director and/or major shareholder of PGB. He has no conflict of interest with PGB and has never been charged for an offence.

During the financial year under review, he attended six Board meetings and two Nomination and Remuneration Committee meetings.

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION




Dato’ N. Sadasivan N.N. Pillay graduated in Economics from the University of Malaya in 1963.

Upon graduation, he began his career at the Economic Development Board Singapore where he stayed until 1967. In 1968, he joined the Malaysian Industrial Development Authority (MIDA) and was appointed as its Director-General in 1984, a position he served until his retirement in 1995.



• Director, APM Automotive Holdings Berhad

Dato’ Sadasivan is also a Director of Bank Negara Malaysia and sits on the Boards of seven private companies.


• Member, Board Audit Committee• Member, Nomination and Remuneration Committee

Dato’ Sadasivan has no family relationship with any director and/or major shareholder of PGB. He has no conflict of interest with PGB and has never been charged for an offence.

During the financial year under review, he attended six Board meetings, five Audit Committee meetings and two Nomination and Remuneration Committee meetings.

DATO’ N. SADASIVAN N.N. PILLAYNon-Independent Non-Executive DirectorIndian, Malaysian (age 76, Male)



OUTLOOKPERFORMANCE

REVIEW

Appointed to the Board of PETRONAS Gas Berhad on 1 November 2010.


Datuk Rosli bin Boni graduated with a Bachelor of Science in Petroleum Engineering from the University of Wyoming, United States of America in 1979.

He has 35 years of experience in the petroleum industry and began his career with PETRONAS in 1980 as a Petroleum Engineer. He served as a Field Asset Manager for five years from 1996 to 2000. From July 2000 to March 2004, he was involved in several overseas assignments at managerial level with Premier Oil in United Kingdom, an oil development project in Chad, and exploration project in Bahrain.

From April 2004 to February 2010, he served as the General Manager of the Petroleum Management Unit in the Exploration and Production Division; Senior General Manager of the Operations Division in charge of all production operations in Malaysia and overseas and Senior General Manager of the Corporate Human Resources Shared Services.


Datuk Rosli is also the Chief Executive Officer of Malaysia-Thailand Joint Authority.


• Member, Board Audit Committee

Datuk Rosli has no family relationship with any director and/or major shareholder of PGB. He has no conflict of interest with PGB and has never been charged for an offence.

During the financial year under review, he attended six Board meetings and five Audit Committee meetings.

DATUK ROSLI BIN BONINon-Independent Non-Executive DirectorMalay, Malaysian (age 59, Male)

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION


IR. PRAMOD KUMAR KARUNAKARAN Non-Independent Non-Executive DirectorIndian, Malaysian (age 56, Male)



OUTLOOKPERFORMANCE

REVIEW

Appointed to the Board of PETRONAS Gas Berhad on 25 July 2011.


Ir. Pramod Kumar Karunakaran holds a Bachelor of Science in Communication (Electronics) Engineering from Leeds Polytechnic, United Kingdom.

He joined PETRONAS in 1984 and is currently the PETRONAS Vice President of Infrastructure and Utilities, Downstream Business. Prior to assuming this position, he has held various senior positions including as the Managing Director/Chief Executive Officer of PETRONAS Chemicals Ethylene Sdn Bhd, Senior General Manager and Head of Group Plant Performance Management, Group Technology Solution and General Manager (Plant) of ASEAN Bintulu Fertilizer Sdn Bhd. Ir. Pramod is also the present President of Malaysian Gas Association.

Ir. Pramod sits on the Boards of several companies within the PETRONAS Group.

Ir. Pramod has no family relationship with any director and/or major shareholder of PGB. He has no conflict of interest with PGB and has never been charged for an offence.

During the financial year under review, he attended six Board meetings.

DATO’ AB. HALIM BIN MOHYIDDIN Independent Non-Executive DirectorMalay, Malaysian (age 70, Male)

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION



Dato’ Ab. Halim bin Mohyiddin graduated with a Bachelor of Economics in Accounting from the University of Malaya in 1971, following which he joined the Faculty of Economics of Universiti Kebangsaan Malaysia in Bangi, Selangor as a Faculty member.

He obtained his Master of Business Administration from the University of Alberta, Edmonton, Alberta, Canada in 1973 and subsequently a Diploma in Accountancy from the University of Malaya in 1975.

Dato’ Ab. Halim is a Council Member of The Malaysian Institute of Certified Public Accountants (MICPA) and a Member of the Malaysian Institute of Accountants. He also sits as the Chairman of the Education and Training Committee MICPA. He is a past member of the Education Committee of the International Federation of Accountants and represented Malaysia in the Committee from 2001 to 2005.

He joined KPMG/KPMG Desa Megat & Co in 1977 and had his early accounting training in both Malaysia and the United States of America. He was made a Partner of KPMG in 1985. During his 17-year tenure as a partner, he has held various designations in KPMG and acted as a receiver and manager and liquidator for several companies.

At the time of his retirement on 1 October 2001, he was the Partner in Charge of the Assurance and Financial Advisory Services Division and was also looking after the firm’s Secured e-Commerce Practice.



• Chairman/Director, MISC Berhad• Chairman/Director, Amway (Malaysia) Holdings Berhad• Chairman/Director, KNM Group Berhad


• Member, Board Audit Committee

Dato’ Ab. Halim has no family relationship with any director and/or major shareholder of PGB. He has no conflict of interest with PGB and has never been charged for an offence.

During the financial year under review, he attended six Board meetings and five Audit Committee meetings.

1. YUSA’ BIN HASSAN Managing Director/

Chief Executive Officer

2. MOHD KABIR BIN NOORDIN Head of Gas Processing and

Utilities Division

3. ABDUL RAZAK BIN SAIM Head of Commercial and

Corporate Services Division

4. AIDA AZIZA BINTI MOHD JAMALUDIN

Head of Finance Division

5. IRWAN BIN ABDUL LATIF Head of Health, Safety and

Environment and Operational Excellence Department



OUTLOOKPERFORMANCE

REVIEW

M A N A G E M E N TC O M M I T T E E

6. INTAN SHAFINAS (TUTY) BINTI HUSSAIN

Head of Legal and Corporate Secretariat

7. MOHD FAIROS BIN ROSLAN Head of Planning and Risk

Management Department

8. NORARNIZAR BIN ALI AMRAN Head of Gas Transmission and

Regasification Division

9. BARISHAH BINTI MD HANIPAH Head of Human Resource

Management Division

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

Yusa’ assumed his current position on 1 July 2013.


Yusa’ graduated with a Bachelor of Science in Mechanical Engineering from West Virginia University, United States of America in 1984.

His career spans over 30 years in PETRONAS covering Petrochemical, Refinery and Gas businesses in operations, projects and commercial areas. He joined PETRONAS’ first Petrochemical plant, ASEAN Bintulu Fertilizer Sdn Bhd (ABF) in 1985 as an Engineer, moving up the ranks holding various engineering positions until 1997.

In 1997, after the completion of ABF’s second plant revamp, he moved to PETRONAS Ammonia Sdn Bhd (now known as PETRONAS Chemicals Ammonia Sdn Bhd – PCASB), where he was involved in the design, construction and commissioning of a new greenfield Ammonia Syngas project. Upon the commercial operations of PCASB he moved to hold various plant senior and top management positions in PETRONAS Penapisan (Terengganu) Sdn Bhd and MTBE Malaysia Sdn Bhd (now known as PETRONAS Chemicals MTBE Sdn Bhd).

During the formation of PETRONAS Chemicals Group in 2010, he was appointed as the first Head of Fertiliser and Methanol Business Division and later assumed the position of Head of Olefins and Derivatives Business in June 2011.

In July 2013, he was appointed to his current position as MD/CEO of PETRONAS Gas Berhad (PGB). He is also PETRONAS Skill Group Advisor for Mechanical Engineers SKG12, a position which he has held since 2001.

Yusa’ is also the Chairman of Kimanis Power Sdn Bhd, Kimanis O&M Sdn Bhd, Regas Terminal (Sg. Udang) Sdn Bhd, Regas Terminal (Pengerang) Sdn Bhd, Regas Terminal (Lahad Datu) Sdn Bhd and Pengerang LNG (Two) Sdn Bhd. He also sits on the Board of several companies within the PETRONAS Group.


Director, Gas Malaysia Berhad

NATIONALITYMalaysian

AGE53 Years

YUSA’ BIN HASSANManaging Director/Chief Executive Officer (MD/CEO)



OUTLOOKPERFORMANCE

REVIEW

PROFILE OFMANAGEMENT COMMITTEE

50

Mohd Kabir assumed his current position on 1 July 2015.


Mohd Kabir holds a Degree in Chemical Engineering from University of Leeds, United Kingdom.

His career in PETRONAS began in 1991 as a member of Production Technology at PETRONAS Penapisan (Terengganu) Sdn Bhd. Then he moved to PETRONAS Penapisan (Melaka) Sdn Bhd (PPMSB) in 1993 until 1998 as a Production Specialist.

Mohd Kabir then went on a two-year full scholarship under PETRONAS’ Staff Development Programme where he pursued his study in Chemical Engineering at the University of Leeds, United Kingdom. Upon returning to Malaysia in 2000, he had a short stint at PETRONAS’ Human Resource Management as an Executive.

Soon afterwards, he rejoined PPMSB as a Manager of Production Department and held various positions for about 10 years, until he became the General Manager of Production.

Later in 2011, Mohd Kabir was appointed as the General Manager of Operations at Malaysia LNG Sdn Bhd. He then moved to PGB, where he was entrusted to be the Head of Gas Processing and Utilities Division in July 2015 until now.

He is also a Director of Industrial Gases Solutions Sdn Bhd.


AGE50 Years

MOHD KABIR BIN NOORDINHead of Gas Processing and Utilities Division

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

51

Norarnizar assumed his current position in November 2011.


Norarnizar holds a Bachelor Degree in Chemical Engineering from Universiti Teknologi Malaysia, Johor and Diploma in Mechanical Engineering from the then Institut Teknologi MARA, now known as Universiti Teknologi MARA (UiTM).

He has been in the gas industry for more than 30 years since he began his career as a Project Engineer in the Gas Processing Plant (GPP) Project in 1984, where he was involved in the design and project implementation of the gas processing facilities.

Norarnizar has also acquired vast experience in the gas transmission operation from his assignment in PGB, as the Pipeline Executive, Regional Manager and finally as Senior Manager Operation in 2005.

Prior to his appointment to the current position, he was the Senior Manager of the Operation Engineering Department.

He is currently responsible for the gas transmission and regasification operations of the Company. He also assumes the position of Chief Executive Officer of Regas Terminal (Sg. Udang) Sdn Bhd and Alternate Director on the Board of Pengerang LNG (Two) Sdn Bhd.


Director, Transasia Pipeline Company Pty Ltd


AGE54 Years

NORARNIZAR BIN ALI AMRANHead of Gas Transmission and Regasification Division



OUTLOOKPERFORMANCE

REVIEW


52

Aida Aziza assumed her current position in September 2012.


Aida Aziza holds a Bachelor of Accounting and Finance from the University of Lancaster, United Kingdom. She is a Fellow of the Association of Chartered Certified Accountant of United Kingdom.

Aida Aziza began her career with PETRONAS in October 1996 as an Executive in the Budget Department of PETRONAS and in the ensuing years, held various positions in the PETRONAS Group, including serving as General Manager for the Finance and Accounts Services Department of PETRONAS.

Aida Aziza has more than 19 years of experience in accounting and finance-related assignments. She has led several implementation of Financial Reporting Standard (FRS) and Malaysian Financial Reporting Standard (MFRS) for PETRONAS Group of Companies as well as the implementation of the SAP ECC6.0 for PETRONAS.

She is responsible for the management of all financial and fiscal aspects of the Group, as well as investor relations and procurement. In addition, Aida Aziza is also a Director of Pengerang LNG (Two) Sdn Bhd, Kimanis Power Sdn Bhd, Kimanis O&M Sdn Bhd and Gas District Cooling (UTP) Sdn Bhd.


Alternate Director, Gas Malaysia Berhad


AGE42 Years

AIDA AZIZA BINTI MOHD JAMALUDINHead of Finance Division



RIGHT RESULTSOTHER

INFORMATION

A N N U A L R E P O R T 2 0 1 5

53



OUTLOOKPERFORMANCE

REVIEW

Abdul Razak assumed his current position in February 2013.


Abdul Razak holds a Degree in Mechanical Engineering (Hons) from the University of Wollongong, New South Wales, Australia.

Abdul Razak has been in the gas industry for the past 24 years. He began his career as a Procurement Executive in PGB Transmission Operation Division (currently known as Gas Transmission and Regasification) in 1992. He later held various technical positions within PGB.

In 2002, Abdul Razak was seconded to East Australia Pipeline Marketing Pty Ltd based in Sydney, where he managed the capacity marketing for the 3,000 km Moomba-Sydney gas pipeline. He was also involved in the development of the Papua New Guinea–Queensland pipeline project.

He was then appointed as the Manager for Gas Supply Planning at Gas Business Unit, PETRONAS in 2006 and headed the department from 2008 until 2011. He later led the Gas Business Development Department before joining PGB in 2013.

Abdul Razak is currently responsible for all commercial and corporate services for PGB. He is the Chairman of Industrial Gases Solutions Sdn Bhd as well as a Director of Regas Terminal (Lahad Datu) Sdn Bhd and Gas District Cooling (UTP) Sdn Bhd and Alternate Director on the Board of Pengerang LNG (Two) Sdn Bhd.

He was appointed as the Chief Operating Officer and Board member of Bekalan Air KIPC Sdn Bhd, a subsidiary of PETRONAS.


Director, Transasia Pipeline Company Pty Ltd


AGE50 Years

ABDUL RAZAK BIN SAIMHead of Commercial and Corporate Services Division


54

A N N U A L R E P O R T 2 0 1 5



RIGHT RESULTSOTHER

INFORMATION

Barishah assumed her current position in March 2013.


Barishah graduated in 1986 with a Bachelor in Business Administration (Cum Laude) from the University of Toledo, Ohio, United States of America.

She began her career with PETRONAS in February 1988 as an Executive at the Education Sponsorship. She then held various positions within HRM of PETRONAS from 1991 to 2004 in the areas of remunerations, people development and capability development.

In January 2005, she was assigned as Manager (HR Planning) in PGB. Subsequently, in 2006 she took on the role of Manager, HRM in PETRONAS Chemicals Fertiliser (Kedah) Sdn Bhd.

In December 2011, she was appointed as Manager of Sponsorship and Talent Sourcing at Talent Sourcing and Employee Relations Department, HRM Division, PETRONAS.

Among her major accomplishments during her 28 years of service include the implementation of HRIS/SAP System and the outsourcing of medical administration for PETRONAS, the decentralisation of talent sourcing initiative as well as recruitment brand enhancement initiatives.

She is currently responsible for HRM of PGB. Barishah is also the joint secretary of the Nomination and Remuneration Committee of PGB.


AGE52 Years

BARISHAH BINTI MD HANIPAHHead of Human Resource Management (HRM) Division

55



OUTLOOKPERFORMANCE

REVIEW


Intan Shafinas assumed her current position in March 2012.


Intan Shafinas holds an LLB (Hons) from the University of Leicester, United Kingdom and Certificate in Legal Practice (Legal Profession Qualifying Board, Malaysia). She is also a licensed Company Secretary.

Prior to joining PETRONAS, Intan Shafinas had garnered five years of experience, having worked at several banks. Her career in PETRONAS started in 2001 as Legal Executive with the Petrochemical Business.

In 2007, she was attached to the Corporate Services and Technology Department, Legal Division, providing legal advisory services in the area of intellectual property and commercialisation of technologies. Then in 2010, Intan Shafinas was appointed as PETRONAS Senior Legal Counsel of Corporate Services.

After a one-year stint, she joined PETRONAS Chemicals Group Berhad in 2011. A year later in March 2012, she was appointed as the Senior Manager of Legal and Corporate Secretariat Department, PETRONAS Gas Berhad.

She is currently the Company Secretary, as well as Senior Legal Counsel, Infrastructure and Utilities, PETRONAS Legal Downstream, responsible for all legal affairs and company secretarial services of the Group.

PETRONAS GAS BERHAD - MalaysiaStock.Biz...PETRONAS GAS BERHAD (101671-H) AT A GLANCE ABOUT US MESSAGE TO SHAREHOLDERS STRATEGY & OUTLOOK PERFORMANCE REVIEW 5-YEAR FINANCIAL HIGHLIGHTS

Documents

PETRONAS GAS BERHAD - MalaysiaStock.Biz...PETRONAS GAS BERHAD (101671-H) AT A GLANCE ABOUT US MESSAGE TO SHAREHOLDERS STRATEGY & OUTLOOK PERFORMANCE REVIEW 5-YEAR FINANCIAL HIGHLIGHTS