KUALA LUMPUR: NGC Energy (Malaysia) Sdn Bhd is looking to strengthen its position in the domestic liquefied petroleum gas (LPG) market through a new shareholder partnership that could expand its logistics capabilities, supply chain and market reach.
The company said the broader business networks of its shareholders could open up opportunities to explore new markets and strategic collaborations, complementing its core LPG business.
The development follows a change in ownership of Perangsang Oil and Gas Sdn Bhd (POGSB), previously owned by Kumpulan Perangsang Selangor Bhd, through an acquisition involving Manjaran Sdn Bhd and a new shareholder group associated with Rasmadi Corporation and Mutiara Perlis.
NGC Energy’s direct shareholding structure remains unchanged, with National Gas Company Oman S.A.O.G. retaining a 60% stake and POGSB holding the remaining 40%.
Rasmadi Corporation, backed by Manjaran and Berjaya Property Bhd, brings business interests and networks across various sectors, while its connections with Mutiara Perlis provide exposure to logistics, port infrastructure and energy-related developments, including Perlis Inland Port.
NGC Energy CEO Julianna Kamaruddin said the partnership would allow the company to leverage its shareholders’ strengths to pursue growth opportunities while reinforcing its core LPG business.
“It is an exciting event for us to have our new future, where we foresee the partnership from both parties will be strengthening our focus for LPG business in Malaysia,” she told reporters at the NGC Energy: A New Chapter event today.
“One of the things that we look forward to is the strength of the partners that we have, particularly in terms of the logistics and infrastructure support and the reach to the market,” she said.
Julianna said the collaboration presented opportunities to strengthen NGC Energy’s position as Malaysia’s second-largest LPG player.
The company is also exploring opportunities linked to its shareholders’ facilities in Perlis, which borders Thailand and has rail connectivity to regional markets.
“For now, we look forward to working with them to expand into new markets in Malaysia. As you can see, they are also excited to do a regional play with the infrastructure projects that they have.
“Right now, the new shareholders have facilities in the northern part of Malaysia, in Perlis, which borders Thailand. With their strength in rail connectivity, we are looking into how NGC Energy can be part of that growth and development,” she said.
The company said such opportunities would be explored progressively, subject to commercial feasibility and its long-term business priorities.
The LPG industry faces heightened uncertainty from geopolitical developments in the Middle East, underscoring the importance of maintaining reliable energy supplies.
Julianna said supply security was critical not only for households but also for Malaysia’s industrial growth, given LPG’s role in everyday consumption and business operations.
“Stronger infrastructure and supply facilities are important to ensure the country remains resilient against potential disruptions to international energy supply chains,” she said.
NGC Energy’s revenue fell 9.9% to RM778.6 million in FY2025 from RM864.4 million a year earlier, while net profit plunged 98.7% to RM100,000 from RM7.58 million.
Julianna said the company had a stronger year in 2026 compared with 2025, supported by government assistance, but cautioned that geopolitical uncertainty would make 2027 challenging.
“I’m not in a position to comment on the financials, but Alhamdulillah, this year is a strong year for us with support from the government,” she said.
“Next year will be very, very challenging, and we are working closely with partners, with the government agencies to see how we can tackle these issues together as an industry.”
Looking towards 2027, NGC Energy plans to sharpen its focus on its core LPG business, strengthen its MiraGas brand, improve customer service and dealer support, and enhance its supply-chain capabilities.
The company also aims to maintain safe and reliable LPG supplies while improving operational excellence and exploring growth opportunities arising from its shareholders’ wider business networks.
NGC Energy serves domestic, commercial and industrial customers through its MiraGas brand. It also provides gas and utilities engineering solutions, including gas systems and piping infrastructure, as well as solar photovoltaic solutions.