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Petronas Dagangan Berhad (PDB) wrapped up the financial year ended 31 December 2016 with a record profit before tax of RM1.2 billion. — Reuters picPetronas Dagangan Berhad (PDB) wrapped up the financial year ended 31 December 2016 with a record profit before tax of RM1.2 billion. — Reuters picKUALA LUMPUR, April 19 — Petronas Dagangan Berhad (PDB) wrapped up the financial year ended 31 December 2016 with a record profit before tax of RM1.21 billion, an increase of RM129.9 million as compared to the corresponding year. This was achieved through the Company’s Winning Formula which anchors on sound strategies, offering superior products and services, supported by an energised workforce.

PDB’s Managing Director and Chief Executive Officer, Mohd Ibrahimnuddin Mohd Yunus commented, “Despite slower domestic demand growth and dampened consumer sentiment in Malaysia, we have remained resilient and I am pleased to share that PDB has registered a record financial performance. This signifies that the strategies undertaken since 2015 are effective in the face of external challenges.”

The Company’s network of stations continues to be the largest in the country with more than 1,000 stations, maintaining its position as the leading petroleum retailer. PDB also expanded the availability of Petronas Primax 97 and Petronas Dynamic Diesel Euro 5 at its stations nationwide.

As part of the Company’s commitment to deliver superior customer experience, PDB commenced upgrading the dispensers at its stations for greater convenience and faster refuelling speed. The Company also introduced its new-concept Mesra Store at its station with a contemporary design resulting in a unique experience through customised offerings. Over and above this, PDB increased its service offerings by partnering Malaysian Green Technology Corporation to install ChargEV terminal at its stations in anticipation of the growing number of electric vehicles.

“We are committed to further strengthen our brand by making concerted efforts to understand and fulfil our customers’ expectations. We aim to be the most favoured retailer in Malaysia,” said Ibrahimnuddin.

PDB’s Lubricant business, Petronas Lubricants Marketing (Malaysia) Sdn Bhd (PLMMSB), recorded a 20 per cent margin improvement for the financial year as compared to the previous year. PLMMSB achieved a significant milestone when it secured a contract with HONDA for First Fill, making it the first non-Japanese lubricant supplier for the OEM. PLMMSB also continued its partnership with Perodua through a new five-year contract and launched the Petronas Syntium SE, an exclusive range of lubricants for Proton cars.

PDB’s Commercial business continued to focus on high-yield market segments and maximise value through effective sales strategies and efficient cost management. During the year under review, the division successfully secured additional contracts with international airline carriers Jeju Air and Etihad Airways further reinforcing its market leadership position.

The LPG business sustained its position as Malaysia’s No. 1 Cooking Gas, achieving an improvement of 19 per cent gross margin as compared to the preceding year. The significant increase was attributed to initiatives in pursuing value-driven sales and unlocking value through cost optimisation and improving efficiency across its distribution network. 

Ibrahimnuddin said, “Moving forward, for Retail business, we will focus on increasing volume and profitability from our existing stations, while expanding the availability of Petronas Primax 97 and Petronas Dynamic Diesel Euro 5. For our other businesses, we will continue to grow selectively, focusing on high value segments.”

“We will also leverage on digital and technology to do things differently to fulfil our customers’ expectations. Over and above this, we will continue to ensure operational excellence in all aspects of our business,” he concluded. — Bernama

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