by ASILA JALIL / pic by TMR FILE
UZMA Bhd’s unit, Uzma Engineering Sdn Bhd, was granted two licences from the Energy Commission which allows them to import liquified natural gas (LNG) into a regasification terminal and to transport or distribute natural gas within Malaysia.
The licences allows Uzma to bring LNG into a regasification terminal into or within Malaysia by any means other than by transhipment, and to distribute or transport natural gas via regasification terminal or pipeline consumer premises within Malaysia, pursuant to the implementation of a third-party access (TPA) system.
“The licences were issued by virtue of the Gas Supply Act 1993 [Act 501] (as amended by the Gas Supply (Amendment) Act 2016) and will take effect commencing Feb 17, 2021, and shall be valid for a period of 10 years,” Uzma said yesterday.
The licences are expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2021, and onwards until they expire.
The group said the new business segment is a part of Uzma’s five-year plan to broaden its earnings base and to build a healthy revenue with a mix of ongoing oil and gas (O&G) upstream projects, as well as a segment made up of stable and recurring revenue.
“Uzma group is excited to embark on the new opportunity within the LNG space and to play a role in ensuring the country’s energy needs are met.
“These licences will enable Uzma group to continue to support the energy sector and diversify our business further downstream,” said Uzma CEO Datuk Kamarul Redzuan Muhamed.
Malaysia implemented TPA when the Gas Supply (Amendment) Act 2016 came into force on Jan 16, 2017.
The TPA allows third parties to access the gas infrastructure such as the regasification terminals, and the transmission and distribution pipelines.
Petroliam Nasional Bhd and Gas Malaysia Bhd are the existing natural gas suppliers in the country.
Uzma is an O&G service and equipment company with operational offices in Thailand, Indonesia and the Philippines.