PETRONAS DAGANGAN BERHAD
INTEGRATED REPORT 2025
Chairman’s Statement
Datuk Anuar Ahmad
Chairman
MD/CEO’s Statement
Azrul Osman Rani
Managing Director/Chief
Executive Officer
CFO’s Review
Mazlie Minhat
Chief Financial Officer
Our Value Creating Business Model
for more
details
Capital Input
Financial
Manufactured
Intellectual
Human
Social & Relationship
Natural
Our Value Creating Activities
MATERIAL MATTERS
Our Risks
OUTPUTS
OUTCOMES
TRADE-OFFS
Capital Input
Financial
Operational cash flow and shareholder equity fund disciplined investment and longterm resilience
Manufactured
Our nationwide PETRONAS stations, Kedai Mesra, terminals, LPG facilities and logistics assets anchor our integrated platform
Intellectual
Brand equity, digital platforms, data insights and partnerships strengthen differentiation and customer loyalty
Human
Skilled employees and dealers drive operational excellence and growth across segments
Social & Relationship
Trusted relationships with stakeholders sustain ecosystem stability and long-term collaboration
Natural
Energy and natural resources enable operations, while responsible management reduces environmental impact
Material Matters
Economic Growth and Performance
Customer-centricity
Ethics and Corporate Governance
Data Privacy and Security
Sustainable and Ethical Supply
Climate Change and GHG Emissions
Environmental Management
Safety, Health and Well-being
Human Capital
Capability Building
Community Investment
Our Risks
Market
Operations
Legal
and Regulatory
Project
Execution
Strategy
/ Economic
Sustainability
HSE
OUTPUTS
Financial
- Revenue: RM38,269.3 million
- Profit After Tax: RM1,136.5 million
- Dividend per share: 112.0 sen
- Dividend payout ratio: 100%
Manufactured
- >1,000 PETRONAS stations
- >800 Kedai Mesra
- 125 AutoExpert outlets
- 18 MotoExpert outlets
- 36 Terminals
- 36 ROVR Trucks
- 5 LNG Trucks
- >12 million LPG cylinders
Intellectual
- MoU/UJV with strategic partners aimed at providing greater convenience
- Certified as Malaysia’s first ISCC CORSIA-recognised SAF trader
- Committed to reducing environmental impact through defined initiatives
- >120 Mesra-labelled products in food and non-food categories
Human
- Zero fatalities recorded
- RM403.7 million in employees wages and benefits
- Maintained a balanced gender representation on our Board and Leadership Team (LT)
- 39% female representation in LT
- 37.5% of Board members are female
Social & Relationship
- RM374.7 million taxes paid to the Government
- RM43 billion paid to contractors/business partners/suppliers
- Invested over RM2.4 million in social impact programmes
- Provided structured internship to 130 students from 10 universities
Natural
- Maintained strong score of 4.0 for FTSE4Good Index Series
- 4,695.6 tCO2e GHG emissions avoided from the use of solar energy
- Collected 749 tonnes from the Used Cooking Oil initiative
- 89 EV charging points
- 259.5 kL of rainwater harvested for non-potable uses
OUTCOMES
Financial
- Deliver sustained profitability and resilient cash generation
- Surpass 50% dividend payout policy to shareholders
- Maintain dividend discipline and shareholder confidence
- Strengthen earnings quality and financial stability
Manufactured
- Expand accessible and integrated retail footprint nationwide
- Enhance service convenience across fuel and non-fuel offerings
- Improve supply reliability and distribution efficiency
Intellectual
- Deepen digital engagement and customer stickiness
- Strengthen innovation capability and partnership-led growth
- Advance readiness for lower-carbon fuel solutions
Human
- Sustain a strong safety culture across operations
- Build a more diverse and inclusive leadership bench
- Develop future talent pipeline for long-term capability
Social & Relationship
- Contribute meaningfully to national economic activity
- Strengthen supplier ecosystems and local value chains
- Enhance community wellbeing
Natural
- Improve EESG standing and responsible business credentials
- Reduce operational emissions and energy intensity
- Promote circularity and resource efficiency
- Support lower-carbon mobility adoption
TRADE-OFFS
Financial
Effective management of our Financial Capital enables reinvestment into Manufactured, Intellectual, Human and Natural Capitals to sustain growth, innovation and resilience, while balancing dividend commitments with long-term value creation.
Manufactured
Expanding and upgrading our network of PETRONAS stations, Kedai Mesra outlets, logistics assets and LPG infrastructure strengthens Financial and Social Capitals through wider access and economic participation, while requiring continued Financial and Natural Capital to maintain efficiency and reliability.
Intellectual
Investments in digital platforms, fuel innovation and partnerships enhance Financial Capital and Human Capital by boosting productivity and customer engagement, while initially placing demand on Financial Capital until scale benefits are realised.
Human
Investing in safety, leadership diversity and talent development strengthens Intellectual and Social Capitals and supports operational excellence across Manufactured Capital while requiring sustained Financial Capital allocation.
Social & Relationship
Community investment, supplier development and national contributions reinforce Human, Manufactured and Financial Capitals through ecosystem strength and brand trust, while drawing on Financial resources.
Natural
Decarbonisation initiatives, solarisation and resource efficiency efforts protect Financial and Social Capitals over the long term by reducing risk and enhancing EESG standing, while requiring upfront Financial Capital and disciplined operational management.
Retail-Fuel
The Retail-Fuel business operated in a dynamic environment shaped by fuel subsidy rationalisation, evolving mobility trends and rising customer expectations.
READ MORE
Commercial
In 2025, the Commercial Business navigated a volatile operating environment shaped by global economic uncertainty, geopolitical developments and rising cost pressures across the oil and gas value chain.
READ MORE
LPG
The year under review unfolded against a competitive and cost-intensive operating landscape, shaped by a mature domestic LPG market and rising logistics and asset-related costs.
READ MORE
Lubricants
The lubricants market continued to evolve in 2025, shaped by gradual volume growth, intensifying competition and a clear shift towards higher-performance and synthetic products.
READ MORE
Convenience: MESRA
In 2025, MESRA operated in a demanding environment shaped by tighter regulation and intensifying competition.
READ MORE
Convenience: Setel
In 2025, Setel continued to strengthen its role as a trusted everyday companion for Malaysians, supporting mobility and payments across a growing and increasingly engaged user community.
READ MORE
Enablers: Supply and Distribution
The Supply and Distribution Division (SDD) operated in a demanding environment characterised by market volatility, high demand growth and operational challenges from external factors.
READ MORE
Enablers: Digital
The Digital Division played a critical role as we expanded the boundaries of digital transformation in support of technology modernisation and resilience, as PDB enters a new phase of intelligent, sustainable and customer-centric growth.
READ MORE
Retail-Fuel
WHO WE ARE AND WHAT WE DO
The Retail-Fuel Business markets and distributes high-quality fuel products through a network of over 1,000 PETRONAS stations across Malaysia. The portfolio includes premium fuel solutions developed in partnership with the Mercedes-AMG PETRONAS Formula One™ team:
PETRONAS Primax 95 with Pro-Drive
PETRONAS Primax 97 with Pro-Race
PETRONAS Dynamic Diesel Euro 5 with Pro-Drive (B7, B10, B20)
All PETRONAS stations are operated by Rakan Niaga, who are appointed through a stringent selection process and supported with continuous training to uphold service excellence. The Retail-Fuel Business operates under two dealership models:
Company-Owned, Dealer-Operated
Dealer-Owned, Dealer-Operated
How We Create Value
Quality
Deliver consistently high-performance fuel solutions
that meet world-class standards, reinforcing
reliability, efficiency and customer trust.
Innovate
Facilitate smooth, convenient customer journeys
through integrated digital solutions that simplify
interactions and enhance accessibility.
Customer Experience
Design and operate stations that combine a strong
visual identity with a smooth, reliable retail
experience at every customer touchpoint.
Capability
Build future-ready capabilities across Krew
PETRONAS to deliver excellence and drive sustainable
growth with confidence.
Key Focus Areas
Operational Excellence
Operational Excellence Pursue ongoing improvements
that raise station safety and compliance standards.
Empowering Beliefs and Behaviours
Build a high-performance culture that enables our
people and Rakan Niaga to perform at their best.
Volume Focus and Customer Experience
Grow volumes by deepening customer engagement through
differentiated offers and superior station experience.
Growth and Resiliency
Expand our network and capabilities to deliver
sustainable growth and long-term resilience.
Commercial
WHO WE ARE AND WHAT WE DO
The Commercial Business manages the sales and marketing of bulk petroleum products to business customers across Agriculture, Mining, Manufacturing, Construction, Services, Aviation and Bunkering sectors. The portfolio includes Diesel, Jet A-1, Fuel Oil, Bitumen, Petroleum Coke, Sulphur, MOGAS, Kerosene, Methanol, LNG and ROVR services. Supported by an extensive nationwide distribution network, the business delivers secure, reliable and efficient supply to customers across Malaysia.
How We Create Value
Energy Reliability and Supply Assurance
Deliver reliable fuel supply through disciplined
commercial planning, robust logistics and responsive
coordination across the value chain.
Customer Value and Partnerships
Support customers with tailored fuel solutions,
flexible commercial structures and long-term
partnerships across diverse industries.
Sustainability and Transition Enablement
Advance lower-carbon solutions, including SAF and
biodiesel, to support customers’ efforts to manage
Scope 1 and Scope 3 emissions.
Key Focus Areas
Expand High-Value Segments
Strengthen presence in aviation and industrial
segments to optimise returns and income quality.
Advance Sustainable Fuel Adoption
Promote SAF and biodiesel solutions to support
customers’ decarbonisation pathways.
Enhance Operational Efficiency
Improve cost discipline, pricing agility and delivery
reliability through datadriven decision-making.
LPG
WHO WE ARE AND WHAT WE DO
Our LPG business operates as a leading provider in the domestic market, serving the Household, Commercial and Industrial segments with a full range of LPG products and services. We operate a nationwide supply and distribution network, anchored by six terminals and bottling facilities, and supported by more than 290 channel partners, including premier dealers, dealers and bulk dealers. This network enables the reliable delivery of quality LPG products to consumers nationwide.
Household Segment
Supply subsidised LPG for domestic use in 12kg and
14kg cylinders.
Commercial Segment
Offer non-subsidised LPG in 14kg and 50kg cylinders to
support a wide range of industries.
Industrial Segment
Provide bulk LPG solutions, with storage tanks ranging
from 200kg to 32,000kg, customised to meet specific
operational requirements.
How We Create Value
Entrepreneurial
As our market share grows, our channel partners gain
more business opportunities. This helps them expand
their operations and improve their services.
Accessibility
Maintain a steady and reliable supply of LPG to ensure
continued access to essential cooking fuel for
households and communities.
Availability
Manage supply and distribution to ensure consistent
product availability, including during periods of
uncertainty or market disruption.
Safety
Uphold strict safety standards across our LPG products
and operations to protect customers and maintain trust
in our brand.
Key Focus Areas
Strengthen our leadership position in the Household
segment
Sustain reliable supply, broaden access points and
reinforce service consistency to meet daily household
needs.
Expand our market presence in the Commercial
segment
Pursue targeted growth across priority industries
through competitive offerings, responsive distribution
and closer collaboration with channel partners.
Enhance operational efficiency across the value
chain
Improve asset reliability and logistics efficiency to
support scalable growth while safeguarding service
levels and margins.
Lubricants
WHO WE ARE AND WHAT WE DO
The Lubricants Business oversees the end-to-end management of sales, marketing, distribution and technical services for PETRONAS lubricant products within Malaysia. Our comprehensive portfolio spans Passenger Car Motor Oils, Motorcycle Oils, Commercial Vehicle Lubricants, as well as Industrial and Marine solutions, serving diverse consumer, commercial and industrial segments. Anchored by cutting edge technology, we continuously drive innovation to deliver superior performance and value to our customers across all markets.
How We Create Value
Performance and Reliability
Deliver high-quality lubricants and technical
expertise that enhance equipment efficiency, vehicle
performance and operational reliability for
industrial, OEM and retail customers.
Customer Partnerships and Market Reach
Strengthen relationships through OEM collaborations,
extensive distribution networks and loyalty
programmes, ensuring accessibility and long-term
customer trust across diverse market segments.
Innovation and Sustainability
Leverage advanced technology and ecofriendly solutions
to meet evolving market needs, support sustainability
goals and create differentiated value in a competitive
landscape.
Key Focus Areas
Strengthen our leadership position in the Household
segment
Focus on higher-value segments through tailored
propositions, sharper technical solutions and targeted
customer engagement.
Expand and deepen partnerships in the OEM
segment
Pursue new account penetration while maintaining cost
competitiveness and delivering customised technical
and supply solutions to meet approvals, diversify the
account portfolio and strengthen long-term
relationships.
Accelerate growth and execution in the Highstreet
segment
Enhance outlet performance and market reach through
stronger collaboration with MESRA and Setel, targeted
trade and loyalty programmes, improved distributor
performance, differentiated branding and expanded
concepts such as PETRONAS MotoExpert, while unlocking
nonlubricant revenue opportunities
Convenience: MESRA
WHO WE ARE AND WHAT WE DO
MESRA operates as PETRONAS’ non-fuel retail business, managing convenience retail, F&B, complementary services and lifestyle offerings across its forecourt network. The portfolio includes Kedai Mesra convenience stores, Complementary Business partnerships, F&B offerings and PETRONAS Shop lifestyle products.
Kedai Mesra (Convenience Retail)
Comprise convenience stores operated across the
PETRONAS retail network, offering everyday retail
items to serve customer needs at the forecourt.
Complementary Business
Consists of partnershipbased non-fuel services
offered at PETRONAS stations.
Food and Beverage
Includes Café Mesra and other F&B licensed or
franchise-based concepts introduced across the network
PETRONAS Shop (Lifestyle Retail)
Covers lifestyle retail offerings, including corporate
merchandise and curated products, managed under MESRA,
with integrated e-commerce and a marketplace hosting
thirdparty tenants.
How We Create Value
Product and Service Quality
We deliver products across retail segments, including
beverages, food at Kedai Mesra and Café Mesra,
curated merchandise and brands through PETRONAS Shop,
focusing on quality, consistency and reliable customer
experience.
Everyday Retail Convenience
We enhance convenience by providing integrated,
one-stop solutions across our retail network. Our
expanded store footprint, 24- hour coffee vending
machines and licensing programmes are redefining
convenience, alongside new retail formats and online
platforms.
Value Through Relevance
We strengthen value by maintaining relevant
products and introducing new food, beverage and
merchandise aligned with evolving customer
preferences.
Key Focus Areas
Grow and Reposition Convenience Store Network
Optimise and expand the network through
strategic site conversions and leverage new station
openings in high-demand locations to improve
accessibility, strengthen dealer sales and maintain
relevance through refreshed product ranges.
Broaden Complementary Business Service Offerings
Strengthen complementary offerings by exploring
additional service verticals and partnerships with
trusted providers, expanding services such as F&B, car
wash, ATMs and reload facilities to support the retail
network and enhance customer convenience.
Scale F&B Concepts
Expand the F&B portfolio through Coffee Vending
Machines, licensing programmes and new concepts,
including the introduction of Steers Burgers and
Debonairs Pizza to provide greater variety.
Advance PETRONAS Shop Capabilities
Diversify and optimise PETRONAS Shop offerings
by strengthening sourcing strategies, upgrading
platforms and leveraging Group synergies to improve
operational efficiency.
Convenience: Setel
WHO WE ARE AND WHAT WE DO
Setel is one of Malaysia’s leading mobility superapp, delivering integrated payments and on-the-go services designed around the everyday needs of motorists. Serving millions of users nationwide, the platform enables fuel payments, parking, retail payments, road tax and insurance solutions and 24/7 auto assistance, fully integrated with the Mesra Rewards loyalty programme to give users a single app ecosystem that brings together rewards and everyday convenience.
Built on strong digital capabilities, Setel extends PETRONAS’ customer reach beyond the forecourt and into broader retail and mobility touchpoints. This seamless integration supports deeper engagement, sustained cross-selling and longterm loyalty, reinforcing Setel’s role as a trusted companion throughout the customer journey.
How We Create Value
Mobility Convenience and Integration
Deliver seamless journeys by combining fuelling,
parking, non-fuel payments and services into one
integrated mobility ecosystem.
BUDI95 Accessibility and Assurance
Deliver secure, app-enabled access to subsidised
RON95 fuel for eligible Malaysians, supporting
national cost-of-living measures through a fast and
secure One-tap fuelling experience that reduces queue
time, improves subsidy targeting and enhances everyday
customer convenience at the pump.
Driving Cashless Adoption
Broaden access to digital payments, removing
structural adoption barriers, accelerating Setel
Wallet usage as well as equipping dealers and
Krew PETRONAS to onboard more Malaysians
confidently into cashless mobility.
Key Focus Areas
Establish a Trusted and Compliant Digital Fuelling
Framework
Enable seamless, compliant access to BUDI95 through
secure app-based payments with onetime MyKad
verification and streamlined in-app flows that
simplify fuel transactions at scale while meeting
regulatory requirements and reinforcing daily user
trust and convenience.
Scale Inclusive Digital Payment Access
Integrate fuel and non-fuel transactions into a single
intuitive platform by encouraging spend via DuitNow to
reduce barriers and strenghten Setel’s role as an
accessible everyday payment ecosystem.
Drive Community-Led Growth Through Strategic
Partnerships
Accelerate demand-led collaborations across fuel,
fintech and mobility, including Servis Ihsan MADANI
bookings at PETRONAS AutoExpert workshops, supported
by onground dealer engagement, partnership activations
and brand initiatives that deepen online and offline
adoption.
Advance PETRONAS Shop Capabilities
Diversify and optimise PETRONAS Shop offerings
by strengthening sourcing strategies, upgrading
platforms and leveraging Group synergies to improve
operational efficiency.
Enablers: Supply and Distribution
WHO WE ARE AND WHAT WE DO
SDD manages the end-to-end product supply network from refineries to customers across primary and secondary distribution channels. Core responsibilities include product sourcing, terminal operations, asset management and product delivery. The division operates a nationwide network of 36 terminals and supports all business segments by ensuring safe, reliable and costefficient product delivery.
How We Create Value
Operational Excellence
Maintain safe and reliable operations that
exceed customer expectations.
Cost Optimisation
Adopt a structured cost management that
prioritises efficiency to maximise profitability.
Workforce Empowerment
Nurture high levels of expertise and foster a
supportive work culture for both employees and
contractors.
Digital Solutions
Harness digital solutions to enhance operational
efficiency and elevate customer experience.
Key Focus Areas
Strengthen Supply Resilience
Enhance contingency readiness and delivery
flexibility to manage demand volatility and
disruptions.
Optimised Cost-to-Serve
Improve fleet utilisation, execute in-house
maintenance activities and strengthen monitoring of
expenditures to maintain cost competitiveness.
Enhance Infrastructure Capability
Leverage targeted investments and standardised
asset integrity assessments to improve efficiency and
asset reliability across terminals.
Enablers: Digital
WHO WE ARE AND WHAT WE DO
The Digital Division drives enterprise-wide digital transformation across PDB by delivering secure, scalable and customer-centric digital platforms. We support all business segments by improving efficiency, resilience and customer experience through strong governance, cyber security, data platforms, automation, AI adoption and technology modernisation.
These capabilities translate into stronger customer engagement, operational effectiveness and system reliability, while supporting sustainability priorities. We balance innovation with disciplined execution, ensuring digital solutions scale in line with business needs and regulatory requirements.
Robust cyber security controls protect sensitive data, payment systems and critical infrastructure, providing a secure digital foundation for sustainable growth and longterm value creation.
How We Create Value
Operational and Customer Excellence
Embed digital innovation into our strategy to
shape the future of the industry and unlock new
sources of value for shareholders.
Technology Modernisation and Resilience
Invest in automation, advanced data platforms
and AI-powered insights to capture emerging
opportunities in a rapidly evolving market.
Trust, Security and Compliance
Safeguard critical systems and customer data
through robust cyber security controls and strong
regulatory compliance.
Key Focus Areas
Strengthen Digital Resilience
Enhance cyber security, data governance and
system stability to manage growing digital regulatory
risks.
Improve Operational Efficiency
Automate processes, standardise controls and
optimise platforms to reduce manual effort and cost.
Advance Data, AI and Innovation
Build enterprise data foundations and scale AI
adoption to support decision-making and value
creation.
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