Retail in Asia

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Petronas Dagangan eyes expansion in Indonesia, Myanmar

Petronas Dagangan Bhd, the retail arm of Malaysias state oil firm Petronas aims to expand into Indonesia and Myanmar as it widens its presence in Southeast Asia, its managing director told Reuters in an interview.

The largest liquefied petroleum gas (LPG) provider in Malaysia announced this month it will buy six downstream companies belonging to Petronas in the Philippines, Vietnam, Thailand and Malaysia in a deal worth MYR197.3 million (USD62.57m).

"We need to build new engines for growth," Amir Hamzah Azizan told Reuters in an interview at his 76th-floor office in Kuala Lumpurs Petronas Twin Towers, adding that the Malaysian market could become saturated over the next four years.