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PETRONAS DAGANGAN BERHAD

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End-of-day quote BURSA MALAYSIA  -  2022-06-30
20.94 MYR   -0.85%
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PETRONAS Dagangan Berhad : Sign Sponsorship Deal with Badminton Association of Malaysia

03/06/2022 | 02:59am EDT

KUALA LUMPUR, 4 March 2022 - PETRONAS and its subsidiary, PETRONAS Dagangan Berhad (PDB) today signed a three-year sponsorship agreement with the Badminton Association of Malaysia (BAM), forming a partnership that is expected to further boost the performance of Malaysian badminton.

PETRONAS' support will help enhance the training and preparation of the national players, especially in the run-up to the 2024 Paris Olympics, as well as contribute to BAM's overall development programmes.

As part of the sponsorship deal, PETRONAS' logo will be prominently positioned on the national team jerseys, beginning at the Yonex All England Open Badminton Championships 2022 that is taking place from 16 to 20 March.

PETRONAS will also become the title sponsor of the Malaysia Open, to be held from 28 June to 3 July. The event will officially be named the PETRONAS Malaysia Open 2022. The Akademi Badminton Malaysia (ABM) is also now known as PETRONAS ABM.

PDB enters into this agreement as BAM's official fuel partner. Its sponsorship includes fuel and lubricants supply along with other Mesra products such as mineral water and hand sanitisers.

The sponsorship agreement was signed by BAM's President, Tan Sri Dato' Sri (Dr.) Mohamad Norza Zakaria while PETRONAS was represented by PDB's Managing Director and Chief Executive Officer, Azrul Osman Rani.

Azrul said, "PETRONAS and PDB are proud to be associated with BAM and join them in their journey to elevate Malaysian badminton at all levels. As a company committed to energising Malaysia, we share the Association's resolve towards a sustained and continuous development of the sport in line with their vision to consistently triumph at the world stage.

"Badminton resonates well among Malaysians and is one of the most popular and accessible sports in the country and globally. The partnership is an excellent opportunity for us to promote the PETRONAS brand at various national and international tournaments."

BAM President Tan Sri Norza said, "This partnership with PETRONAS is a game-changer for BAM. Our development programmes and the operation of the national badminton centre of excellence, ABM, are extremely costly and we spend much time and resources canvassing for funds every year to cover our expenses. Now, thanks to this substantial contribution from PETRONAS, we can shift our focus to our main objective of establishing Malaysia as one of the world's badminton powerhouses.

"The timing of this sponsorship is perfect as we are currently preparing for a series of major competitions including the SEA Games, Asian Games, Commonwealth Games, Thomas and Uber Cup 2022 and the Paris Olympics."

Tan Sri Norza added that the sponsorship would elevate BAM's existing programmes and that players would benefit the most from this partnership.

"We will be able to send more of them including the youth players abroad for more international tournaments where the exposure and experience will greatly speed up their development."

Disclaimer

Petronas Dagangan Bhd published this content on 05 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 March 2022 07:58:04 UTC.


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Net income 2022 622 M 141 M 141 M
Net cash 2022 2 549 M 578 M 578 M
P/E ratio 2022 33,5x
Yield 2022 2,86%
Capitalization 20 803 M 4 719 M 4 719 M
EV / Sales 2022 0,64x
EV / Sales 2023 0,63x
Nbr of Employees 1 416
Free-Float 13,3%
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