Latest news with #PETRONASChemicals
The Star
14 hours ago
- Business
- The Star
FBM KLCI marginally higher at midday as tariff anxieties weigh on gobal markets
KUALA LUMPUR: The Malaysian benchmark stock index was little changed at midday after paring earlier gains as anxiety grew over the impact of US tariffs on global trade and economic growth. As regional markets turned lower, the FBM KLCI managed to stay positive, albeit a marginal 0.67 points at 1,540.05. The biggest lift was seen in stocks such as Press Metal up 13 sen to RM5.48, PETRONAS Chemicals gaining 17 sne to RM3.78, PETRONAS Dagangan up 18 sen to RM21.62 and Sunway rising six sen to RM4.88. IOI Corp, meanwhile, weighed on the index after falling 11 sen to RM3.76 and Nestle shed 70 sen to RM87.30 following the recent rally. Outside of the blue chips, however, sentiment was dour with the number of declining issues nearly double the the number of advancing. Trading volume was 2.25 billion shares valued at RM1.08bil. Some stand out performancer included British American Tobacco , surging 33 sen to RM4.90 following a positive quarterly result. Westports jumped seven sen to RM5.69 while Malayan Cement climbed seven sen to RM5.41. Of actives, Focus was down 0.5 sen to 0.5 sen. ACE Market debutant Oxford Innotech ended 9.5 sen higher at 38.5 sen, while Ekovest slumped 5.5 sen to 38.5 sen following the failure of its merger with Knusford. In key Asian markets, Japan's Nikkei was down 0.95% to 26,154 and South Korea's Kospi rose 0.65% to 3,230. China's composite index was 0.01% down to 3,595 and Hong Kong's Hang Seng slid 0.95% to 25,319.
The Star
09-07-2025
- Business
- The Star
FBM KLCI ends early session lower as investors await more clarity
KUALA LUMPUR: Malaysia's main stock index slipped into negative territory at midday as investors awaited a Bank Negara rate decision as well as further developments in US tariffs negotiations. The benchmark FBM KLCI was down 2.74 points to 1,527.4, reflecting the relative calm in regional markets amid the ongoing tariffs developments. On the broader markets, there were 410 advancing issues compared to decliners, indicating a slightly positive trading breadth. Trading volume was muted with 1.9 billion shares valued at RM884.83mil. Weighing on the market, consumer giant Nestle dropped RM1.12 to RM77.64. PETRONAS Chemicals fell 10 sne to RM3.29 while Hong Leong Bank lost eight sen to RM19.38. Meanwhile, ACE Market debutant PMCK - the most active counter in the early session - was trading at 22.5 sen, a slight 0.5 sen increase over its initial public offering price of 22 sen. The investor sentiment in Asian markets was mixed as confusion prevailed over the future of global trading tariffs. However, the developed markets eked out small gains on hope that there was still room to negotiate for a better rate despite the recent tariffs announcement. Japan's Nikkei rose 0.15% to 39,748 and South Korea's Kospi rose 0.68% to 3,136. China's composite index gained 0.29% to 3,507 while its blue-chip CSI300 rose 0.32% to 4,011. In Hong Kong, the Hang Seng was down 0.74% to 23,970.
The Star
21-05-2025
- Business
- The Star
PetChem dragged by O&D segment amid challenges
PETRONAS Chemicals managing director and chief executive officer Mazuin Ismail. PETALING JAYA: Petronas Chemicals Group Bhd (PetChem) sustained its operational performance with a plant utilisation rate of 94% in the first quarter of 2025 (1Q25), but its bottomline was weighed down by its olefins and derivatives (O&D) segment amid a challenging market landscape. 'To maintain our resilience and competitiveness amid the current industry downtrun, we remain focused on driving excellence. 'Our unwavering comitment to safe and efficient operations across all facilities continues, as we are currently undertaking repair and maintenance activities at several O&D and fertilisers and methanol (F&M) plants,' said PetChem managing director and chief executive officer Mazuin Ismail. He added that the group is closely monitoring the developments with regards to the US tariffs, and assessing their broader implications on overall market dynamics. During the quarter under review, the petrochemicals group recorded a RM18mil net loss, on the back of a revenue of RM7.66bil, which compares to a net profit of RM668mil and revenue of RM7.5bil in the year-ago quarter. The group said in a statement the O&D business had been affected by a utilities supply disruption in Kertih as well as reduced production in Pengerang Petrochemicals Company Sdn Bhd (PPC) due to feedstock unavailability. The segment subsequently reported a loss before interest, tax, depreciation and amortisation of RM43mil, primarily owing to lower contributions from PPC – mainly due to a lower plant utilisation rate and unrealised foreign exchange loss on revaluation of payables. Meanwhile, the group's fertilisers and methanol (F&M) segment saw an improvement in sales and earnings due to stronger product prices, which offset a slight decline in sales volume. 'Tight global supply and robust seasonal demand led to an increase in prices of approximately 13% and 5% for urea and methanol, respectively.' The segment's quarterly revenue rose slightly to RM2.5bil while earnings before interest, tax, depreciation and amortisation (ebitda) gained 22% quarter-on-quarter (q-o-q) to RM892mil, driven by improved product spreads. In the specialities segment, revenue rose 19% (q-o-q) to RM1.6bil on higher sales volumes. Ebitda rose to RM52mil on stronger contribution margins and sales volume.
The Star
20-05-2025
- Business
- The Star
PETRONAS Chemicals dragged by O&D segment amid headwinds
KUALA LUMPUR: PETRONAS Chemicals Group sustained its operational performance with a plant utilisation rate of 94% in the first quarter of 2025 (1Q25), but its financial bottomline was weighed down by its olefins and derivatives (O&D) segment amid a challenging market landscape. "To maintain our resilience and competitiveness amid the current industry downtrun, we remain focused on driving excellence. "Our unwavering comitment to safe and efficient operations across all facilities continue as we are currently undertaking repair and maintenance activities at several O&D and fertilisers and methanol (F&M) plants," said PETRONAS Chemicals managing director and CEO Mazuin Ismail. He added that the group is closely monitoring the developments with regards to the US tariffs, and assessing their broader implications on overall market dynamics. During the quarter under review, the petrochemicals group recorded a RM18mil net loss, on the back of revenue of RM7.66mil, which compares to a net profit of RM668mil and revenue of RM7.5mil in the year-ago quarter. The group said in a statement the O&D business had been affected by a utilities supply disruption in Kertih as well as reduced production in Pengerang Petrochemicals Company Sdn Bhd (PPC) due to feedstock unavailability. "These external issues, combined with the limited uplift in product prices amid industry oversupply, resulted in the O&D segment recording a 4% decrease in quarterly revenue to RM3.5bil," it said. The segment subsequently reported a loss before interest, tax, depreciation and amortisation (LBITDA) of RM43mil, primarly owing to lower contributions from PPC - mainly due to lower plant utilisation rate and unrealised foreign exchange loss n revaluation of payables. Meanwhile, the group's fertilisers and methanol (F&M) segment saw an improvement in sales and earnings due to stronger product prices, which offset a slight decline in sales volume. "Tight global supply and robust seasonal demand lead to increase in prices of approximately 13% and 5% for urea and methanol, respectively." The segment's quarterly revenue rose slightly to RM2.5bil while earnings before interest, tax, depreciation and amortisation (Ebitda) gained 22% quarter-on-quarter (q-o-q) to RM892mil, driven by improved product spreads. In the specialities segment, revenue rose 19% (q-o-q) to RM1.6bil due to higher sales volumes. Ebitda improved to RM52mil on stronger contribution margins and increased sales volume.
The Star
20-05-2025
- Business
- The Star
Profit-taking continues as uncertain mood prevails on Bursa Malaysia
KUALA LUMPUR: Bursa Malaysia was left out of a regional rally, with the main index continuing its decline as investors took profits out of blue chips. As the market halted trading for the lunch break, the FBM KLCI was down 6.52 points to 1,549.62, with heavyweights such as Maybank and PETRONAS Chemicals dragging on the index. Analyst say the market has entered a consolidation phase in anticipation of fresh leads as corporates release their first-quarter earnings results in the coming days. The number of declining issues on the market was slightly higher than advancing, with a ratio of 1.12-to-1. Volume was 1.61 billion shares transacted for a total of RM853.26mil. Some of the leading laggards outside of the FBM KLCI included F&N down 56 sen to RM26.24, British American Tobacco shedding 15 sen to RM6.45 and Can-One down 12 sen to RM2.10. Elwsewhere, sentiment in Asian markets has been more optimistic with an uptick in equities prices as US Treasuries stabilised overnight after the initial shock of Moody's downgrade of the US sovereign bonds. Hong Kong's Hang Seng was seen leading the pack with a 1.29% jump to 23,634, while the mainland composite index rose 0.38% to 3,380. Japan's Nikei gained 0.29% to 37,606. Across the causeway, Singapore's Straits Times index gained 0.2% to 3,883. Trading ideas: Maybank, KAB, Ibraco, PeterLabs, MCE, Euro, MFM, Johor Plantations, Taliworks, Keyfield, George Kent
