Latest news with #PETRONASChemicalsGroupBerhad
Fibre2Fashion
05-06-2025
- Business
- Fibre2Fashion
Sweden's Perstorp launches Synthetic-EF portfolio
Perstorp, a leading global innovator in specialty chemicals and a wholly owned subsidiary of PETRONAS Chemicals Group Berhad (PCG), announces the launch of its new portfolio of saturated synthetic polyol esters. The range includes three high-performing synthetic esters - Perstorp Synthetic-EF 5, Synthetic-EF 15, and Synthetic-EF 22 - developed to meet the evolving technical, environmental, and performance demands of the lubricant industry. This launch marks the next step towards becoming a recognized leader and supplier of specialty chemicals to the growing synthetic lubricants market. Perstorp, a PETRONAS Chemicals Group subsidiary, has launched its Synthetic-EF portfolioâ€'three biodegradable, high-performance saturated synthetic polyol esters designed for demanding lubricant applications. With REACH registration, a LuSC roadmap, and global support, the portfolio meets technical, environmental, and regulatory needs for sustainable growth. With a strong emphasis on verified environmental performance and supply chain security, Perstorp's Synthetic-EF portfolio empowers lubricant manufacturers to formulate high-performing, application-specific lubricants for the most demanding conditions across a wide temperature range. Built on saturated synthetic polyol esters, the portfolio offers products registered with Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) as biodegradable, along with a roadmap toward Lubricant Substance Classification List (LuSC) listing in compliance with EU Ecolabel standards. Combined with a fully integrated global supply chain and responsive local support, these solutions enable tailored innovations for a wide range of applications - meeting precise technical, regulatory, and environmental requirements. Perstorp Synthetic-EF portfolio overview: Perstorp Synthetic-EF 5 – For demanding low-temperature applications. A saturated synthetic polyol ester, registered with REACH as biodegradable, with an ultra-low pour point and high flashpoint. The product will be tested for biodegradability according to OECD 301. Perstorp Synthetic-EF 15 – For applications that require performance and safety for effective operations. A biodegradable (OECD 301 & registered with REACH) saturated synthetic polyol ester with a high flash point and excellent thermal and oxidation stability. Perstorp Synthetic-EF 22 – For demanding applications across a wide temperature range. A saturated synthetic polyol ester, registered with REACH as biodegradable, with a high viscosity index and low acid number. The product will be tested for biodegradability according to OECD Valentina Serra-Holm, Head of Engineered Fluids Solutions at Perstorp, comments: 'With our long-standing expertise in ester chemistry and vertically integrated production, we're able to offer exceptional consistency and control throughout the value chain. Combined with our global network of application labs and technical experts, we support lubricant manufacturers with tailored solutions and hands-on development. This makes us more than a supplier - we're a true partner in enabling sustainable growth for lubricant manufacturers.' Beyond technical performance, Perstorp's synthetic esters are developed to deliver verified environmental performance - demonstrated through OECD 301, REACH registrations as biodegradable, and a roadmap toward LuSC listing in compliance with EU Ecolabel criteria. With competitive Product Carbon Footprints (PCFs) and ongoing work toward ISCC PLUS certification, we provide lubricant manufacturers with transparent environmental credentials that support compliance with evolving regulatory and market expectations - without compromising on performance. The portfolio is enabled by the recently acquired site in Amsterdam, the Netherlands, and is backed by Perstorp's fully integrated production model - from key intermediates to synthetic esters - ensuring both supply security and consistent product quality. A Platinum Ecovadis rating underscores Perstorp's commitment to responsible operations. With application labs in Sweden, Malaysia, and China, along with a global logistics network and localized technical and sales support, Perstorp enables lubricant manufacturers to scale reliably and innovate with confidence. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
BusinessToday
20-05-2025
- Business
- BusinessToday
PCG Disappoints With Q1 Loss Of RM18 Million, Cites Challenging Market
PETRONAS Chemicals Group Berhad announced its financial results for the first quarter (1Q 2025) in the financial year ending 31 December 2025, reporting a loss of RM18 million against a profit of RM668 million in the previous year's first quarter. The Group sustained its operational performance with plant utilisation rate of 94% in 1Q 2025, comparable to 4Q 2024. Revenue grew 3% quarter-on-quarter to RM7.7 billion driven by higher average prices of urea, methanol, and polyethylene as well as improved sales performance in the specialties segment. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose 26% to RM892 million, supported by better spreads for urea, methanol, methyl tert-butyl ether (MTBE) and olefin derivatives, coupled with reduced operational costs. However, Profit After Tax (PAT) declined to RM18 million from RM668 million in the previous quarter, largely due to unfavourable foreign exchange movement. During the quarter, PCG said the Olefins & Derivatives (O&D) segment overcame utilities supply disruption that impacted several plants in Kertih, as well as reduced production at the 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 RM3.5 billion. The segment reported Loss Before Interest, Tax, Depreciation and Amortisation (LBITDA) of RM43 million, primarily attributed to lower contributions from PPC, mainly due to lower plant utilisation rate and unrealised foreign exchange loss on revaluation of payables. The Group's Fertilisers & Methanol (F&M) segment recorded an overall improvement in sales and earnings supported by stronger average product prices despite a slight decline in sales volume. Tight global supply and robust seasonal demand led to increase in prices of approximately 13% and 5% for urea and methanol, respectively. The F&M segment recorded a higher quarterly revenue of RM2.5 billion while EBITDA rose 22% quarter-on-quarter to RM892 million, driven by improved product spreads. Commenting on the 1Q 2025 performance, Mazuin Ismail, Managing Director/Chief Executive Officer of PCG, said 'Our resilience in navigating the challenging market landscape underscores the strength of our diversified portfolio. The improvement in EBITDA reflects our ongoing efforts on operational excellence with commendable plant utilisation rate achieved by our commodities business, despite setbacks in January 2025 that temporarily impacted operations at several plants in Kertih.' On the implications of US tariffs to PCG, Mazuin said, 'We are closely monitoring these developments and assessing broader implications on the overall market dynamics.' Related
Barnama
20-05-2025
- Business
- Barnama
PCG Demonstrates Resilience On Strength Of Diversified Portfolio
KUALA LUMPUR, May 20 (Bernama) -- PETRONAS Chemicals Group Berhad (PCG or the Group), today announced its financial results for the first quarter (1Q 2025) in the financial year ending 31 December 2025, against the backdrop of an increasingly challenging chemicals market. The Group sustained its operational performance with plant utilisation rate of 94% in 1Q 2025, comparable against 4Q 2024. Revenue grew 3% quarter-on-quarter to RM7.7 billion driven by higher average prices of urea, methanol, and polyethylene as well as improved sales performance in the specialties segment. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose 26% to RM892 million, supported by better spreads for urea, methanol, methyl tert-butyl ether (MTBE) and olefin derivatives, coupled with reduced operational costs. However, Profit After Tax (PAT) declined to RM18 million from RM539 million in the previous quarter, largely due to unfavourable foreign exchange movement.
Barnama
14-05-2025
- Business
- Barnama
Yes, Plastic Recycling Works — Here's The Full Picture
PETALING JAYA, Selangor, May 14 (Bernama) -- We refer to the recent article titled "Recycling Plastic Does Not Work" (The Star, 11 May 2025) by Mangai Balasegaram. While we appreciate the growing concern around plastic pollution, we are compelled to respond to several inaccuracies and generalisations that risk misleading the public about both the plastic industry and the role of recycling in building a sustainable future. The title itself — 'Recycling plastic does not work' — is a sweeping and inaccurate statement that disregards progress, innovation, and the evolving science and infrastructure of plastic recycling. Malaysia has some of the largest and most advanced recycling operations in Southeast Asia, processing both locally sourced and imported industrial-grade plastic scrap into high-quality raw materials and supplying to global brands and companies across multiple sectors. Commonly used plastics such as PET (Type 1), HDPE (Type 2), and PP (Type 5) are being successfully recycled in the country through mechanical recycling. PETRONAS Chemicals Group Berhad's advanced chemical recycling plant, expected to be operational by first half of 2026, will enable previously hard-to-recycle plastics to be transformed into new materials, giving them a second life through chemical recycling, further growing the local plastic recycling sector.
Barnama
23-04-2025
- Business
- Barnama
PCG Navigates Challenges and Focuses on Delivering Growth
KUALA LUMPUR, April 23 (Bernama) -- PETRONAS Chemicals Group Berhad (PCG) on 22 April 2025 has held its 27th annual general meeting (AGM) to present the Company's performance to its shareholders for the financial year ended 31 December 2024. The AGM was chaired by PCG Chairman, Datuk Sazali Hamzah, with all the Board members, PCG Managing Director/Chief Executive Officer, Mazuin Ismail and Chief Financial Officer, Mohd Azli Ishak, in attendance. In addition, Mazuin shared the Company's performance, growth plans and outlook for 2025. Improved Operational and Commercial Performance In 2024, PCG demonstrated strong operational and commercial resilience despite significant challenges, including geopolitical disruptions, rising energy costs, and continued market oversupply. These factors led to inflationary pressure and slowed economic growth, further impacting the already competitive chemicals industry.
