KUALA LUMPUR: Petronas Chemicals Group Bhd reported a lower pre-tax profit of RM3.55 billion for the financial year ended Dec 31, 2014 against the RM4.55 billion registered in 2013.
Revenue fell to RM14.59 billion during the period under review from RM15.2 billion registered previously due to lower spreads, as well as impaired loss on assets relating to the group’s butane-methyl tertiary butyl ether (MTBE) chain, and olefins and derivatives, the company said in a filing to Bursa Malaysia today.
Petronas Chemicals said in terms of fertilisers and methanol, plant reliability was negated by methane gas supply limitations at the group’s methanol facilities due to technical issues with upstream supplier equipment and facilities.
“The fertiliser market was weaker as a result of softer demand and higher supply availability due to a more competitive export tax structure in China,” it said.
Petronas Chemicals said in terms of prospects, the results of the group’s operations are expected to be primarily influenced by fluctuations in international petrochemical products prices, global economic conditions and utilisation rate of its production facilities. –BERNAMA
L. C. ChongPCHEM analysis - https://lcchong.wordpress.com/2015/02/23/pchem-fundamental-analysis-23-feb-2015/
8wpwtmt8I think PCHEM has bottom up at RM5.05 (IPO offer price for retailers). See how it reacts tomorrow (19 March) after Federal Reserve meeting on interest rate hike.