KLSE: PCHEM (5183)       PETRONAS CHEMICALS GROUP BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
8.75   +0.12 (1.39%)  8.51 - 8.88  5,156,500
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Market Cap: 70,000 Million
NOSH: 8,000 Million
Avg Volume (4 weeks):5,707,764
4 Weeks Range:8.30 - 9.14
4 Weeks Price Volatility (%):
52 Weeks Range:7.93 - 10.20
52 Weeks Price Volatility (%):
Average Price Target: 9.83
Price Target Upside/Downside: +1.08

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2018 [#3]  |  16-Nov-2018
Next QR | Est. Ann. Date: 31-Dec-2018  |  20-Feb-2019
T4Q P/E | EY: 14.90  |  6.71%
T4Q DY | Payout %: 3.31%  |  49.37%
T4Q NAPS | P/NAPS: 3.6509  |  2.40
T4Q NP Margin | ROE: 24.97%  |  16.05%


Date Subject
26-May-2019 售价销量齐跌·国油化学首季少赚25%
24-May-2019 Petronas Chemicals Group - Dampened by lower plant utilisation and prices
23-May-2019 Malaysia’s 1Q19 GDP Highlights
18-May-2019 多元化至独特化学产品·国油化学7.6亿购荷兰达文西
17-May-2019 Petronas Chemicals Group Berhad - Making Its Way Into Specialty Chemicals
17-May-2019 PublicInvest Research Headlines - 17 May 2019
17-May-2019 Petronas Chemicals Group - Expanding into differentiated specialty products
13-May-2019 AirAsia, Petronas Chemicals added to FTSE Value-Stocks Asean Index
08-May-2019 热门股:国油石化上挑RM9.30
30-Apr-2019 今年料逊色‧国油化学力保竞争优势
30-Apr-2019 PublicInvest Research Headlines - 30 Apr 2019
29-Apr-2019 Malaysia Strategy – FBM KLCI to Hit 1,850?
22-Apr-2019 Strategy - Market to re-rate as Malaysia-China ties warm
22-Apr-2019 Petronas Chemicals Group - Accident Gives Rise to Delay Risks
15-Apr-2019 Petronas Chemicals Group - Accident Gives Rise to Delay Risks
15-Apr-2019 边佳兰中心爆炸·国油化学惊跌12仙
12-Apr-2019 Petronas Chemicals Group - RAPID explosion could slightly dampen earnings
29-Mar-2019 热门股:国油石化上挑RM9.25
27-Mar-2019 Oil & Gas - Reigniting the Fire
18-Mar-2019 Invest Malaysia 2019 - Research Guide by Maybank IB

Business Background

Petronas Chemicals Group Bhd manufactures and sells a variety of petrochemicals. The firm organizes itself into two segments based on product type: Olefins & Derivatives and Fertilizers & Methanol. The Olefins & Derivatives segment, which generates the majority of revenue, sells chemicals used in the production of acrylic acids, antifreeze, printing ink, dyes, gas treating solvents, personal care products, and plastics used in packaging films, wires, cables, and ducting. The Fertilizers & Methanol segment sells chemicals used in gasoline additives, plastic resins, ammonia, and fertilizers. The majority of revenue comes from Malaysia, China, and Indonesia.
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  7 people like this.
Rwkl So what was your prediction that came true and who are the buyers?
08/05/2019 5:09 PM
Rwkl Yes it’s true epf is selling millions but no one can correctly predict price direction. You can only guess albeit educated.

If investing is so simple as to follow epf footsteps, we are all majority shareholders of sapura by now
08/05/2019 5:25 PM
risktransformer Rwkl, my prediction that came true (so far) was (1) EPF will continue selling several million shares regularly for many many months ....can even b up to 2 years (2) the price direction is down (at that time the price was RM9.10 to RM9.30) and at this moment the price is RM8.83.
09/05/2019 9:35 AM
risktransformer Rwkl, since u mentioned Sapura Energy.... FYI, EPF did the same thing to Sapura Energy during the past few years (kept selling several million shares daily.... bringing down the price from RM2.60 to RM0.265). In case u may think I hold a lot of Sapura shares.... no, I only buy & sell small quantities of Sapura shares.
09/05/2019 9:56 AM
Rwkl Risk, if you base your sell call on Pchem based on epf consistent selling, would you buy if they do the opposite?
09/05/2019 4:02 PM
risktransformer Yes, if EPF start buying several million shares every other day then I'll definitely buy.... after all, PCHEM is a fundamentally strong & profitable company. Currently, the downside risk of this counter is caused by two factors: heavy selling by EPF as well as the possibility of the stock market crashing soon.
09/05/2019 9:37 PM
risktransformer This time I agree with calvintaneng....... the stock market might SINK!

calvintaneng: Cannot buy Pchem and also cannot buy Ltan

Market might

22/04/2019 1:24 AM
09/05/2019 9:42 PM
titus risktransformer, pls curse the stock till goes to 7 if possible. If fact if you can curse it till RM5, i call u daddy.....hehe......
10/05/2019 9:21 AM
risktransformer Y should I curse this stock? This is a good stock (& good company). I am just stating the fact that in the current situation it is risky to hold huge position in this stock (hold a little for long term is O.K.). Besides EPF's heavy selling in recent months, it is also a fact that our KLCI has fallen as much as 11.51% from its recent peak of 1,826.90 (this confirmed that our stock market is in correction mode.... if the fall extend to 20% then it will be in bear market).
10/05/2019 10:05 AM
Rwkl Of course anyone can have a opinion on the markets direction but my bone of contention is why allow epf be the sole or main contributor in our decisions?
Markets will crash. When? I don’t know. What I do know is the cream will eventually rise to the top.
Yes don’t invest all in 1 go but generally investors of Pchem and the likes should generally stay in the market rather than timing the market.l
As you put it market was down 11pct but despite epf consistent selling Pchem drop was only 5pct. 930 to 883
I do hold a few stocks where epf has been continuously buying for months but I wouldnt dare declare jumping on board for the short term at least.

A look at past annual reports shows epf, Kwap,asb shareholding’s changing like a yo-yo. The only constant is The No. 1 with a 65pct stake.

I find it amusing some so called investors jumps for joy on epf are net buyers and falls into a mini depression on discovering the opposite on a day to day basis
10/05/2019 3:28 PM
Rwkl Epf selling sapura from 2.65 all the way down to 26.5sen?

Surely not a highlight reel in their annual report........
10/05/2019 3:32 PM
Got Offfer From UBS Shanghai - Bye Bye Sapura energy has a shit balance sheet look at their gearing level. Pchem on the other hand has very minimal debt.
10/05/2019 3:40 PM
risktransformer Hahaha! EPF buying/selling is not the only deciding factor in my investment (but in this case with PCHEM.... it is so obvious that EPF's selling has contributed to its price drop). Now the KLCI has dropped by 11.86% from its recent peak.... another 8% or 9% drop will bring it to 20% (not far away from a bear market). If u can sleep well seeing all your stock holding falling by another 10% or more then u don't have to b concerned about the market sinking.... just hold onto your stocks.
10/05/2019 5:12 PM
Rwkl I see you are going around i3 spreading fear and panic amongst gullible formers.
Your MO is solely hunting down epf selling acrivities and justify it as all knowing coz they are big.
The fact you are doing it in a subtle and persuasive manner means you must be tagged with a wealth warning.
Funnily you are predicting a further 10pct drop which is no big deal bearing in mind what’s going on.
That’s called hedging your bet I guess but oh you also hinted a 80pct plunge. Now if thar happens a new guru is born.

My prediction? If market drops 10 pct, you will be here milking the adulation.
What remains to be seen is if doesn’t drop.
Slip away quietly and reappear when it eventually happens?

My predictions are always wrong but I am sure I will get it right this adulation part
11/05/2019 3:23 PM
risktransformer Rwkl, I suggested a possible 10% drop for PCHEM because (1) just to b conservative (not to cause panic), (2) PCHEM being a fundamentally strong company is less affected by overall market decline as pointed out by u earlier.

In a bear market, the over all market will decline between 20% and 80%. This is not a prediction, I am merely stating what has been generally accepted by experts & professionals. How far will the KLCI decline?..... this I cannot predict, we will just have to wait & see what happens in the coming weeks or months.

I also did not go around i3 spreading fear as u claimed; I only commented at PCHEM & CIMB which so happen experienced heavy selling by EPF..... commenting at 2 places does not imply going around i3 spreading fear. My explanations here & at CIMB were merely in response to questions asked by others.... if nobody ask I won't give further explanation other than stating my observation about the market.
11/05/2019 4:38 PM
mr yong MALAYsia oil and gas company all HUGE DEBT ,Crude oil price low oil n gas sector DIE ,biggest exporter EURO don't want PALM OILplantation sector DIE ,IMDB HUGE debt,Tabung HAJI billion billion losses ,household DEBT 80% GDP MALAYsia people NO MORE purchasing power BANk and PROperty sector will going SlowDOWNn ,GOVT DEBT nearly 1 TRILLION GOVT no more MONEY do Infrastructure CONstuction sector DIE .OIL and PALM OIL contribution GDP 40% ,MALAYsia deficit,malaysia GOVT selling asset HK property selling TELCO asset to FOREIGN company,SOVEREIGN fund khazanah selling stock ,EPF selling stock,FOREIGN FUND selling malaysia BONDS ,Economy RECESSION..MALAYSIA CRISIS induced ASIAN FINANCIAL CRISIS 2019.
13/05/2019 2:36 PM
quincy https://www.theedgemarkets.com/article/airasia-petronas-chemicals-added-ftse-valuestocks-asean-index.
15/05/2019 9:29 AM
Dakewlest Good for the share price, i guess
16/05/2019 9:41 AM
pakabu Petronas Chemicals buys Da Vinci for RM760.6m to venture into specialty chemicals - Business News | The Star Online https://www.thestar.com.my/business/business-news/2019/05/16/petronas-chemicals-buys-da-vinci-to-venture-into-specialty-chemicals/#jGFfcEIf9wvxK50o.41
17/05/2019 5:44 PM
Ela Deraraj why still q report not announcement?
21/05/2019 3:35 PM
PotentialGhost Malaysia really have problem , every stock keep dropping everyday , Malaysia bursa situation is worst than 2009 , even India index also break new high record . Why our Malaysia keep drop everyday? Ask PH government.
23/05/2019 9:11 AM
Shinnzaii wew...now chemical become trade war victim?
23/05/2019 9:22 AM
mamatede what an opportunity to collect more.
23/05/2019 9:27 AM
Dakewlest I will wait for QR first.
23/05/2019 10:00 AM
PotentialGhost Not trade war problem , is Malaysia problem , sure have problem . Check out Indian stock index they already break new high .
23/05/2019 11:05 AM
Huatexpert Pengerang chemical plant will operate at the wrong timing...Asia got oversupply of MEG at this moment with negative margin..

Malaysia's PETRONAS Chemicals Group (PCG) plans to start up its 740,000 tonne/year monoethylene glycol (MEG) plant at the refinery and petrochemical integrated development project (RAPID) in Johor state in 2019, a company source said on Monday.
The new plant will also be able to produce 610,000 tonnes/year of ethylene oxide (EO).
PCG runs an MEG facility with a nameplate capacity of 400,000 tonnes/year in Kerteh, Malaysia.

Asian monoethylene glycol makers plan production cuts to ease supply glut amid poor margins

23/05/2019 1:57 PM
mcmann Wah huat kor nice info thanks for sharing, im thinking what the F it gap down today
23/05/2019 2:29 PM
mamatede Aya, how to compare indian stock with Malaysia. India is the next potential big thing (if of cause their people become hardworking). Pchem product is quite diversified. From urea, to synthetic rubber, etc.
23/05/2019 3:36 PM
Shinnzaii >Posted by mamatede > May 23, 2019 3:36 PM | Report Abuse

Aya, how to compare indian stock with Malaysia. India is the next potential big thing (if of cause their people become hardworking). Pchem product is quite diversified. From urea, to synthetic rubber, etc.

yes...but the main one olefins & other derivatives contribute>60% of PCHEM revenue while urea and others contribute 30%>...not so sure MEG contribute how much %...hehe
23/05/2019 4:19 PM
enigmatic [Breaker of Speculative Investing] What?! Fallen to RM8.63?
That's not a price low enough for me to stock up.
Drop to RM8.00 then I can consider.
24/05/2019 2:17 AM
EatCoconutCanWin worst result .
24/05/2019 1:47 PM
RainT habis
24/05/2019 2:19 PM
RainT eat sand
24/05/2019 2:21 PM
RainT almost all companies In klse is getting cheaper & cheaper day by day
24/05/2019 2:28 PM
Shinnzaii should be dropping...unless fund support...this quarter lower selling price +high level of maintenance...
24/05/2019 3:01 PM
Dakewlest Q4 the strongest quarter???
24/05/2019 3:16 PM
mamatede seems pretty alright quaters
24/05/2019 4:18 PM
mamatede as usual no surprises in quarters. thats what we want in this trying times.
24/05/2019 4:21 PM
RainT wah

bad quarter result but share price seem still able to sustain

no big drop
24/05/2019 4:30 PM
apolloang EPF tipu rakyat
24/05/2019 4:31 PM
jellyfish institution funds hold it for long term investment, they dont easily affected by QR results
24/05/2019 4:45 PM
jellyfish some retailers might sell..
24/05/2019 4:46 PM
jellyfish i see funds are buying
24/05/2019 4:49 PM
jellyfish its a save heaven for this difficult time
24/05/2019 4:52 PM
RainT EPF need play role to pick up and support those shitty gomen link companies

that have low quality management and not competitive

this is MALAYSIA boleh!
24/05/2019 4:52 PM
RainT which fund u see is buying ?
24/05/2019 4:52 PM
apolloang most of it is EPF manipulation
24/05/2019 4:53 PM
(US/CHN trade war doesn't matter) Philip With 11.6 billion in cash and slightly over 2 billion in borrowing, the company is as strong as ever. It's sales reduction this quarter is more an issue of statutory turnaround and maintenance activities and not due to any competitive or permanent problem. As PIC is still on track, and the company has done a good job with bolt on acquisitions, I am firmly still unchanging in PCHEM moving forward.

Their purchases on da Vinci is a good bolt on. Paying 163 million for a company that did 200 million revenue with slightly above 11 million net profit, a specialty chemical company with it's open brand of silicones, lube oil, additives and chemicals. Being incorporated in Netherlands in 2016, it is a growing company with good future, and not a local Malaysian crony.

I think PCHEM will continue to do well in the future, and am content to build up my position as the stock price drops again, giving a far larger discount in price over fundamentals.

I believe next quarter the turnaround will be over and we can proceed to collect more money.


PCG Group recorded lower plant utilisation of 95% as compared to 100% in the corresponding quarter, mainly
due to higher level of maintenance and statutory turnaround activities at its methanol and aromatics plants
respectively. Sales volumes was lower in line with lower production
24/05/2019 8:23 PM
qqq3 first round to drop all the shitty companies......as slow down accelerates blue chips also come down.
24/05/2019 8:40 PM
mamatede pchem is in a different new game now that it has the upcoming pic.
25/05/2019 7:30 PM


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