Petronas Chemicals Group Bhd first half 2011 results were within expectations. Overall, the numbers showed a year to date improvement, attributed to higher realised prices on increasing demand and higher volume sold following an improvement in plant utilisation.
Nevertheless, OSK is downgrading its call from 'subscribe' to 'neutral' given that the share price has rallied and is nearing the target price of RM5.51, from its IPO price of RM5.20. - Bernama