Ha, so now we know who are the shorts!

prettygal

So basically they accumulated all the Forex paper loss of the 2019 US 9.8 billion loans for the Pengerang project, letting them out 1 shot at this quarter. Weird weird weird accounting.

So so agree.

Isn't it obvious that the Management team needs to be revamped and bring in a talented team to turn it around? Petronas has always been a trailblazer so really don't understand why nothing is being done.

Internal board of directors leaking info regarding the recent price drop is due to foreign currency lose more than 190millions USD

No wonder! There is reason for PetChem low share price vis a vis PetGas and PetDag. Not just market issues.

https://says.com/my/lifestyle/forbes-best-companies-in-the-world?fbclid=IwY2xjawGMTABleHRuA2FlbQIxMAABHTXRUkzvRbXL96QWVAzNoZBdEmbRKPxtmO-yOZ-CWngNgoayTZTIyyrrAg_aem_PtFLB3QJY-HaJhTEf2leiw
World's Best Employers list 2024

Here are the Malaysian companies that made the list:

86. Petronas Chemicals
Industry: Drugs and biotechnology
Employees: 50,000

“The corruption culture is rampant because we don’t have a system that gives us periodic feedback on expenditure,” said Rafidah.

Wise words as usual. She could have been a great Prime Minister.

Why the drop in price today after Budget?

Didnt even get any notification about the rights issue. Aren't they supposed to email to us?

Keep dropping. Whats wrong with this company?

Really moving this couple of days. Good news?

Saw this update. EPS is expected to grow by 55% over the next 3 years,

First half dividend of RM0.10 announced
Shareholders will receive a dividend of RM0.10.
Ex-date: 30th August 2024
Payment date: 12th September 2024
Dividend yield will be 2.7%, which is lower than the industry average of 3.2%.
Sustainability & Growth

Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (46% cash payout ratio).
The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.
EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover.

IPO price is 5.04. Can it go below that?

PetChem most disappointing company. After averaging still go down! When go up only a few cents. What is happening to the Petronas companies - Petronas Dagangan shares also plunging!

Any news of dividend?

Thanks Mabel for the explanation. Just that PetChem should be able to withstand such pressures as higher operating costs and foreign exchange losses, which are also faced by Petronas Gas or other international companies. Maybe the market does not see that Perstop is a good acquisition.

Dont understand how PetChem works. Revenue increases but profit margin plunges! I can understand it if revenue plunges and this is from the stable of Petronas well run companies! Now even their dividend plunges!
Petronas Gas and Petronas Dagangan have always done well!

So they are listening to all the earlier comments of giving higher dividends.

Thanks Sardin for all your input here and UP.

Yes I wonder why its so quiet here.

What happened to this company? Price just go lower.

Yay finally a bumper dividend

Philip, so agree.

Still no dividends for 1 year for a profit making bank. What is EPF doing?

Agree, I wonder what he is doing with all the spare capacity ie surplus workers, factories, workers’ houses owned by the company. Surely there is a hidden opportunity to tie up with a business that needs this like the plantations which are short of workers.