their "gloves" venture will only start production in 2023... u wait until neck long long also havent start make profit. perhaps the gloves craze will very much be over by 2022 at most.
hi all, i have sold my Petchem long ago, so not here not ask people buy or sell or recommend anything... just want to highlight my observation on the article below... that is :-
PetChem as the biggest petrochemical company cannot produce and manufacture nitrile butadiene alone by itself? no money? no expertise? or not competitive?.... i think as investors we need to think about this.... perhaps discuss with Philip and seek his view? i think some people followed him to invest this counter....
on the other matter, looks like LG Chem is very good..... PetChem wants to work with them; they are the world's biggest EV battery producer and Tesla buys tonnes of batteries from them, i did recommend him LG Chem over Petchem before.... but anyway no point lah since it's not listed here we can't buy it here and also their share price already shoot up to the moon......
Posted by izoklse > Aug 25, 2020 5:26 PM | Report Abuse
Huraiii PETRONAS Chemical going for Gloves
PETALING JAYA: PETRONAS Chemicals Group Bhd (PetChem) and LG Chem will venture into the rubber glove industry and have inked an agreement to build a nitrile butadiene latex (NBL) manufacturing plant at Pengerang Integrated Complex (PIC) in Johor.
PetChem said in a press release that this facility will further help strengthen Malaysia’s position as the largest exporter of rubber gloves globally.
“Construction of the plant will begin in 2021 while production is scheduled to start in 2023. When completed, the plant will have an annual NBL production capacity of 200,000 tons, ” it said.
Even if their glove venture production can start tomorrow, it doesn't mean it is a good news to petchem. Check TG presentation report. Their raw material is almost the lowest in a decade. Same goes with plastic packaging company. That is why all plastic packaging company has return to profit. Not because the demand or sales increase. Revenue remain almost the same or may +10% but all of them reported profit due to cheap raw material. Hope by 2023, the chemical price gone up la. Anyway, i still park at 4.99.........hehe
At current price, it is worth investing. Bought some today. I think foreign funds have been selling lately and supported by local funds and some retail investors
Seem good to enter . Another good company can try see prtgas . Osk. Gasm malakof .mnrb . Cbip.ioic. Ioip trop tenaga mbsb zhulian . Those companies are good. Osk is my favourite now because too cheap
Pchemcial is good proxy for Petronas, benefited from recovery in crude oil. Strong balance sheet with net cash position + dividend policy 55% offer limited downside risk.
The U.S. Energy Information Administration (EIA) provides an outlook on oil and gas prices from 2020 to 2050. It predicts crude oil prices will average $44 a barrel in the fourth quarter of 2020 and $49/b in 2021 for Brent
Oil prices are on course to climb 10 percent this week as Hurricane Delta shuts in over 90 percent of production in the Gulf of Mexico, leading some analysts to claim prices are set for a breakout.
I do wonder why pchem is not increasing as well, give that is a great business, and should post much better numbers this Q due to higher plastic prices.
@Choivo It has gone up a little recently but unfortunately, Pengerang IC which will utilize Naphtha feedstock is not ready atm.. Natural Gas might not have the wide price spread as Naphtha -> PE/PP?
Wonder about the investors here... how big is your portfolio? I am just a newbie.... starting small. Happy to learn from the seasoned investors. Tq in advance for your kind help.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
AnaiAnai
271 posts
Posted by AnaiAnai > 2020-08-26 09:25 | Report Abuse
red again. drop 15sen another 3x of 5sen dividend payout. now already drop 35sen 7x of dividend payout. See worth or not keep for the 5sen dividend?