LOTTE CHEMICAL TITAN HOLDING BERHAD

KLSE (MYR): LCTITAN (5284)

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Last Price

1.03

Today's Change

0.00 (0.00%)

Day's Change

1.01 - 1.03

Trading Volume

445,000


17 people like this.

12,750 comment(s). Last comment by cbkia4896 6 days ago

spy008

177 posts

Posted by spy008 > 2017-09-21 11:42 | Report Abuse

We wish to announce that a small fire broke out at the site of our TE3 Project (i.e. the project for our KBR Catalytic Olefins Technology catalytic cracking reactor that is to be attached to our existing second naphtha cracker plant in Pasir Gudang, Johor, Malaysia) at about 2:23pm on 20 September 2017. The fire was put out at about 2:41pm. We are still in the midst of investigating the cause of the fire.

No one was injured in the incident and all other plants at the Pasir Gudang site were not affected. There is no impact on normal production and all other plants are running normally.

The Company is assesing the financial impact on the Company and will make an immediate announcement once determined.

There is minor damange and we expect the TE3 Project commercial startup to be on track by Q4 2017. We will provide an update on the TE3 Project as soon as possible.

This announcement is dated 21 September 2017

Posted by MoreNMoreMoney > 2017-09-21 11:43 | Report Abuse

" There is no impact on normal production and all other plants are running normally. "...is this a good news?

Maxireturn

160 posts

Posted by Maxireturn > 2017-09-21 11:44 | Report Abuse

The announcement says the fire started at 2.23pm and was put out on 2.41pm. And there was no impact on normal operation and all other plants are running normally....

spy008

177 posts

Posted by spy008 > 2017-09-21 11:45 | Report Abuse

If its TRUE, then shouldn't have much impact except losses on machineries / repair works... ??

Posted by weavefinder > 2017-09-21 11:45 | Report Abuse

spy008, in my reading this is not an ongoing operation but perhaps a test run. Becos the keyword is project. new plant testing perhaps. What do yo think?

ys2k

19 posts

Posted by ys2k > 2017-09-21 11:59 | Report Abuse

the term "project" can be anything, so used it to represent team, some used it to represent a department...it is too vague to conclude it as "testing"

the thing surprise me on the stock has been suspended due to that announcement...it is unusual...

Posted by weavefinder > 2017-09-21 12:02 | Report Abuse

Provide time for people to digest info, and make decisions. I think 2.30 will resume

AhTek

582 posts

Posted by AhTek > 2017-09-21 12:02 | Report Abuse

can't imaging the prices when resume trade...

ys2k

19 posts

Posted by ys2k > 2017-09-21 12:15 | Report Abuse

the way i read the announcement is not too negative, suspend the trade just make it sound "negative"...

they should hired a better PR to
- release the announcement on the same day if it is nothing too major
- not to suspend the trade unless the announcement is very bad

isn't that should be the PR's job make it sound better to public rather than make it worst?

spy008

177 posts

Posted by spy008 > 2017-09-21 12:17 | Report Abuse

I think it's good move to suspend for disclosing the information. But i think it shall be done pre-opening market...

Let people have some idea on what's happening and make own decision.

spy008

177 posts

Posted by spy008 > 2017-09-21 12:28 | Report Abuse

OK. Based on the edge report, Maybank IB says it is the new plant and might delayed by 1-3 months....

Good news is, at least it wont affect the current productivity, just the expected additional productivity is delayed (but the new capacity is ALOT !! was expected to improve the capacity from 354 KTA to 3,368 KTA... but gone atm....



From THE EDGE:

"TE3 is a new plant which involves the extension of its current facilities in Malaysia. Currently, the plant is undergoing commissioning process ahead of its planned start-up in October this year.

The plant has a nameplate capacity of 354KTA to lift LCT's total capacity to 3,368KTA by this year-end.

Mohshin said this fire will likely delay the start-up process as the management and authorities will carry out their investigation."

spy008

177 posts

Posted by spy008 > 2017-09-21 12:33 | Report Abuse

Combining the edge report & company report:

The plant should be commissioning soon, maybe in weeks which is early Q4 2017,

Now to be delayed by 1-3 mths, which hopefully can be commissioned in late Q4 2017.

Posted by projecti2016 > 2017-09-21 12:37 | Report Abuse

No big negativity. price to hold out the storm

Posted by weavefinder > 2017-09-21 12:49 | Report Abuse

In retrospect, the announcement was released at about 11.45 just after the market maker had his duel with the impending barrage of shares raining down on him. The suspension and announcement came when it was in the green. What would have happened should it be suspended early or midway when it was in the red? Could this provide an opportunity for the market maker to remove the uncertain holders effectively? So what will happen at 2.30....up or down.

Wywy

18 posts

Posted by Wywy > 2017-09-21 13:39 | Report Abuse

Seems no big deal. Rebound and recover in time soon.

And based on the odd trading behavior before it halted the trades, somehow smells like insider exchanging volume or something?
Curious about the opening later.

kuaTAKtahu

1,460 posts

Posted by kuaTAKtahu > 2017-09-21 14:14 | Report Abuse

time to fly back > 550 .

Posted by MoreNMoreMoney > 2017-09-21 14:19 | Report Abuse

2:30pm resume trading.

Posted by MoreNMoreMoney > 2017-09-21 14:20 | Report Abuse

no ppl queuing

hklcheng

1,317 posts

Posted by hklcheng > 2017-09-21 14:32 | Report Abuse

drop

Posted by GooGooDolls > 2017-09-21 14:33 | Report Abuse

so easy fire burn? memang con job

Leo72

131 posts

Posted by Leo72 > 2017-09-21 16:48 | Report Abuse

susah la main counter ni

andr

458 posts

Posted by andr > 2017-09-21 17:24 | Report Abuse

@abang_misai "Estimated loss from today fire is around RM730mil. My goodness.. "

did you just spread this fake info?

David Ang

29 posts

Posted by David Ang > 2017-09-21 17:49 | Report Abuse

next week start to fly.........

Jeffreyteck

4,246 posts

Posted by Jeffreyteck > 2017-09-21 17:52 | Report Abuse

"Despite this incident, the research house still maintains its buy call with a target price of RM7.85" haha, is a good one, but no deadline. Good luck.
http://www.theedgemarkets.com/article/minor-impact-lotte-chemical-titan-earnings-fire-incident-say-analyts

kuaTAKtahu

1,460 posts

Posted by kuaTAKtahu > 2017-09-21 17:59 | Report Abuse

.

meistsk3134

2,368 posts

Posted by meistsk3134 > 2017-09-21 18:32 | Report Abuse

fire damage.. some1 doing it

Posted by isupertrader > 2017-09-21 19:02 | Report Abuse

Must be u la

SuperPanda

11,431 posts

Posted by SuperPanda > 2017-09-21 21:31 | Report Abuse

its me la.. i sold at 5.85 after burn can buy at 5.20.. ha ha

ivankvs

517 posts

Posted by ivankvs > 2017-09-21 23:44 | Report Abuse

Buy ?

gsi723

903 posts

Posted by gsi723 > 2017-09-22 06:31 | Report Abuse

LCTITAN, HENGYUAN up down / up down, good for traders n broker...

brightsmart

3,784 posts

Posted by brightsmart > 2017-09-22 09:27 | Report Abuse

major scheduled close for maintenance in third quarter.

Jeffreyteck

4,246 posts

Posted by Jeffreyteck > 2017-09-22 09:34 | Report Abuse

Good support by almost all analysts, but don't know their own IBs are selling or collecting now? Hopefully the management really know the fire impacts on its bottom line this round, unlike the previous water disruption impact which they failed totally to determine its impacts and looks like it is acceptable excuse as there was no action taken by anyone.

Winmore88

1,165 posts

Posted by Winmore88 > 2017-09-22 10:02 | Report Abuse

should be colllected by their IB, or else how come will so fast recover from rm5 until 5.3 ? and now i guess down side will be minimum and heading back 2 rm6.5

smartly

6,430 posts

Posted by smartly > 2017-09-22 12:30 | Report Abuse

plant catches fire!!! likely will take this as an excuse to report lower q result or probably at a loss just like what happen to hovid when their license revoke, they reported 2 q loss.

smartly

6,430 posts

Posted by smartly > 2017-09-22 12:31 | Report Abuse

stay sideline first is a better choice than investing your money now.

wklee9113

179 posts

Posted by wklee9113 > 2017-09-22 22:34 | Report Abuse

Absolutely right

Posted by projecti2016 > 2017-09-22 22:40 | Report Abuse

market support still strong

kahsoon888

711 posts

Posted by kahsoon888 > 2017-09-22 22:57 | Report Abuse

Don't sit, buy now before late

enning22

2,898 posts

Posted by enning22 > 2017-09-23 16:19 | Report Abuse

this is a chemical technology stock, if you have knowledge and confidence in Korean chemical technology , and their capability of solving problems encounter the industry ,then you invest,if not, better stay sideline. I , for one think Korean chemistry and engineering technology standard, are reasonable advanced.

4444

1,800 posts

Posted by 4444 > 2017-09-23 16:26 | Report Abuse

Oil up is bad news.
https://finance.yahoo.com/quote/CL=F?p=CL=F

enning22

2,898 posts

Posted by enning22 > 2017-09-23 17:29 | Report Abuse

as they said it wouldn't go much higher ! is this a problem
https://finance.yahoo.com/quote/CL=F?p=CL

John Angel

255 posts

Posted by John Angel > 2017-09-23 21:08 | Report Abuse

i don;t like this stock, how you all so like ?

enning22

2,898 posts

Posted by enning22 > 2017-09-23 22:17 | Report Abuse

who care,any bias or unbias ,individual feeling is worthless , not interested.

SuperPanda

11,431 posts

Posted by SuperPanda > 2017-09-24 21:31 | Report Abuse

buy for the value. the only prob is, it hve bad IPO image vs qtr rpt, thts coz price up down much and fear drop again to lowest 4.14

i would buy more at 5.0-5.10, RSI 40-50% and sold if 60-70% until nxt qtr out. once profit proven, will break resistance rm6 then hold until hit bck ipo 6.50.

jst shared my strategy, u may hve ur own

ivankvs

517 posts

Posted by ivankvs > 2017-09-24 21:52 | Report Abuse

..

kuaTAKtahu

1,460 posts

Posted by kuaTAKtahu > 2017-09-25 09:19 | Report Abuse

CIMB give high Target price, RM 8.50

ialatif

74 posts

Posted by ialatif > 2017-09-25 10:14 | Report Abuse

ben van buerten shell CEO in an interview with CNBC predicts price at USD60 for this decade so no worries about price going higher than that

enning22

2,898 posts

Posted by enning22 > 2017-09-25 11:20 | Report Abuse

Are OPEC’s Hands Tied?

By Irina Slav - Sep 24, 2017, 10:00 AM CDT
OPEC
Brent is back above US$55 for the first time since February and WTI is hovering above US$50. The world should look like a better place for OPEC members and their partners who had to cut the economic equivalent of live flesh to make it happen. Yes, the latest global oil supply data has confirmed that the OPEC/non-OPEC Vienna Club has achieved its goal of cutting oil supply to more manageable levels. Yes, OPEC’s output has fallen markedly. But no, this won’t last long.

The IEA’s latest Oil Market Report found that global crude oil supplies had fallen by 720,000 bpd in August, not just as a result of deliberate cuts, but also thanks to outages and field maintenance—mostly in non-OPEC producers. The agency also noted oil production in OPEC fell in August for the first time since March, while compliance with the cut deal improved to 82 percent, making the overall for the year-to-date adherence 86 percent.

The Vienna Group’s compliance monitoring committee is meeting today to discuss the progress, and the oil ministers will probably have reason to pat each other on the back. They did it: oil supplies are down and prices are up. But that’s just for now, and on this point, analysts seem to be unanimous. Higher summer demand in the northern hemisphere had a part to play in the oil supply decline, and that part was no small one. Production outages, most notably in Libya, also helped to drive global supply down.

Now summer season is over and demand will start falling. While the situation in Libya remains unstable and no accurate predictions can be made about further disruptions in oil production there, U.S. shale producers may start adding rigs once again, after a month or so of slowing. Other non-OPEC producers, for example in the North Sea, are also eyeing higher production going forward, which, according to the IEA, is bad news for OPEC and its partners as this higher output will exceed the demand growth rate next year.

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