KUALA LUMPUR, Aug 22 — Petronas Chemicals Group Bhd saw a declining net profit of RM628 million in the second quarter ended June 30, 2023 (2Q 2023) from RM1.87 billion in the...
KUALA LUMPUR, Aug 22 — Petronas Chemicals Group Bhd saw a declining net profit of RM628 million in the second quarter ended June 30, 2023 from RM1.87 billion in the same quarter last year.
Managing director and chief executive officer Mohd Yusri Mohamed Yusof said Petronas Chemicals faced extreme external challenges in the 2Q 2023. Mohd Yusri said as a result of the drop in crude oil prices and China’s lacklustre demand recovery, average prices of polymers declined by about seven per cent quarter-on-quarter with other olefins and derivatives having a similar trend.
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