PETRONAS Chemicals registers higher net profit of RM777mil in 2Q, declares 10c div/share

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KUALA LUMPUR: PETRONAS Chemicals Group Bhd is contending with a more complex business landscape and heightened volatility in the chemicals industry marked by a long period of overcapacity and low demand.

During the quarter, the plant utilisation rate improved to 89% from 87% in the previous quarter due to a marginal increase in production volume.

The board of directors announced a first interim dividend of 10 sen per share, representing a payout of RM800mil or 55% of 1H24 profit after tax and non-controlling interests.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaSingapore

Topics: Petrochemicals Methanol PETRONAS Chemicals Corporate News Olefin Urea /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-16 @ 13:40:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 413 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22095172

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