PetChem’s Q1 net profit plunges 74% FMTNews FMTBusiness
Petronas Chemicals Group Bhd attributed the quarterly drop in revenue to lower sales volume due to weak demand and lower product prices in line with the decline in energy prices.
On a quarterly basis, PetChem’s net profit grew 11% from RM481 million while its revenue dropped 13%. In the meantime, the specialty segment’s revenue tripled to RM1.7 billion, primarily due to the inclusion of a recently acquired subsidiary.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong blasts rights group over missing Uighur man allegation | The Malaysian InsightGovernment says Amnesty’s claims are 'groundless and unfounded' and 'slandered the human rights situation' in the city.
Read more »
Dogs Ministry group in Indonesia ready to make your dog the perfect companionLocated in the Pluit ward of North Jakarta, the dog-friendly premise aims to be a locus of care, knowledge and joy for all dog lovers in the city.
Read more »
Hotel group backs Penang's move to manage short-term rentalsPETALING JAYA: The Malaysia Budget and Business Hotel Association (Mybha) fully supports the Penang government's move to regulate short-term rental (STR) accommodation on the island.
Read more »
After Anwar justified Boustead bailout, anti-graft group says culprits must answer for LCS scandalKUALA LUMPUR, May 29 — Anti-graft watchdog Transparency International Malaysia (TI-M) has today called on Datuk Seri Anwar Ibrahim’s administration to hold those responsible...
Read more »
HK blasts Amnesty over missing Uyghur man claimThe rights group alleges that he disappeared after arriving in the city.
Read more »
US conducts strike near site of Shabaab attack in Somalia | The Malaysian InsightThe Africa Command says it destroyed weapons, equipment stolen by the al-Qaeda-linked jihadist group.
Read more »