Petronas Chemicals posts RM1.08b 2Q loss on weaker sales, asset impairments

AI Summary

Petronas Chemicals Group Bhd (PCG) reported a net loss of RM1.08 billion in Q2 2025, compared to a net profit of RM777 million in Q2 2024. Lower earnings, asset impairment, foreign exchange losses, and higher finance expenses contributed to the loss. Revenue declined 17% to RM6.44 billion due to lower sales volumes, a stronger ringgit, and lower product prices. Plant utilization fell to 77% due to feedstock supply disruptions and maintenance. For the first half of 2025, PCG recorded a net loss of RM1.10 billion compared to a net profit of RM1.45 billion the previous year.