
Petronas Chemicals rises to six-month high on EPF accumulation
EPF purchased 5.13 million shares in multiple transactions over the past week, following PetChem's second-quarter results on Aug 13. The retirement fund now holds 11.77 per cent or 941.31 million shares, up from 11.70 per cent or 936.18 million shares, over the same period.
PetChem slipped into a net loss of RM1.08 billion for the quarter ended June 30, 2025, weighed down by weaker product spreads, substantial unrealised foreign exchange losses and asset impairments.
The results sent its share price down 9.09 per cent or 36 sen to RM3.60 on Aug 13, from RM3.96 the previous day. The counter later eased to RM3.56 last Friday before rebounding this week, rising from RM3.65 on Monday to RM4.18 today, its highest level since Feb 12.
At the current price, PetChem's market capitalisation stands at RM33.44 billion. Year-to-date, the stock has lost about 14 per cent.
In response to the weak performance, PetChem said it is undertaking a strategic review of its portfolio across the value chain, alongside cost-cutting and workforce resizing measures. The group is also reassessing investments in joint ventures and associates.
The review comes against a backdrop of heightened geopolitical tensions in the Middle East and tariff developments that have weighed on crude oil prices and pressured the US dollar.

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Borneo Post
7 hours ago
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New Straits Times
9 hours ago
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New Straits Times
15 hours ago
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