Petronas Chemicals extends four-day rally as warrants surge fivefold
By midday, PetChem's stock had risen 12.44 per cent to RM4.70, its highest since Jan 23, extending a four-day surge that topped yesterday's six-month peak. Fueling the charge was the Employees Provident Fund (EPF), which has been steadily accumulating shares in recent sessions.
The counter saw 33.94 million shares change hands, its highest single-day volume recorded in at least two years. The rally also spilled into call warrants tied to the stock, with six of nine posting outsized gains.
Among the standouts was Pchem-C1F which soared 500 per cent, or 2.5 sen, to three sen from half a sen. Pchem-C1H gained 115.38 per cent, or 7.5 sen, to 14 sen, while Pchem-C1J doubled to 23 sen, up 11.5 sen. Both Pchem-C1D and Pchem-C1E also doubled from half a sen to one sen, while Pchem-C1I surged 92.31 per cent to 25 sen.
EPF purchased 5.13 million shares in multiple transactions over the past week, after PetChem's share price slumped 9.09 per cent to RM3.60, following its RM1.08 billion net loss for the second quarter ended June 30, 2025.
Since releasing its quarterly results on Aug 13, PetChem has rebounded by RM1.10, or 30.55 per cent, with the retirement fund now controls 11.77 per cent, or 941.31 million shares, of the company.
At RM4.70, PetChem commands a market capitalisation of RM37.60 billion. However, the stock remains 3.29 per cent below its year-opening level of RM4.86.
PetChem is 64 per cent-owned by Petronas, according to its latest annual report, with EPF and Amanah Saham Bumiputera among its other heavyweight institutional shareholders.
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