PCG Demonstrates Resilience On Strength Of Diversified Portfolio
The Group sustained its operational performance with plant utilisation rate of 94% in 1Q 2025, comparable against 4Q 2024. Revenue grew 3% quarter-on-quarter to RM7.7 billion driven by higher average prices of urea, methanol, and polyethylene as well as improved sales performance in the specialties segment. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose 26% to RM892 million, supported by better spreads for urea, methanol, methyl tert-butyl ether (MTBE) and olefin derivatives, coupled with reduced operational costs. However, Profit After Tax (PAT) declined to RM18 million from RM539 million in the previous quarter, largely due to unfavourable foreign exchange movement.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
44 minutes ago
- Barnama
CGC100 Fast Track Produces 20 New Young Entrepreneurs, Adds AI in Third Cohort
KUALA LUMPUR, Aug 15 (Bernama) -- Twenty aspiring entrepreneurs graduated today from the CGC100 Youth Entrepreneurship Programme Fast Track Cohort Two, an initiative by Credit Guarantee Corporation Malaysia Bhd (CGC). Conducted in collaboration with PINTAR Foundation and supported by the Ministry of Education, the programme targets aspiring entrepreneurs aged between 18 and 23 from B40 and M40 communities. CGC chairman Datuk Mohammed Hussein said the initiative goes beyond equipping participants with basic business skills, focusing also on instilling values to build ethical, sustainable and resilient ventures. 'This six-month programme serves as a platform to teach fundamental business skills, but more importantly, it aims to instil values in running a business. 'Sustainable and resilient businesses can only be achieved through active participation, not just by owning shares,' he told reporters after the CGC100 Fast Track Cohort Two Graduation Ceremony and Fast Track Cohort Three Launching here today. Also present was CGC president and chief executive officer Datuk Mohd Zamree Mohd Ishak. The CGC100 Youth Entrepreneurship Programme has so far produced 70 graduates, including from the 12-month Comprehensive Track programme, and created 61 new jobs, with 64 per cent of participants earning more than RM10,000 per month. The impact spans 20 industries, with 80 per cent of graduates successfully registering their businesses with the Companies Commission of Malaysia (SSM), and 71 per cent of financing applicants securing the full amount requested. The upcoming Fast Track Cohort Three, scheduled from August 2025 to February 2026, will enrol 30 participants in a seven-month curriculum covering business fundamentals, environmental, social, and governance (ESG), branding, the digital economy, financial literacy and pitching.
The Star
an hour ago
- The Star
Malaysia's current account surplus to remain in surplus this year
KUALA LUMPUR: Malaysia's current account balance is expected to remain in surplus of between 1.5 per cent and 2.5 per cent of gross domestic product (GDP) in 2025, said Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour today. This follows a smaller current account surplus of RM300 million, or one per cent of GDP, recorded in the second quarter of 2025 (2Q 2025), mainly due to cyclical factors such as planned maintenance that disrupted commodity production. This has, in turn, led to a RM5.1 billion quarter-on-quarter drop in mining-related exports and a sharp rise in capital imports following the realisation of data centre investments. "Overall, the current account balance in the first half of this year (1H 2025) remains healthy at 1.7 per cent of GDP compared to 0.9 per cent in 1H 2024," Abdul Rasheed told reporters after announcing Malaysia's 2Q 2025 economic growth here today. He reiterated that the increase in capital imports would strengthen Malaysia's exports in the long term as the operationalisation of data centre investments is expected to contribute to services exports. "We have seen some of this coming already. In addition, higher travel receipts driven by the continued rise in inbound tourism are expected to contribute to the further narrowing of the services account deficit," he said. Abdul Rasheed said the encouraging development is expected to continue into 2026, following government initiatives such as enhancing flight connectivity and the Visit Malaysia 2026 campaign. Meanwhile, Statistics Department Malaysia chief statistician Datuk Seri Mohd Uzir Mahidi, who was also present, noted that Malaysia's foreign direct investment (FDI) in 2Q 2025 recorded a smaller inflow of RM1.6 billion against RM15.6 billion in 1Q 2025, mainly due to sustained inflows in equity injections and higher debt instrument inflows. The equity and debt inflows were, however, partially offset by outflows in reinvestment of earnings, given higher dividend payments and losses registered by some foreign companies in the manufacturing sector, he said. "These FDIs were channelled mainly into the services sector, predominantly in financial activities and information, communications and telecommunication sub-sectors. The FDIs were primarily from Singapore, Japan and the United Kingdom," Mohd Uzir said. - Bernama
The Sun
an hour ago
- The Sun
Interim measures curb medical costs and insurance inflation in Malaysia
KUALA LUMPUR: Interim measures to manage rising medical costs remain effective, as ongoing initiatives will strengthen healthcare delivery and help curb medical insurance inflation, said Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour. He said that over the past three years, the government has implemented five key thrusts and 11 recommendations aimed at improving medical services, enhancing implementation, and addressing the rising cost of health insurance premiums. 'For example, we are revamping the medical and health insurance/takaful (MHIT) product. You may be able to see the base product. We are testing it as we go,' he told a press conference after announcing Malaysia's second-quarter 2025 (2Q 2025) gross domestic product (GDP) performance here today. The MHIT revamp involves a redesigned base product, to be completed by year-end and rolled out in selected areas next year. Abdul Rasheed said other initiatives involve strengthening the digital health system, expanding cost-effective healthcare options, leveraging primary care providers to reduce implementation costs, and transforming the primary care payment mechanism through digital tools. 'These efforts are expected to bring down payment costs and ensure a more sustainable healthcare system,' he added. Last December, BNM announced interim measures with the insurance and takaful industry to help policyholders facing premium revisions for their MHIT products, aimed at easing their immediate financial burden while preserving coverage. - Bernama
