Latest news with #JangSeonPyo
Fibre2Fashion
08-05-2025
- Business
- Fibre2Fashion
Malaysia's Lotte Chemical Titan narrows Q1 losses despite revenue dip
Lotte Chemical Titan Holding Berhad (LCT) has reported net loss of RM134.8 million (~$31.5 million) for first quarter of fiscal 25 (Q1 FY2025), compared to RM189 million in the same quarter last year. Lotte Chemical Titan posted a Q1 FY2025 net loss of RM134.8 million (~$31.5 million), improving from RM189 million last year. Revenue fell 22 per cent YoY to RM1.5 billion (~$351 million) due to lower sales volume. LBITDA dropped 38.3 per cent YoY to RM37.7 million (~$8.8 million). LCT stays committed to strategic goals, including its LINE Project in Indonesia. Although revenue declined 22 per cent year on year (YoY) to RM1.5 billion (~$351 million) primarily due to reduced sales volume the Group showed operational resilience, LCT said in a release. The Group also posted a 38.3 per cent YoY reduction in LBITDA, down to RM37.7 million (~$8.8 million). President & CEO Jang Seon Pyo acknowledged the tough global landscape, shaped by geopolitical tensions and continued oversupply of petrochemical products, particularly in China. However, LCT remains focused on delivering its strategic initiatives chief among them being the LINE (Lotte Chemical Indonesia New Ethylene) Project, set for completion in 2025. LCT is one of Southeast Asia's largest producers of ethylene, propylene, polyethylene (PE), and polypropylene (PP)—key building blocks in plastics used across consumer goods, automotive parts, healthcare, packaging, and more. Fibre2Fashion News Desk (VK)
The Star
06-05-2025
- Business
- The Star
Lotte Chemical Titan posts lower 1Q losses
PETALING JAYA: Lotte Chemical Titan Holding Bhd saw its operational losses for its first quarter of its financial year 2025 (FY25) reduce year-on-year (y-o-y) by 32% to RM127.95mil. Net losses narrowed by 29% y-o-y to RM134.82mil although revenue saw further declines by 22% y-o-y to RM1.49bil. The company said the rise in its bottom line was due to slight improvement of margins, lower depreciation charges and profit contribution from its associate company, Lotte Chemical USA Corp. 'We foresee continued volatility in the global business environment in the near term. Geopolitical factors, including the Russia-Ukraine War, tension in the Middle East, and the impact of President Trump's policies are expected to influence global trade dynamics and crude oil prices,' president and chief executive officer Jang Seon Pyo said in a statement. He noted the sluggish economic performance and oversupply of petrochemical products in China continued to disrupt the supply-demand balance equation. Despite these headwinds, the company will remain focused on its markets in Malaysia, Indonesia, and the South-East Asian region. On a quarter-on-quarter basis, it recorded a lower loss before interest, taxes, depreciation, and amortisation of 92.6% compared with the preceding quarter. This was due to the absence of impairment losses on property, plant, equipment, right-of-use assets and derecognition of foreign exchange gains on dissolution of a subsidiary recorded in the previous quarter. It said the Lotte Chemical Indonesia new ethylene project in Merak, Indonesia is on track for completion this year. Trading ideas: Gamuda, Maybank, Vizione, Majuperak, TAS, West River, Hi Mobility, Evergreen, HeiTech Padu, Genetec, Tan Chong, Ekovest, MR DIY, Frontken
The Star
05-05-2025
- Business
- The Star
Lotte Chemical Titan posts smaller 1Q loss
KUALA LUMPUR: Lotte Chemical Titan Holding Bhd (LCT) foresees continued volatility in the global business environment in the near term, according to president and CEO Jang Seon Pyo. 'Geopolitical factors, including the Russia-Ukraine War, tension in the Middle East, and the impact of President Trump's policies are expected to influence global trade dynamics and crude oil prices. 'Meanwhile, the sluggish economic performance and oversupply of petrochemical products in China continue to disrupt the supply-demand balances,' Jang said in a statement. Meanwhile, LCT's Lotte Chemical Indonesia New Ethylene (LINE) project in Merak, Indonesia is on track for completion this year. 'The management will continue to closely monitor market dynamics and provide updates on the project's progress accordingly.' In the first quarter ended March 31, LCT posted a smaller net loss of RM125.7mil, or loss per share of 5.52 sen, compared with RM178mil, or 7.82 sen in the year-ago quarter due to the slight improvement of margins, lower depreciation charges, and profit contribution from associate company, Lotte Chemical USA Corp.
