Latest news with #LotteChemicalTitanHoldingBhd
New Straits Times
09-05-2025
- Business
- New Straits Times
Lotte Chemical Titan jumps 16pct, volume hits four-year high
KUALA LUMPUR: Shares of Lotte Chemical Titan Holding Bhd surged nearly 16 per cent in morning trade, with volume hitting a four-year high after the company secured a 10-year supply contract worth over RM743.5 million in Indonesia. The stock opened slightly higher at 56 sen, up 2.8 per cent from its previous close of 54.5 sen, and climbed as much as 15.6 per cent to a morning high of 63 sen before the midday break. By midday, it pared some gains to settle at 60 sen, up 10.1 per cent, with 35.95 million shares traded — the highest volume since May 3, 2021. Lotte Chemical Titan manufactures and sells petrochemical products, mainly olefins and polyolefins. On Thursday, the company announced that its Indonesian unit, PT Lotte Chemical Indonesia (LCI), secured a 10-year ethylene supply deal with PT Asahimas Chemical. The contract, which runs from July 1, 2025, to June 30, 2035, is based on market pricing and is expected to exceed 10 per cent of Lotte Chemical Titan's latest annual consolidated revenue. Based on the group's 2024 revenue of RM7.44 billion, the deal could potentially be valued at more than RM743.5 million. For the first quarter ended March 31, 2025, Lotte Chemical Titan reported a net loss of RM125.67 million, narrowing from RM178.03 million a year earlier. Revenue for the quarter fell 22.3 per cent to RM1.49 billion from RM1.92 billion due to lower sales volume and average selling prices. The quarter marked its eighth consecutive quarterly loss, though losses narrowed year-on-year due to improved margins and contributions from a US associate. Asahimas Chemical is an integrated chemical producer for downstream industries in Indonesia. LCI is developing the Lotte Chemical Indonesia New Ethylene (Line) project, expected to be completed in the second half of 2025. The facility will have a production capacity of one million tonnes of ethylene per year. Lotte Chemical Titan said part of the output will be used internally, with the remainder sold to the market.
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.
