22-04-2025
- Business
- New Straits Times
Petronas Chemicals to drive operational, commercial resilience to boost growth
KUALA LUMPUR: Petronas Chemicals Group Bhd (PCG) is doubling down on its operational and commercial excellence and focusing on safety, plant optimisation, and asset reliability to strengthen resilience.
Managing director/chief executive officer Mazuin Ismail said the integrated chemicals producer continues to operate in an increasingly uncertain global environment, intensified by trade tensions and ongoing market volatility.
"While we have observed some improvement in commodity prices and a modest recovery in specialty chemicals demand during the first quarter of 2025, the overall outlook remains cautious," he said in a statement today.
Mazuin said at the same time, PCG is continuing with its stringent financial discipline and prudent capital spending.
He added that the company's growth strategy focuses on building a robust project pipeline that responds to evolving industry dynamics, while leveraging its global innovation network to deliver cutting-edge solutions.
"Through these efforts, PCG remains strongly committed to long-term value creation for stakeholders and to stay competitive in an increasingly challenging environment," Mazuin said.
PCG today held its 27th annual general meeting to present the company's performance to its shareholders for the financial year ended Dec 31, 2024 (FY2024).
Its net profit fell to RM1.175 billion in FY2024 from RM1.696 billion in the preceding year, in line with lower earnings before interest, tax, depreciation and amortisation (Ebitda) and share of loss from associates and joint-ventures.
Revenue for the year rose to RM30.67 billion against RM28.67 billion year-on-year on the back of sales volume growth across its three business segments.
-- BERNAMA
