Petronas Chemicals Narrows 3Q Net Loss To RM289 Mln

KUALA LUMPUR, Nov 21 (Bernama) -- Petronas Chemicals Group Bhd (PCG) posted a narrower net loss of RM289 million for the third quarter ended Sept 30, 2025 (3Q 2025), compared with a RM789 million net loss in the corresponding period last year.

In a Bursa Malaysia filing, the company reported a 15 per cent decline in revenue to RM6.78 billion from RM7.98 billion, primarily due to lower sales volumes and product prices, as well as the strengthening of the ringgit against the US dollar.

Petronas Chemicals said it narrowed its net loss with lower foreign exchange impact on the revaluation of shareholders’ loan to Pengerang Petrochemical Company Sdn Bhd, and the absence of exceptional items recorded in 2Q 2025.

“The average group plant utilisation rate was higher at 90 per cent (2Q 2025: 77 per cent) on overall better plant performances despite the planned turnaround activity undertaken at PC Fertiliser Sabah.

For the nine months, Petronas Chemicals recorded a net loss of RM1.38 billion against a net profit of RM656.0 million, while revenue fell by 10 per cent to RM20.88 billion from RM23.21 billion.

Managing director and chief executive officer Mazuin Ismail said performance for the quarter under review reflects the tangible benefits of operational discipline, with overall improved plant performance as it carried out a planned turnaround activity at its fertiliser plant in Sipitang, Sabah.

The shutdown was safely executed and completed as scheduled.

“The group continues to focus on enhancing operational efficiency, cost optimisation initiatives and actively seeks opportunities for value creation,” he said.

Looking ahead, it expects the operating environment to remain challenging in the near term, as the industry continues to contend with ongoing oversupply and subdued demand growth, leading to continued pressure on margins.

The company maintains a conservative outlook on the specialities segment, as end markets such as construction and automotive are facing headwinds due to soft demand.

-- BERNAMA