Lotte Chemical Titan Unit, Indonesian Subsidiary In US$25.29 Mln Naphtha Deal

KUALA LUMPUR, April 20 (Bernama) -- Lotte Chemical Titan Holding Bhd’s wholly owned subsidiary, Lotte Chemical Titan (M) Sdn Bhd (LCTM), and its Indonesian subsidiary, PT Lotte Chemical Indonesia (LCI), have entered into a contract for the sale of naphtha worth US$25.29 million (US$1=RM3.90).

In a Bursa Malaysia filing today, Lotte Chemical Titan said LCTM has entered into the transaction with LCI to mitigate operational risk and ensure feedstock continuity following the outbreak of the war involving the United States, Israel, and Iran on Feb 28, 2026 and the closure of the Strait of Hormuz. 

“The transaction will not have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholdings of the group for the financial year ending Dec 31, 2026,” it said.

-- BERNAMA