PETRONAS Chemicals remains cautious over outlook

TheStar Mon, May 29, 2023 01:00pm - 4 months View Original

KUALA LUMPUR: Petronas Chemicals Group Bhd said it has yet to see a meaningful recovery, despite some uplift in demand from China, post-Chinese New year, for selected chemicals.

According to managing director and CEO Mohd Yusri Mohamed Yusof, the overall chemicals sector remains cautious given the volatile energy prices although there have been some positive movements in selected regions in the first quarter.

He added that operating costs have increased due to the effects of inflation on gas and fuel giving rise to energy and utilities costs, further narrowing product spreads and adding pressure on margins.

However, he added that gas and utilities costs are expected to ease in the coming quarters.


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