January 13, 2022

Petronas Achieves RM9 Per Unit In 2 Years

 He went up like the price of oil and hoped to stay.

Petronas Chemicals Group Bhd's share price rose 18 sen or 2.02% to RM9.08 over 2 years on Wednesday 12 January due to higher crude oil prices and after the Employees Provident Fund (EPF) increased its stake in the company.

The last time Petronas' share price reached RM9.08 was on April 3, 2019.

Meanwhile, in the morning trading session on Thursday, January 13, its shares rose 6 sen at RM9.06 after closing at RM9 yesterday.

The rise in the stock price is likely to take cue from the significant overnight rise in crude oil prices before the commodity price continues to surge.

Meanwhile, the Bursa filing by Petronas Chemicals on Tuesday, January 11 stated that the EPF had increased its stake by 6.806% on Thursday, January 6 further boosting sentiment on shares of Petronas Chemicals.

The EPF made a net purchase of 580,000 shares of Petronas Chemicals on January 6 after buying about 1.43 million shares and selling about 850,000 shares at the time.