Petronas Chemicals Group Bhd (PetChem) recorded its highest net loss since listing, at RM1.08 billion for the second quarter ended June 30, 2025, compared to a profit of RM777 million in the same period last year.
The decline was driven by a decline in product distribution, unrealized foreign exchange losses of RM446 million, and asset impairments of RM431 million, mainly at its Swedish unit, Perstorp Holding AB.
Revenue also fell 16% to RM6.44 billion. For the first half of this year, PetChem recorded a cumulative loss of RM1.1 billion, compared to a profit of RM1.44 billion in the same period last year.
Despite recording a slump in performance, the board of directors remains committed to declaring the first interim dividend of three sen per share, with the payment date on September 10.
To cope with the ongoing challenging market environment, PetChem is implementing portfolio reviews, cost optimization and organizational restructuring to enhance the company's competitiveness.
