PetChem 2Q earnings rise 24%

PETRONAS Chemicals managing director and chief executive officer Mazuin Ismail.

KUALA LUMPUR: Petronas Chemicals Group Bhd (PetChem) has stated it is contending with a more complex business landscape and heightened volatility in the chemicals industry marked by a long period of overcapacity and low demand.

Over the next few months, the petrochemicals group expects the olefins and derivatives segment will soften as supply returns following the end of regional shutdowns and despite downstream demand remaining weak.