PETALING JAYA: Weak third quarter results, which were dragged down by lower product prices, has led to a downgrade of Petronas Chemicals Group Bhd (PetChem) by Affin Hwang Capital Research.
The research house downgraded the stock to “sell” from “hold, ” citing further downside risks from potential start-up losses in the Refinery and Petrochemical Integrated Development (Rapid) plant in Pengerang.
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