Global petrochemical industry outlook to affect PetChem in H2


MaybankIB Research has lowered its earnings estimates for PetChem by 18% to 24% for 2023-2024. — Bloomberg

PETALING JAYA: The outlook remains subdued for Petronas Chemicals Group Bhd (PetChem) amid the persistent headwinds in the global petrochemical industry.

While there are hopes the petrochemical giant could see a recovery in earnings next year, most analysts expect the second half of 2023 (2H23) to remain soft for the group, which had underperformed market expectations in 1H23.

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