PetChem's 3Q earnings fall to RM424mil amid low demand

KUALA LUMPUR: Shrinking sales volumes and margins stemming from weak demand in the global manufacturing sector took a bite out of Petronas Chemicals Group Bhd's revenue in the third quarter of 2023.

In a statement, the petrochemicals producer said its specialities segment, which contributed 22% to the group's revenue, saw continued destocking activities in the face of fierce competition, particularly in Europe.