Tough for LC Corp to find buyer for LC Titan

TA Research's Ong says that it will be difficult to find a buyer as the petrochemical industry is still plagued by oversupply and poor product spreads.

IT is no secret that South Korean chemical company Lotte Chemical Corp (LC Corp) is mulling disposing of its stakes in loss-making Malaysian unit, Lotte Chemical Titan Holding Bhd (LC Titan).

Selling its stakes in LC Titan is among the options for LC Corp as it has been dragged by the Main Market-listed petrochemicals producer, which posted its seventh consecutive quarterly loss for the quarter ended Dec 31, 2023 (4Q23) mainly due to volatile feedstock costs and slowing demand.