Hengyuan’s earnings likely to be impacted

PETALING JAYA: Hengyuan Refining Company Bhd expects its earnings to be affected by the unplanned shutdown of its long residue catalytic cracking unit (LRCCU).

Following a leakage found at the carbon monoxide boiler to the LRCCU, Hengyuan said it will shut down the LRCCU for inspection and repair.

“The refinery production will be affected during the shutdown period as a result of the above incident, meaning that the revenue earned by the company during the shutdown period will be reduced.

“Consequently, the company will put in place mitigating measures to ensure there will be no major disruption of production supply to its customers during the shutdown period,” the company said in a filing with Bursa Malaysia yesterday.

Given the current uncertainties, Hengyuan said the financial impact of this incident cannot be reliably estimated at this point, but is expected to be material for the company.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

CLMT cautiously optimistic of its 2024 performance
AME Elite and AME REIT announce RM119.5mil industrial properties transaction in Iskandar Malaysia
Malaysian semiconductor exports to reach RM1.2 trillion by 2030 - MSIA
Ringgit closes slightly higher against the greenback
BOS Wealth Management partners with OCBC Malaysia to expand market reach
Korea’s OCI said to weigh RM1.5bil IPO for Malaysia unit
BAT reports lower 2Q24 earnings
AAX carries carries 880,265 passengers in 2Q24, surges 42% YoY
Moody's Ratings: Malaysia to benefit from data centre demand spillover
MN Holdings bags RM136mil substation engineering contract

Others Also Read