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.

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