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Petronas Chemicals reports fall in profits and sales

6:25 AM MST | February 10, 2014 | Deepti Ramesh

Petronas Chemicals (Kuala Lumpur) reports a 49.6% fall in profits for the fourth quarter ended 31 December 2013 compared with the year-ago quarter, to 498 million ringgit ($149 million). Fourth-quarter sales decreased 23.5%, to ringgit3.35 billion, because of lower sales volumes, the company says. For full-year 2013, Petronas reports an 8.6% fall in profits compared with 2012, to ringgit3.50 billion. Full-year sales decreased 8.4%, to ringgit15.20 billion, because of lower volumes. Petronas's olefins and derivatives business reports sales of ringgit2.62...

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