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Chemical Week Magazine :: Business & Finance :: Asia/Pacific

Petronas Chemicals reports rise in profits

9:46 AM MDT | May 31, 2013 | —Deepti Ramesh

Petronas Chemicals (Kuala Lumpur) reports a 10.2% rise in profits for the first quarter of 2013 compared with the year-ago quarter, to 1.23 billion ringgit ($406 million), mainly due to improved product margins. First-quarter sales increased 1.5%, to ringgit4.45 billion, because of higher selling prices, the company says. The first quarter of 2013 featured more favorable market conditions—firmer product prices and improved margins, since feedstock costs did not rise in tandem with prices—for the petrochemical industry, the company says. Operational...

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