Petronas Chemicals closes FY24 on lower note amidst challenging market conditions

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Petronas Chemicals closes FY24 on lower note amidst challenging market conditions

by DayakDaily Team KUCHING, Feb 21: Petronas Chemicals Group Bhd’s (PCG) financial year 2024 (FY24) came under pressure due to challenging market conditions. In a press release today, it said, its profitability came under pressure with its earnings before interest, tax, depreciation, and amortisation (EBITDA) down seven per cent year-on-year (y-o-y) to RM3.5 billion due to lower spreads and higher operating cost. It also reported that its profit…