PETRONAS Chemicals Group Bhd (PetChem) recorded a net loss of RM18 million for the first quarter ended Dec 31, 2025 (1Q26), reversing from a net profit of RM668 million a year ago, mainly due to unfavourable foreign exchange movements.
Despite the loss, group revenue rose 3% year-on-year to RM7.7 billion, driven by higher average prices of urea, methanol, and polyethylene, as well as stronger sales in the specialties segment.
The group’s EBITDA jumped 26% to RM892 million, supported by improved product spreads and lower operational costs. However, the olefins and derivatives (O&D) segment saw a 4% decline in revenue to RM3.5 billion, impacted by earlier utilities disruptions in Kertih and feedstock shortages at Pengerang.
Its MD and CEO Mazuin Ismail said the improved EBITDA reflects strong plant utilisation and operational discipline.
The group remains focused on safe, efficient operations and prudent spending amid ongoing market challenges and industry oversupply. — TMR
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