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Lotte Chemical expects tough times to remain

Lotte Chemical expects tough times to remain

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“A protracted Russia-Ukraine crisis has caused high volatility in crude oil prices, leading to volatile naphtha costs for our operations,” it said in a filing with Bursa Malaysia. (File pic shows the Lotte Chemical Plant in Johor.)

PETALING JAYA: Lotte Chemical Titan Holding Bhd, which posted a net loss of RM145.92mil for the second quarter ended June 30, 2022, expects the business environment to remain challenging in the near future.

“A protracted Russia-Ukraine crisis has caused high volatility in crude oil prices, leading to volatile naphtha costs for our operations,” it said in a filing with Bursa Malaysia.

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Revenue in the second quarter rose to RM2.82bil from RM2.54bil previously.

The company reported a loss per share of 6.41 sen, compared with an earnings per share of 16.81 sen in the previous corresponding period.


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