KUALA LUMPUR: Petronas Chemicals Group Bhd’s (PCG) shares advanced after the annual general meeting (AGM), reflecting investors’ confidence on the Malaysia’s leading integrated chemical producer future outlook.
Contributing 0.836 of-a-point to the composite index as at 3 pm, PCG’s shares on Bursa Malaysia added six sen to RM5.70 with 538,500 shares traded.
PCG held its AGM here today to present its performance for financial year ended 31 December 2014 to shareholders and sent a message that the company is set to accelerate its growth momentum, PSC said in a statement. Despite the volatile and fast-changing market environment, PCG’s earnings before interest, taxes, depreciation and amortization (EBITDA) margin remained strong at 32 per cent in the year.
As a result, the board declared interim dividends for financial year 2014 amounted to RM1.28 billion.
Commenting on the overall performance of the group, chairman Datuk Wan Zulkiflee Wan Ariffin said PCG’s solid financial foundation demonstrated the company’s commitment to deliver strong value-added returns to its stakeholders over the years.
“To strengthen our position to become the preferred chemical company providing innovative customer solutions, we actively focus on value creation by strengthening our petrochemical basics and diversifying into selective derivatives, specialties and solutions.
“This two-prong strategy for growth will increase our volume-play advantage as a competitive regional player while harnessing value-play from higher margin products and enhancing resilience against market volatility,” he said. – Bernama