Malaysia’s Petronas increases payout to government on strong Q2 profit
Petronas, a key contributor to the country’s revenue, will increase its dividend to the Malaysian government to MYR16 billion ($3.745 billion) for the year, which is higher than a previously committed MYR13 billion ($3.042 billion).
The energy firm’s second-quarter profit more than tripled to MYR7 billion ($1.638 billion) from MYR1.7 billion ($398 million) in the same period last year, according to a company release.
Despite stronger results, the company prefers to be cautious about the outlook of the remaining part of this year as well as its overall year-end performance given the volatility of the energy complex.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s PP, PE markets open 2021 with supply-driven hikes
- Vietnam’s local homo-PP market retreats for 3rd week on subdued demand
- China’s PE demand wavers amid controls on environmental pollution and electricity use
- January trend takes shape in Egypt’s PP, PE markets
- Stats: Turkey’s 2020 polymer imports set to beat the 2017 record
- China PP, PE markets close 2020 on a soft note; SE Asia feels pressure
- Stats: China’s total PE imports down for 2nd month in November
- Egypt PET markets poised to end the year on a strong note
- China ABS prices move below SEA after 8 months
- Sentiment in Turkey’s PP, PE markets defies faltering in China