KUALA LUMPUR, May 21 (Xinhua) -- Petronas Chemicals Group Berhad, the chemicals arm of Petroliam Nasional Berhad, said Thursday it has returned to profit in the first quarter ended March 31, 2026, supported by favorable foreign exchange movements from the specialties segment and gains on disposal of investments.
The company said in a Bursa Malaysia filing that it posted a net profit of 401 million ringgit (101 million U.S. dollars) for the quarter, compared with a net loss of 18 million ringgit a year earlier.
Revenue, however, fell to 7.02 billion ringgit, although the decline was partially cushioned by higher average prices for commodity products and stronger sales performance in its specialty chemicals segment.
"The Middle East conflict reshaped our operating landscape with remarkable speed, creating a more volatile and complex environment. It also underscored the vulnerability of the industry supply chain, given the region's strategic importance in global feedstock and chemicals supply," said Mazuin Ismail, Petronas Chemicals managing director and chief executive officer.
He said the operating environment is expected to remain volatile amid ongoing geopolitical tensions, supply chain disruptions and softer downstream demand. (1 ringgit equals 0.25 U.S. dollar) ■