Kuala lumpur: Lotte Chemical Titan Holding Bhd (LCT) has reported a reduction in its net loss to RM173.09 million in the second quarter of its financial year ending December 31, 2025 (2Q FY2025), compared to a net loss of RM248.88 million in the same period of the previous year.
According to BERNAMA News Agency, the company announced in a filing with Bursa Malaysia that its revenue decreased by 19 percent to RM1.43 billion from RM1.78 billion in 2Q FY2024. This decline was mainly due to weaker average selling prices and the performance of the US dollar against the ringgit. The average plant utilisation in 2Q FY2025 was reported at 46 percent, slightly lower than the 47 percent recorded in 2Q FY2024.
The group’s loss before tax decreased by 42 percent to RM191 million in 2Q 2025, primarily due to margin improvement. The reduction was further supported by lower distribution and administrative expenses, along with a one-off insurance claim related to a business interruption that occurred in 2022.
For the first half of the year, ending June 30, 2025, LCT recorded a net loss of RM298.76 million, compared to a net loss of RM426.91 million in the previous year. Revenue for the first six months fell to RM2.93 billion from RM3.69 billion in the same period last year.
Looking ahead, LCT President and CEO Jang Seon Pyo stated that the global business environment is expected to remain volatile in the near future. He highlighted ongoing geopolitical tensions, such as the Russia-Ukraine war and unrest in the Middle East, as risks impacting the market. Additionally, the US reciprocal tariff is emerging as a factor reshaping global trade dynamics.
A persistent oversupply of petrochemical products continues to affect supply and demand dynamics both regionally and globally. Despite these challenges, LCT remains committed to maintaining its position in key regional markets, particularly in Malaysia, Indonesia, and across Southeast Asia. The company will continue to navigate the current cycle with prudence, considering measured outlooks on regional GDP growth and operating rate projections.
Furthermore, Jang noted that the Lotte Chemical Indonesia New Ethylene (LINE) Project in Merak, Indonesia, is on track to commence commercial operations in the second half of 2025. The management will closely monitor market dynamics and provide updates on the project’s progress as necessary. LCT is a subsidiary of Lotte Chemical Corporation under the Lotte Group.