Kuala lumpur: Petronas Chemicals Group Bhd (PCG) reported a reduced net loss of RM289 million for the third quarter ending September 30, 2025, compared to a RM789 million net loss in the same period last year. This improvement was attributed to various strategic measures and operational efficiencies implemented by the company.

According to BERNAMA News Agency, the company’s revenue experienced a decline of 15 percent, dropping to RM6.78 billion from RM7.98 billion. This decrease was primarily due to lower sales volumes, reduced product prices, and the strengthening of the ringgit against the US dollar.

The company highlighted that the narrowed net loss was influenced by a lower foreign exchange impact related to the revaluation of a shareholder’s loan to Pengerang Petrochemical Company Sdn Bhd. Additionally, there were no exceptional items recorded in the second quarter of 2025, which also contributed to the improved financial performance.

Petronas Chemicals recorded a higher average group plant utilisation rate of 90 percent, compared to 77 percent in the previous quarter, demonstrating better plant performance despite a planned turnaround activity at PC Fertiliser Sabah. For the first nine months of the year, the company faced a net loss of RM1.38 billion, contrasting with a net profit of RM656.0 million in the previous year. Revenue for this period fell by 10 percent to RM20.88 billion from RM23.21 billion.

Mazuin Ismail, managing director and chief executive officer, noted that the quarter’s performance reflects the benefits of operational discipline and improved plant performance, particularly following the scheduled turnaround activity at the fertiliser plant in Sipitang, Sabah. The shutdown was completed safely and on schedule.

The company remains focused on enhancing operational efficiency and cost optimisation while actively seeking opportunities for value creation. However, it anticipates that the operating environment will remain challenging in the near term due to ongoing oversupply and subdued demand growth, which are expected to continue putting pressure on margins.

Petronas Chemicals maintains a cautious outlook on the specialities segment as end markets, including construction and automotive, confront hurdles from soft demand.