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Petronas Chem rises on CIMB estimates


Petronas Chemicals Group Bhd climbed to a record in Kuala Lumpur trading after CIMB Investment Bank Bhd raised its share estimate on its “superior” growth prospects, bolstered by higher margins.

The stock climbed 1.6 per cent to RM6.94 at 3:41 p.m. The stock has risen 26 per cent this quarter, set to be the second-biggest gainer on the benchmark stock index. The share estimate was raised to RM10 from RM7.25, Terence Wong, an analyst at CIMB, wrote in a report today. -- Bloomberg

Petronas Q3 profit up on unit IPOs

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) posted a RM10.1bil jump in net profit for its third quarter to RM23.7bil owing largely to proceeds from the listing of two subsidiaries on Bursa Malaysia but indicated high annual dividends to the Government will need to be cut in the future.

Petronas Chem rises on CIMB estimates


Petronas Chemicals Group Bhd climbed to a record in Kuala Lumpur trading after CIMB Investment Bank Bhd raised its share estimate on its “superior” growth prospects, bolstered by higher margins.

The stock climbed 1.6 per cent to RM6.94 at 3:41 p.m. The stock has risen 26 per cent this quarter, set to be the second-biggest gainer on the benchmark stock index. The share estimate was raised to RM10 from RM7.25, Terence Wong, an analyst at CIMB, wrote in a report today. -- Bloomberg

Petronas Q3 profit up on unit IPOs

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) posted a RM10.1bil jump in net profit for its third quarter to RM23.7bil owing largely to proceeds from the listing of two subsidiaries on Bursa Malaysia but indicated high annual dividends to the Government will need to be cut in the future.