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2017 is shaping up to be a record year for PChem, says Maybank IB Research

8:43:00 AM
2017 is shaping up to be a record year for PChem, says Maybank IB Research

KUALA LUMPUR (July 11): Maybank IB Research has maintained its “Buy” rating on Petronas Chemicals Group Bhd (Pchem) at RM7.09 and unchanged target price of RM8.10 and said Pchem’s 2Q17 results will be a windfall underpinned by strong average selling price (ASP) and higher volumes on the full operations of SAMUR plant.

In a note July 10, the research house said 2017 is shaping up to be a record year with stronger-than-expected product margin and sturdy global demand.

It said earnings and dividends could potentially surprise positively.

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