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PChem rises 1.31% on projection of a record 2017

Mimi Sabreena 10:38:00 AM Informasi

KUALA LUMPUR (July 11): Petronas Chemicals Group Bhd (Pchem) rose 1.31% in early trade today after Maybank IB Research maintained its “Buy” rating on 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.

At 9.24am, PChem rose 9 sen to RM6.98 with 119,700 shares traded.

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.

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