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4-Traders Homepage  >  Equities  >  BURSA MALAYSIA  >  PETRONAS CHEMICALS GROUP BHD    PCGB   MYL5183OO008

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PETRONAS CHEMICALS BHD : Saudi Aramco to Buy 50% Stake in Malaysian Polymers Producer

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10/02/2017 | 04:39am CEST
   By Gaurav Raghuvanshi 
 

Saudi Arabian Oil Co. has signed a deal to buy a 50% equity stake in a polymers-producing unit of Malaysia's Petronas Chemicals Group Bhd. (5183.KU) for about $900 million.

The sale will allow the Malaysian company, PRPC Polymers Sdn. Bhd., to share the project and operational risks with Saudi Aramco, which will supply up to 70% of the crude oil the plant will use, Petronas Chemicals said in a statement to Bursa Malaysia on Monday.

The Malaysian company said the deal will allow it to leverage on Saudi Aramco's experiences in execution, implementation and operation of similar large scale and integrated petrochemical projects, as well as free up capital for other projects.

Earlier this year, Saudi Aramco said it will invest $7 billion for a 50% stake in a refinery and petrochemicals project in southern Malaysian state of Johor being built by Petroliam Nasional Bhd., Malaysia's state oil company.

PRPC's polymers project is a part of the refinery and cracker project in the fishing town of Pengerang bordering Singapore.

Write to Gaurav Raghuvanshi at [email protected]

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News from SeekingAlpha
2015 GLOBAL X SOUTHEAST ASIA ETF : Un-Emerging Market
Financials ( MYR)
Sales 2017 16 434 M
EBIT 2017 4 575 M
Net income 2017 3 769 M
Finance 2017 7 391 M
Yield 2017 2,94%
P/E ratio 2017 16,35
P/E ratio 2018 16,22
EV / Sales 2017 3,22x
EV / Sales 2018 3,16x
Capitalization 60 320 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 7,55  MYR
Spread / Average Target 0,12%
EPS Revisions
Managers
NameTitle
Sazali bin Hamzah President, CEO & Executive Director
Mohamad Arif bin Mahmood Chairman
Rashidah binti Alias Chief Financial Officer
Ross Forrest Gilmour Chief Innovation & Technology Officer
Vimala V. R. Menon Senior Independent Non-Executive Director
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