0120 GMT - Petronas Chemicals' third-quarter earnings are likely to fall 10%-15% from the second quarter due to the stronger ringgit this quarter, Citi analysts said in a note. But they added that the currency's recent weakness against the dollar could limit further declines in fourth-quarter earnings. Fourth-quarter earnings are also likely to improve due to a recovery in the company's fertilizer and methanol segments, they said. The analysts expect global urea supplies to tighten by the first half of next year, driven by likely production cuts in the Middle East and North Africa and higher import demand in India. Demand for urea and ammonia accounts for about 40% of Petronas Chemicals' earnings before interest, tax, depreciation and amortization, providing a good foundation for growth, they added. Citi upgraded the stock to buy from neutral and maintained its target price at 6.20 ringgit. The stock rose 0.6% to 5.03 ringgit. (yingxian.wong@wsj.com)
103233050 : Can someone translate it please
Wcm1888 OP : PCHEM (5183.BMS)
36%
...
1 minute
4.910
-1.80%
0120 GMT - Petronas Chemicals' third-quarter earnings are likely to fall 10%-15% from the second quarter due to the stronger ringgit this quarter, Citi analysts said in a note. But they added that the currency's recent weakness against the dollar could limit further declines in fourth-quarter earnings. Fourth-quarter earnings are also likely to improve due to a recovery in the company's fertilizer and methanol segments, they said. The analysts expect global urea supplies to tighten by the first half of next year, driven by likely production cuts in the Middle East and North Africa and higher import demand in India. Demand for urea and ammonia accounts for about 40% of Petronas Chemicals' earnings before interest, tax, depreciation and amortization, providing a good foundation for growth, they added. Citi upgraded the stock to buy from neutral and maintained its target price at 6.20 ringgit. The stock rose 0.6% to 5.03 ringgit. (yingxian.wong@wsj.com)