Lotte Chemical Titan Reduces 1Q Net Loss To RM122.7 Mln

KUALA LUMPUR, May 7 (Bernama) -- Polyolefins producer Lotte Chemical Titan Holdings Bhd (LCT) reduced its net loss to RM122.70 million in the first quarter ended March 31, 2026 (1Q FY2026) from RM125.67 million in the year-ago quarter.

Revenue surged by 70 per cent to RM2.53 billion from RM1.49 billion previously, driven by contribution from the Lotte Chemical Indonesia New Ethylene (LINE) project which began commercial operations in October 2025.

“Average plant utilisation increased to 61 per cent in 1Q FY2026, contributed by the production of the LINE project. However, further gains were partially offset by the weakening of the US dollar against the ringgit as well as lower average product prices,” the company said in a filing with Bursa Malaysia today.

LCT said the olefins and derivative products segment’s revenue grew by RM1.01 billion, from RM361.6 million in 1Q FY2025 to RM1.37 billion in the quarter under review, primarily driven by sales contribution from the LINE project.

 In a separate statement, LCT president and chief executive officer Jang Seon Pyo said the recent geopolitical tensions in West Asia, particularly the Iran war, have affected the supply-demand dynamics in the petrochemical industry.

As a result, he said, the global business environment remains volatile and uncertain.

“Therefore, we will continue to closely monitor the prevailing geopolitical developments and adapt our operations to meet business objectives and stakeholders’ expectations

“With measured outlooks on regional gross domestic product growth and cautious operating rate projections, we will continue to navigate the current cycle with prudence,” he said.

He added that LCT remains committed on maintaining its position in key regional markets, especially in Malaysia and Indonesia as well as across Southeast Asia.

-- BERNAMA