Home / Knowledge / News / Textiles / Titan Chemicals sales volume & product prices drop
Titan Chemicals sales volume & product prices drop
Oct '10
Titan Chemicals Corp. Bhd announced group revenue of RM 4,763 million for the first nine months of 2010, up 18% when compared to the corresponding period of 2009. Earnings per share (EPS) for the period stood at 13.33 sen.

Group sales revenue for the third quarter of 2010 decreased by 8% over the corresponding quarter of 2009 to RM1{403 million. This is mainly due to a 12% decrease in group's average selling price and partially mitigated by 4% increase in sales volume.

The Group profit after tax for the first nine months of 2010 stood at RM224.8 million as compared to RM459.3 million and this mainly due to lower polymer-naphtha margins resulting from higher naphtha costs and lower average polymer prices.

The Group's borrowing was reduced from RM948.4 million as at 31 December 2009 to RM519.4 million as at 30 September 2010.

Profit before tax for the third quarter of 2010 stood at RM7.8 million which was lower by 91 % as compared to RM86.3 million registered in the preceding quarter of 2010. The reduction in' profit was mainly due to lower product price.

Group sales revenue for the third quarter was lower as compared to preceding quarter by 17%.

Group sales volume and product prices dropped by 7% and 1Q% respectively.

The Group borrowing was reduced further from RM703.7million as at 3D June 2010 to RM519.4 'million.

Demand for polymer products for remainder of the year is expected to be sustained. Polyolefins' margin however may be affected by the additional polyolefins supply from new manufacturing plants in the Middle East and China.

The Company has suspended operation on one of its cracker plants for 3D-days scheduled maintenance turnaround in October 2010.

We expect positive contribution from our integrated business for the remainder of 2010.

In 2005, Titan Chemicals was listed on the main board of Bursa Malaysia. It is the first arid largest integrated producer of petrochemicals and polymers in Malaysia. The main products are olefins (ethylene and propylene) and polyolefins (polyethylene and polypropylene). It has ten world-class manufacturing plants located on two integrated industrial sites in Pasir Gudang and Tanjung langsat, Johor. In Indonesia, Titan Chemicals has the largest manufacturing capacity for polyethylene and the second largest manufacturing capacity for Biaxially Oriented Polypropylene (BOPP).

Titan Chemicals Corp. Bhd

Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Lenzing

Textiles | On 25th Jun 2018

Lenzing launches Veocel nonwoven speciality brand

Leading fibre company, the Lenzing Group has unveiled Veocel, the new ...

Interviews View All

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Top executives
Textile industry

GST has levelled the playing field to an extent

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search