Petronas companies are good investment vehicles, they are well managed and well capitalized. People think of Petronas as the company that does all the oil drilling but actually the oil drilling operations is called Petronas Carigali which is not listed. Instead they list other subsidiary companies like Petronas Dagangan (retail arm), Petronas Gas (gas processing) and Petronas Chemicals (chemical production).
Petronas Chemicals PetChem is the petroleum chemical arm of Petronas.
The door gift this year is also same as the other Petronas related companies, RM 100 Mesra Card. This Mesra card can be swiped at all Petronas stations for petrol.
The other Chemical companies in Malaysia are Ancom and Lotte Chemicals Titan. I'm not an expert in chemicals but basically chemicals demand is probably also tied to manufacturing demand while manufacturing demand is also tied to the country's economy.
This company receive some bad news when the factory in Pangerang exploded and so the stock price took a bit of beating. Long term prospects is good. Just like all the Petronas group of companies, this company quite well run and well capitalized. The company also had some record net profit 4.95bil -https://www.thestar.com.my/business/business-news/2019/02/26/petchem-posts-record-net-profit-since-listing/.
➡️ Ads
I've written an article on this wonderful app from Petronas called Setel, it's a cashless solution for refueling petrol at Petronas stations. You can use my referral code to sign up Setel and I will get a small token of appreciation from Petronas. My referral code is wv6n.