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Lotte Chemical Shares Hit Four-Year Low as Losses Mount Amid Bleak Outlook

Lotte Chemical Titan Holding Bhd shares fell to their lowest level since April 2020 on Thursday, with investors reacting to widening quarterly losses and an uncertain future. The company’s stock dropped by as much as 4.5 sen, or nearly 5%, to 91.5 sen , giving it a market capitalisation of RM2.13 billion . The petrochemical company faces challenges as product spreads remain under pressure due to a global supply glut , primarily from new capacity expansions in China . Analysts at TA Securities noted that Lotte Chemical is likely to stay in the red “over the next few quarters” and maintained a 'sell' rating on the stock. The company has reported quarterly losses since 2QFY2022 and is expected to continue to report losses through this year. Analysts estimate that Lotte Chemical may not return to profitability for another two years , according to Bloomberg consensus data. A significant challenge for Lotte Chemical is the squeeze in spreads between naphtha costs and polymer sel
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Swiggy Sets Price Band for US$1.35 Billion IPO

Indian food delivery giant Swiggy has set a price range of 371 to 390 rupees per share for its highly anticipated US$1.35 billion (RM5.92 billion) domestic initial public offering (IPO), according to a newspaper advertisement released on Wednesday.

This IPO is set to be the second-largest in India this year, following Hyundai India’s US$3.3 billion IPO earlier in the month.



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