Petronas Chemicals Group Bhd (PCG), the leading integrated petrochemicals producer in Malaysia, is expected to see continued demand for its products from China, India and the Asia Pacific.PCG produces a diversified range of petrochemical products from its olefins and derivatives segment as well as fertilisers and methanol.
In a research note today, OSK Research said PCG's utilisation rate for both segments stood at 86 per cent and 82 per cent respectively, for the fourth quarter of financial year 2011.
Thus, it added, the PCG management is targeting for the utilisation rate of its plants to hit 90 per cent.
OSK said in addition, PCG also expects the feasibility study on its Refinery and Petrochemical Integrated Development Project to be completed by year-end.
The research house has maintained a "buy" call on PCG's stocks at RM9.28. -- Bernama