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Research by AmInvest
Hold – TP RM5.90

“Light at the end of tunnel for Pengerang plant"

We maintain HOLD on Petronas Chemicals Group (PChem) with a lower fair value (FV) of RM5.90/share (from RM6.22/share), pegged to FY25F EV/EBITDA of 8x - at par to its 5-year average of 8x. Our FV reflects our 4-star ESG rating which accords a 3% premium (Exhibit 11).

Analyst:
Muhammad Nuur Ashman Ab Razak
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$KLSE-PCHEM
Research by AmInvest
Hold – TP RM5.90

“Light at the end of tunnel for Pengerang plant"

We maintain HOLD on Petronas Chemicals Group (PChem) with a lower fair value (FV) of RM5.90/share (from RM6.22/share), pegged to FY25F EV/EBITDA of 8x - at par to its 5-year average of 8x. Our FV reflects our 4-star ESG rating which accords a 3% premium (Exhibit 11).

Analyst:
Muhammad Nuur Ashman Ab Razak
muhammad-nuur-ashman.a@ambankgroup.com

$PCHEM / 5183 (PETRONAS CHEMICALS GROUP BERHAD)