Corporate Updates - Bursa Malaysia

2026-04-15
Category: Corporate Updates
Frequency: Daily

Daily compilation of corporate updates and activities on Bursa Malaysia listed companies.

Explanation of the corporate events: User Manual

Date Company Event Details Sector Event Summary
31 Mar, 2026 Lotte Chemical Titan Holding Bhd Lotte Chemical Titan Holding Bhd is involved in a legal dispute with Petroleum Logistic Services Sdn Bhd (PLS) arising from a 2019 distributorship agreement for chemical products in Malaysia. Under the arrangement, PLS acted as exclusive distributor while customers were required to pay LCTitan directly despite invoicing involvement by both parties. The dispute escalated in 2025 after disagreements over commission rate revisions and payment routing, followed by PLS stopping invoice issuance in July 2025 and the termination of the agreement by LCTitan in August 2025, which took effect in October 2025. LCTitan has since initiated arbitration on March 5, 2026, seeking RM8.02 million in unpaid invoices and a declaration of breach, while PLS responded with a lawsuit on March 19, 2026 against LCTitan, its subsidiary LCTM, and its president. PLS is claiming damages exceeding RM100 million, including RM111.8 million in alleged lost profits based on a 15% margin benchmark or alternatively RM20.57 million using a lower margin estimate, along with RM18.44 million in tax-related indemnities. LCTitan has stated it is disputing all claims and intends to vigorously defend the proceedings, with total potential exposure estimated between RM18 million and RM130 million depending on the outcome of different claims. CHEMICALS Others
15 Oct, 2025 Lotte Chemical Titan Holding Bhd Lotte Chemical Titan has commenced commercial operations at its US$3.95 billion Lotte Chemical Indonesia New Ethylene Project (LINE Project) in Merak, Cilegon, Banten Province. Developed through its subsidiary PT Lotte Chemical Indonesia, the integrated petrochemical facility has an annual production capacity of 1 million tonnes of ethylene and 520,000 tonnes of propylene. The project is a joint venture with Lotte Chemical Titan holding 51% equity and parent company Lotte Chemical Corporation owning 24%. CHEMICALS Operation Updates
7 Jul, 2025 Lotte Chemical Titan Holding Bhd Lotte Chemical Titan Holding Bhd has entered into a 10-year related-party agreement valued at about US$2.99 billion (RM12.69 billion), under which its 92.5%-owned subsidiary PT Lotte Chemical Titan Nusantara will purchase 350,000 tonnes of ethylene annually from its 51%-owned PT Lotte Chemical Indonesia starting September 1, securing a long-term feedstock supply for polyethylene production in Indonesia and integrating its upstream and downstream operations to improve efficiency and support profitability in a currently loss-making business. CHEMICALS Operation Updates
23 May, 2025 Lotte Chemical Titan Holding Bhd Signed a three-year contract to purchase up to 400 kilotonnes (KT) of naphtha annually from Aramco Trading Singapore Pte Ltd, a wholly owned subsidiary of Saudi Aramco. CHEMICALS Operation Updates
8 May, 2025 Lotte Chemical Titan Holding Bhd Secured a 10-year ethylene supply contract worth over RM743.5 million from PT Asahimas Chemical. Under the agreement, its wholly owned Indonesian unit, PT Lotte Chemical Indonesia, will supply about 150,000 tonnes of ethylene annually from July 1, 2025 to June 30, 2035. CHEMICALS Contract Awarded
6 Mar, 2025 Lotte Chemical Titan Holding Bhd Lotte Chemical Titan Holding Bhd announced that its parent company, Lotte Chemical Corporation (LCC), is selling a 25% stake in PT Lotte Chemical Indonesia (LCI), reducing its direct stake in the Lotte Chemical Indonesia New Ethylene Project from 49% to 24%. LC Titan, in which LCC holds a 75.86% stake, owns the remaining 51% of LCI. LCC received a US$462.7 million (RM2.05 billion) offer from a consortium consisting of one securities firm and five special purpose companies set up by other securities firms. Despite holding the right of first refusal under a 2019 shareholders agreement, LC Titan has chosen not to exercise it. CHEMICALS Others
13 Dec, 2024 Lotte Chemical Titan Holdings Bhd Announced the temporary shutdown of one of its plants in the Pasir Gudang Complex in Johor, effective Dec 15, to mitigate losses stemming from a prolonged downturn in the petrochemical industry. The Naphtha Cracker Number 1 plant has a nameplate capacity of 430,000 tonnes per annum. CHEMICALS Downsizing
24 Oct, 2024 LOTTE Chemical Titan Holding Berhad LOTTE Chemical Louisiana LLC, an associate company of LOTTE Chemical Titan Holding Berhad, intends to undertake a corporate restructuring involving a capital contribution in LCLA by two (2) Special Purpose Corporations ("SPCs") (managed by a securities company) via a Price Return Swap contract. CHEMICALS Restructuring
21 Mar, 2023 Lotte Chemical Titan Holding Bhd Lotte Chemical Titan Holding Bhd’s (LCT) subsidiary PT LOTTE Chemical Indonesia (LCI) has entered into a 12-year loan facility of US$2.4 billion (RM10.58 billion) with the Export-Import Bank of Korea, Korea Trade Insurance Corporation and other commercial banks to fund the development works of an integrated petrochemical facility in Indonesia, known as the Lotte Indonesia New Ethylene (LINE) project. LCT holds an effective equity interest of 51% in LCI, the owner of the LINE project, while LOTTE Chemical Corp holds the remaining 49% and is also the guarantor of the loan facility. CHEMICALS Fund Raising
14 Feb, 2022 Lotte Chemical Titan Holding Bhd US associate Lotte Chemical USA Corp (LC USA) has transferred an additional 3.23% of its equity interest in LACC LLC (which owns an ethane cracker plant in the southeastern US state of Louisiana) to Eagle US 2 LLC for US$89.095 million With this, Eagle US’ shareholding in LACC will rise to 50%, with LC USA holding the remaining 50% stake. LCT owns 40% of LC USA with the balance 60% by LCT’s parent, Lotte Chemical Corp. CHEMICALS Restructuring