Explanation of the corporate events: User Manual
Corporate Updates - Bursa Malaysia
2025-04-01
Category: Corporate Updates
Frequency: Daily
Daily compilation of corporate updates and activities on Bursa Malaysia listed companies.
| Date | Company | Major Action | Recent Events |
|---|---|---|---|
| 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. | 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. | 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. | Cash Call |
| 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. | Restructuring |
| 16 Dec, 2021 | Lotte Chemical Titan Holding Bhd | Award engineering, procurement and construction (EPC) works for the downstream plants and complex facilities of the LOTTE Chemical Indonesia New Ethylene (LINE) project to Korea-based related party LOTTE Engineering & Construction Co Ltd (LEC), estimated to cost US$1.65 billion (RM6.8 billion). | Operation Updates |
| 22 Oct, 2021 | Lotte Chemical Titan Holding Bhd | Lotte Chemical Titan Holding Bhd has decided to proceed with the construction of an RM18 billion integrated petrochemical project in Indonesia. The construction of the Lotte Chemical Indonesia New Ethylene project is expected to commence in 2022 and be completed by 2025. | Expansion Plan |
| 7 Sep, 2020 | Lotte Chemical Titan Holding Bhd | 40% associate, Lotte Chemical USA Corporation's facility in Lake Charles, Louisana was disrupted by Hurricane Laura between 25 Aug 2020 to 31 Aug 2020. | Operation Updates |
| 30 Oct, 2019 | Lotte Chemical Titan | 40% owned associate Lotte Chemical USA Corp (LC USA) has dispose 34.79% stake in its US ethane cracker project for USD 816.47 million to Eagle US 2 LLC, leaving LC USA holding 53.23% of the stake. The transaction is due to a call option exercised by Eagle US 2 LLC. | Disposal |
| 5 Sep, 2019 | Lotte Chemical Titan | Commercial operation of Lotte Chemical USA Corporation Shale Gas Project in Lake Charles, Louisiana, United States, comprising an ethane cracker with a capacity of 1 million tonnes ethylene per annum and a 700 KTA monoethylene glycol (MEG) plant . The company has an effective interest of 35.2% and 40% in this 2 plants respectively | Expansion Plan |
| 9 Aug, 2019 | Lotte Chemical Titan | Dispose 49% stake in PT Lotte Chamical Indonesia to its parent Lotte Chemical Corp for USD 65.4 million | Disposal |
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