PETRONAS announced strong earnings for the first half of 2017, contributed by higher average realised prices, better margins and boosted by the on-going transformation initiatives to reduce cost and increase efficiency.
The Group’s revenue grew to RM108.1 billion, up 15 per cent from RM93.7 billion in the first half of 2016, benefitting from the upward trend of key benchmark prices and foreign exchange rate, but was partially offset by lower sales volume.
Hengyuan Refining Company Bhd (HRC), formerly known as Shell Refining Company (Federation of Malaya) Bhd, held a ground-breaking ceremony today to mark the commencement of construction work that will enable the refinery to produce Euro4M grade motor gasoline.
The USD135 million (approximately RM580 million) refinery upgrade will involve the installation of an integrated complex that is designed to desulphurise the full range Cat Cracked Gasoline (CCG) produced by the Long Residue Catalytic Cracking Unit (LRCCU). This will facilitate the production of gasoline that meets the Euro4M specification, which requires sulfur content to be less than 50 parts per million in volume.
CCM Duopharma Biotech Bhd (CCMD) recorded a 51.5 percent growth in revenue for the first six months ended 30 June 2017 (H1 2017) to RM240.36 million from RM158.61 million in the corresponding period last year while profit before tax (PBT) also increased 40.2 percent to RM24.76 million from RM17.66 million in the corresponding period in 2016.
CCMD’s significant rise in revenue and PBT for H1 2017 was driven by contributions from its supply of renal and endocrine products and increased demand from public health sector via tenders.