From left: PCG managing director/chief executive officer Ir. Mohd Yusri Mohamed Yusof, chairman Datuk Ir. (Dr.) Abdul Rahim Hashim and chief financial officer Mohd Azli Ishak at PCG’s 25th AGM.
KUALA LUMPUR: Petronas Chemicals Group Berhad
(PCG) expects another exciting year, while remaining cautious in view of the potential impacts of high inflation and other uncertainties.
“In 2023, we will continue to deliver operational and commercial excellence, advance our sustainability efforts and explore new growth opportunities.
“We are confident that our vision, strategy, and talents will enable us to navigate the uncertainties while continuing to create sustainable value for all our stakeholders,” managing director/chief executive officer Ir. Mohd Yusri Mohamed Yusof said in a statement.
According to PCG, the group enhanced its commitment towards sustainability in 2022 and surpassed its short-term target to reduce its Scope 1 and Scope 2 GHG emissions by 100,000 tonne carbon dioxide equivalent (tCO2e) by 2024.
Through various efforts such as process optimisation and catalyst upgrades, PCG has achieved a cumulative reduction of more than 108,000 tCO2e thus far.
In addition, PCG said Perstorp Group’s strength in sustainable solutions would accelerate its value creation and the company’s sustainability journey. PCG acquired Sweden-based Perstorp in 2022.
“The addition of Perstorp Group marks a major milestone, which will see over 130 new product offerings, seven manufacturing sites globally and more than 1,500 new members coming into the PCG family. PCG has also established a new specialty chemicals division to manage and steer critical strategic priorities supporting PCG’s long-term aspirations within this space,” Mohd Yusri said.
PCG closed 2022 with record revenue of RM29bil and profit after tax of RM6.3bil.
“We are pleased to have delivered a solid performance despite numerous challenges. Guided by our two-pronged strategy to sustain our strength in basic petrochemicals and selectively diversifying into specialties, we look forward to capturing new revenue streams and strengthening our position in the region,” Mohd Yusri said.
