KUALA LUMPUR: Petronas Chemicals Group Bhd (PCG) remains cautious in view of the rising oil and commodity prices as well as geopolitical tensions that may impact the global economy.
"As we transition to an endemic phase this year, we remain cautious in view of the rising oil and commodity prices as well as geopolitical tensions that may impact the global economy. We will continue our operational and commercial excellence, cost optimisation efforts and pursue growth opportunities in 2022.
“We are confident that our solid fundamentals will enable us to maximise opportunities while navigating uncertainties in a post-pandemic world, while continuing to create sustainable value for all our stakeholders,” PCG managing director/chief executive officer Ir. Mohd Yusri Mohamed Yusof said in a statement.
PCG closed 2021 with the highest net profit of RM7.3bil since its incorporation.
“We also declared the highest dividends per share and payout ratio for FY21 since our listing in 2010; a total dividend of 56 sen, which includes a special dividend of 10 sen per share in conjunction with PCG’s 10th anniversary.
“The total dividend amounting to RM4.5bil represents a dividend payout ratio of 61% of profit after tax and non-controlling interests (PATANCI), above our dividend policy of 50% PATANCI,” Mohd Yusri said.
PCG said it continues to emphasise on plant operations and safety, sustaining best-in-class plant utilisation rate at 93%, recorded production volume of 10.4 million tonnes per annum (tpa) and maintained an excellent safety record in 2021.
Mohd Yusri said PCG had been making good progress in embedding sustainability at the core of everything they do.
“We have transitioned to a broader scope aligned to economic, environmental and social pillars underpinned by strong governance,” he said.
In 2021, PCG set up its Net-Zero Carbon Emissions (NZCE) 2050 Roadmap suited to the chemical industry to guide its longer-term strategic decision-making on climate impact, business resilience, as well as opportunities from climate change and circular economy.
Under the roadmap, which is also aligned to Petronas’ net-zero aspirations, PCG also set new carbon-reduction targets: a 20% reduction by 2030, another 60% by 2040 and finally, net-zero by 2050.
On the social front, PCG continues to invest in employees and community well-being through initiatives that have benefitted more than 300,000 individuals.