Equity Analysis /
Thailand

TH : PTT Global Chemical - Better days still some distance away

    CGS-CIMB
    25 May 2022
    Published by

    PTTGC’s strong market GRM of US$15/bbl should be offset by hedge loss of US$20/bbl in 2Q22F. We believe PTTGC’s chemical EBITDA will remain weak in 2H22F.