Lotte Chemical weighs strategic options for Malaysia, Indonesia petrochemical assets

Kuala Lumpur – Lotte Chemical Corp. is considering various strategic options for its Malaysian-listed petrochemical subsidiary Lotte Chemical Titan Holding Bhd (LCT), but has not made any decision, according to a 19 Aug stock exchange filing.

LCT, which among other products produces butadiene, said it was responding to press reports concerning a proposed sale of Lotte Chemical Corp.’s interest in the company.

“After making due enquiry, we understand that LCC is considering various strategic measures related to the company without making any decision thus far,” LCT said in the filing.

The clarification follows an 18 Aug report by Korean and Malaysian press claiming that LCC was planning to sell LCT as well as a stake in its Indonesian operations.

LCT said it would make the necessary announcement should there be any further update.