Lotte Chemical Titan Holding Bhd has clarified that its parent company, Lotte Chemical Corporation (LCC), is considering various strategic measures concerning the Malaysian-listed petrochemical group, but has not made any decision on a proposed sale of its interest.
The clarification follows media reports suggesting that LCC was looking to resume the sale of its Malaysian and Indonesian petrochemical assets.
Lotte Chemical Titan referred to an article published by The Korea Economic Daily on Aug 17 titled “Lotte resumes sale of Malaysian, Indonesian petrochemical assets”.
The company said it had made due enquiries regarding the reports and understood that LCC was currently considering various strategic measures related to the company.
“LCC is considering various strategic measures related to the Company without making any decision thus far,” Lotte Chemical Titan said in its Bursa Malaysia filing.
The clarification comes amid reports of potential portfolio restructuring by LCC, although there is currently no confirmed transaction involving its stake in Lotte Chemical Titan.
