- MegaChem’s macro environment is improving. 1H24 revenue of S$65.2m rose 7.4% y-o-y and 4.6% h-o-h.
- To recap, 1H23 saw weak demand and the chemicals industry was in an oversupply situation where customers were destocking. Sequentially, 1H24 saw higher demand from almost all markets that MegaChem supplies to, notably to Europe where revenue increased by 15.7%.
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More on the fire.
- In total, MegaChem has received S$12.3m in insurance compensation, of which S$4.4m was paid out in August. To-date, total expenses incurred by MegaChem due to the fire amount to S$15m and MegaChem reported the insurer has not completed their assessment.
Ex-fire, 1H24 results was within expectations.
- - Read this at SGinvestors.io -
- By geographical breakdown, ASEAN still accounts for the lion’s share of 58%.
Part of the AI future.
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