Upstream plastic producer Chandra Asri (TPIA) has not released yet its financial report for the first nine months to September (9M) of 2019, while its peer Lotte Chemical Titan (FPNI) suffered a 73.8% drop in net profit for said period, to US$.67 million, as revenues fell 16.8% to US$268.6 million. In 9M of 2018, FPNI booked a net profit of US$2.57 million on revenues of US$322 million. Titan suffered from higher costs of raw materials, mostly linked to crude oil prices. Chandra Asri and Titan are market leaders in polyethylene (PE), polypropylene (PP), styrene monomer, etc.
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