{"id":330461,"date":"2024-11-18T15:21:53","date_gmt":"2024-11-18T07:21:53","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330461"},"modified":"2024-11-18T15:21:55","modified_gmt":"2024-11-18T07:21:55","slug":"trade-the-news-jgs-to-inject-p17-billion-into-olefins-unit","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-jgs-to-inject-p17-billion-into-olefins-unit\/","title":{"rendered":"Trade the News: JGS to inject P17 billion into olefins unit"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>JG Summit Holdings, Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>JGS<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 42.67<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

JG Summit Holdings, Inc. (JGS) will inject up to P17.1 billion into its petrochemical unit JG Summit Olefins Corp. (JGSOC) to cover maturing obligations, the company said on Thursday.<\/p>\n\n\n\n

The company\u2019s board approved the proposal during a meeting on Nov. 13, JG Summit said in a disclosure to the stock exchange.<\/p>\n\n\n\n

\u201cThis infusion is primarily intended to pay off JGSOC\u2019s maturing obligations. The above capital infusion will be subject to regulatory approvals, if any,\u201d it said.<\/p>\n\n\n\n

The petrochemicals business led by JGSOC widened its nine-month net loss to P11.4 billion amid \u201cunfavorable global market conditions.\u201d<\/p>\n\n\n\n

January-to-September revenue climbed by 53% from a low base in 2023, carried by \u201chigher plant run rates along with the full adoption of the pricing tool from its business-wide transformation program.\u201d<\/p>\n\n\n\n

For the first nine months, JG Summit saw a 16% increase in net income to P17.9 billion, while core profit rose by 39% to P20.3 billion.<\/p>\n\n\n\n

The conglomerate\u2019s revenue improved by 10% to P277 billion due to healthy demand for travel and leisure activities, a higher preference for value food and beverage products, and increased utilization rates in the group\u2019s petrochemical plants.<\/p>\n\n\n\n

In January, JGSOC inaugurated a P150-billion expanded petrochemical facility in Batangas City. JGSOC is engaged in the production of polymer grade ethylene, polymer grade propylene, pyrolysis gasoline, mixed C4, pyrolysis fuel oil, and other products and their by-products. The company markets its petrochemical products to over 30 countries.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330461","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330461"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330461\/revisions"}],"predecessor-version":[{"id":330463,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330461\/revisions\/330463"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}