Diverging fortunes of Hengyuan and Petron Malaysia
KUALA LUMPUR: Two Port Dickson-based refiners are seeing sharply diverging fortunes on Bursa Malaysia, with Hengyuan Refining Co Bhd outperforming Petron Malaysia Refining & Marketing Bhd as investors weigh their ability to benefit from elevated refining margins.
Port Dickson-based refiners Hengyuan Refining Co Bhd and Petron Malaysia Refining & Marketing Bhd are experiencing significantly different fortunes on Bursa Malaysia. Hengyuan's shares have surged over four times this year, outperforming Petron's stock, which has risen only slightly. This divergence is primarily due to Hengyuan's ability to benefit from elevated refining margins, while Petron faces disruptions from the collapse of its product jetty and larger non-refining business operations.
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