Kuala lumpur: Lotte Chemical Titan Holding Bhd's fully owned subsidiary, Lotte Chemical Titan (M) Sdn Bhd (LCTM), alongside its Indonesian subsidiary, PT Lotte Chemical Indonesia (LCI), has finalized a contract involving the sale of naphtha valued at US$25.29 million (US$1=RM3.90).

According to BERNAMA News Agency, the transaction, disclosed in a Bursa Malaysia filing today, aims to address operational risks and secure feedstock continuity. This strategic move follows the outbreak of conflict involving the United States, Israel, and Iran on February 28, 2026, which resulted in the closure of the Strait of Hormuz.

Lotte Chemical Titan clarified that this transaction is not expected to significantly impact the company's earnings per share, net assets per share, gearing, share capital, or the substantial shareholders' shareholdings for the financial year ending December 31, 2026.