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MarketScreener Homepage  >  Equities  >  Taiwan Stock Exchange  >  Formosa Petrochemical Corporation    6505   TW0006505001

FORMOSA PETROCHEMICAL CORPORATION

(6505)
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Formosa Petrochemical : Taiwan's Formosa buys naphtha at lowest price since December

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08/29/2019 | 08:00am EDT

SINGAPORE (Reuters) - Taiwan's Formosa Petrochemical Corp has finalised a naphtha purchase at discounts of $4 to $5 a tonne to its own price formula on a cost and freight (C&F) basis, the lowest price it has paid since December, industry sources said on Thursday.

Asia's top naphtha importer concluded the tender discussions to buy about 100,000 tonnes of open-specification naphtha for arrival in the first half of October at Mailiao, where it operates three naphtha crackers with total capacity of 2.93 million tonnes of ethylene per year.

Although naphtha demand was stronger this week, with several buyers emerging to buy October cargoes, overall demand was weak and supplies were abundant, the sources added.

Cracker maintenance in Taiwan and Indonesia, which started this month and is expected to last into September, have weighed on overall demand and spot prices, the sources said.[O/ACRACKER] [O/NASIANAP]

(Reporting by Seng Li Peng; Editing by David Goodman)

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Financials (TWD)
Sales 2020 537 B
EBIT 2020 33 882 M
Net income 2020 34 320 M
Finance 2020 68 642 M
Yield 2020 3,73%
P/E ratio 2020 21,2x
P/E ratio 2021 17,3x
EV / Sales2020 1,25x
EV / Sales2021 1,08x
Capitalization 743 B
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Technical analysis trends FORMOSA PETROCHEMICAL CORP
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Mean consensus UNDERPERFORM
Number of Analysts 13
Average target price 82,87  TWD
Last Close Price 78,00  TWD
Spread / Highest target 47,4%
Spread / Average Target 6,25%
Spread / Lowest Target -25,6%
EPS Revisions
Managers
NameTitle
Ming Tsao General Manager & Director
Pao Lang Chen Chairman
Chien Tang Tsai Chief Financial Officer & Deputy Spokesman
Yu Cheng Independent Director
Wen Yuan Wang Executive Director
Sector and Competitors
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