Corporate Name : LOTTE CHEMICAL TITAN HOLDING BERHAD
Symbol & Code : LCTITAN (5284)
Industry : Industrial Products
LOTTE CHEMICAL TITAN HOLDING BERHAD (“The Company” or “LCTH”)
ANNOUNCEMENT ON LONG TERM PURCHASE OF RAW MATERIAL FROM EXISTING SUPPLIER.
The Board of Directors of LCTH wishes to announce that Lotte Chemical Titan (M)
Sdn Bhd, (“LCTM”), a wholly owned subsidiary of LCTH, had on 23 January 2018
signed a three-year sales contract with the effective date from 1 January 2018 to 31
December 2020 (“the Sales Contract”) with Abu Dhabi National Oil Company
(“ADNOC”) for the purchase of Refined Products and Paraffinic Naphtha (Ruwais)
(“Naphtha”) from ADNOC.
ADNOC is a Major Feedstock Supplier of Naphtha to LCTM and in the past, Naphtha
had been secured from ADNOC on one-year term contracts.
Under the new Sales Contract, ADNOC will continue to supply Naphtha to LCTM
over a three-year term contract.
The salient terms of the Sales Contract are as follows:
i) The tenure of the Contract is 3 years from 1 January 2018 to 31 December 2020.
ii) The pricing is based on market price at loading month.
iii) The estimated quantity is between 600,000MT to 1,000,000MT per year.
The Sales Contract WILL NOT have any effect on the share capital and shareholding
structure of LCTH.