23 March 2010 05:24 [Source: ICIS news]
SINGAPORE (ICIS news)--Taiwan’s Formosa Petrochemical Corp is expected to post a significant rise in its earnings for the first half of 2010 on increased demand from China and the Middle East, analysts said on Tuesday.
Severe cold weather conditions in China in the past few months had reduced the country’s output, forcing it to import most petrochemical products, said Eli Cheng, a research associate at brokerage house Yuanta Securities in Taiwan.
The continued low output of petrochemical firms had boosted Chinese demand for ?xml:namespace>
Earnings from the first half of 2010 would account for around two-thirds of the income that the company was expected to register during the year, said Cheng.
In the first half of 2009,
Newly-added capacities in the Middle East and
The gas crunch in the
($1 = NT$31.81)
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