<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Lotte Chemical Pakistan Limited (LOTCHEM) disclosed its
4QCY20 financial result with earnings of Rs0.72/sh (up by 73%/18% YoY/QoQ).
This takes CY20 earnings to Rs1.40/sh (down by 60% YoY) vs Rs3.54/sh in CY19.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The result is accompanied with a cash dividend of Rs0.75/sh.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The result is in line with our expectation.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We are positive towards LOTCHEM as PTA-PX margins are well
above breakeven level of US$82/ton.</span></li></ul>
