Lotte Chemical Titan shares up despite getting stop-work order for Pasir Gudang plant

PETALING JAYA: Lotte Chemical Titan Holdings Bhd shares rose 2.61% this morning, despite announcing that it received a stop-work order for its plant in Pasir Gudang, Johor.
At 10.27am, the stock, which was among the top gainers, stood at RM5.11 with 1.83 million shares changing hands. It has a market capitalisation of RM11.6 billion.
The order was days after news reports cited the Department of Environment (DOE) as having issued a stop-work order on a Pasir Gudang factory identified as the source of a stench which had reached Singapore's shores.
Lotte Chemical Titan said the order by the DOE is to mitigate and reduce odour emission and eliminate surface oil sheen/film discharge.
Nonetheless, the group said the commissioning and the commercial start-up of its TE3 project remain on target by the fourth quarter of 2017.