Thirumalai Chemicals' Subsidiary, Optimistic Organic Sdn. Bhd., Malaysia, Faces Business Challenges

Thirumalai Chemicals Ltd. has noted that the Maleic Anhydride business of its step-down subsidiary, Optimistic Organic Sdn. Bhd. (OOSB) in Malaysia, is performing poorly. This is primarily due to the business situation in China and the Far East in recent years, and more recently, the impact of US and other tariffs. The majority shareholder in OOSB, M/s Cheminvest Lte Singapore, is studying all suitable options for value accretion, including but not limited to divestment in full or in part, and partnership. The company will keep shareholders, Stock Exchanges, the public, and regulators informed of progress as needed.