KUALA LUMPUR (Sept 21): Lotte Chemical Titan Holding Bhd (LCT) reversed its earlier loss and rose 0.19% at mid-morning today, after there were no fatalities nor injuries reported in the small fire that broke out at TE3 project, one of its plants, in Pasir Gudang yesterday.

At 11.30am, LCT recovered one sen to RM5.30 with 7.39 million shares traded, for a market capitalisation of RM11.98 billion.

Earlier, the stock had dipped to a low of RM5.09 from its opening of RM5.16.

In a bourse filing today, the company said there was minor damage and expects the TE3 project commercial startup to be on track by 4QFY17.

"We will provide an update on the TE3 project as soon as possible," it said.

Additionally, the company is still in the midst of investigating the cause of the fire.

"All other plants at the Pasir Gudang site were not affected. There is no impact on normal production and all other plants are running normally," it said.

As of now, the company is assessing the financial impact and will make an immediate announcement once determined.