News

Malakoff posts higher Q1 net profit of RM67 million

KUALA LUMPUR, May 27 (Bernama) -- Malakoff Corporation Bhd's net profit rose to RM67.0 million for the first quarter ended March 31, 2019 (Q1 2019) from RM52.91 million in the same period last year.

Revenue also increased to RM2.01 billion from RM1.60 billion previously, primarily due to higher energy payment recorded by Tanjung Bin Power Sdn Bhd and Tanjung Bin Energy Sdn Bhd’s (TBE) coal plants on the back of higher applicable coal price.

In a filing with Bursa Malaysia today, the country's largest independent power producer said its pre-tax profit soared to RM131.4 million in Q1 2019 compared with RM97.0 million in the corresponding quarter last year.

"This was mainly attributed to the improved contribution from TBE coal plant, as there was no unplanned plant outage occurrence during the current quarter under review, coupled with lower net finance costs.

"However, these were partially offset by higher operation and maintenance costs," it added.

In a separate statement, chief executive officer Datuk Ahmad Fuaad Kenali said the group would continue to prioritise the reliability and efficiency of its assets, especially TBE power plant.

"The plant is currently undergoing a 70-day scheduled outage (March 31, 2019 to June 9, 2019) for rectification and maintenance work, which upon completion, is expected to be more resilient going forward," he said.

Ahmad Fuaad also said the acquisition of Alam Flora Sdn Bhd, which was expected to be completed by end-2019, would enable the group to expand into high potential waste and environmental related services.

-- BERNAMA  

    Other News

Solarvest Akan Pasang Panel Fotovoltaik Solar Terbesar Di Malaysia Di Pusat Beli Belah 1 Utama

KUALA LUMPUR, 15 April (Bernama) -- Bandar Utama City Centre Sdn Bhd melantik anak syarikat Solarvest Holdings Bhd, Solarvest Energy Sdn Bhd, untuk memasang panel fotovoltaik (PV) solar terbesar di Malaysia dan panel PV bersepadu-bangunan di pusat beli-belah 1 Utama.

Verdant Solar Sasar 2,600 Pemasangan Panel Pada Tahun Ini - Ceo

Oleh Siti Radziah Hamzah

KUALA LUMPUR, 11 April (Bernama) -- Penyedia penyelesaian tenaga solar, Verdant Solar Sdn Bhd menyasarkan untuk menggandakan bilangan pemasangan panel solarnya kepada 2,600 pada tahun ini berbanding 1,300 pada 2023.

Aidilfitri: Orang Ramai Dinasihat Utamakan Keselamatan Elektrik Dan Gas - St

PUTRAJAYA, 8 April 2024 (Bernama) -- Orang ramai dinasihatkan supaya mengutamakan keselamatan elektrik dan gas menjelang sambutan Aidilfitri tidak lama lagi.