News

Malakoff's new growth areas include securing more RE, WTE plants bids - Chairman



KUALA LUMPUR, March 29  -- Malakoff Corporation Bhd will focus its strategic expansion, as part of its new growth areas, in securing bids for renewable energy (RE) and waste-to-energy (WTE) plants.

Chairman Datuk Hasni Harun noted that RE has been identified as one of the key areas of growth in the energy industry, both internationally as well as within Malaysia. 

“The demand for power will continue to increase, as consumption increases in the longer term. 

“Within Malaysia, the number of WTE plants are also set to expand as the government has announced its target of six WTE plants in the country by 2025,” he said in the company’s Annual Report released today. 

He said the company would continue to explore and pursue potential investments in the power and water industry which would provide lucrative returns for its international business especially in the Middle East and North Africa (MENA) region. 

Hasni said as a sustainable energy player, the company would continue to focus on strengthening risk management approach to augment its business resilience and complementing its business development drive.

In order to continue creating value within the company operations and for its stakeholders, he said Malakoff would maintain a strict focus on cost savings and operations optimisation programmes. 

“We remain optimistic that our focused strategic execution will continue to build long-term and meaningful value for our shareholders and stakeholders,” he said. 

Malakoff is banking on the dissemination of vaccines throughout the world and in Malaysia to lead to an uptick in the global economy and more so as the World Bank has projected a 6.7 per cent growth for the country this year, bouncing from an economic contraction of 5.8 per cent in 2020. 

Meanwhile, the company’s financial year 2020 (FY2020), revenue declined by 15.44 per cent year-on-year (YoY) to RM6.27 billion, mainly due to lower energy payments from its Tanjung Bin Power Sdn Bhd (TBP) and Tanjung Bin Energy Sdn Bhd (TBE) coal plants as a result of a reduction in the applicable coal price (ACP). 

-- BERNAMA



 




    Other News

Serba Dinamik in collaboration with Sabah govt to reduce rural digital divide

KUALA LUMPUR, Sept 22 -- Serba Dinamik Group Bhd, a provider of internet access through local satellite technology, has installed the Proof of Concept (POC) for Very Small Aperture Terminal (VSAT) satellite internet access in Kampung Betutai, Tuaran, Sabah to reduce the rural digital divide.


MCE signs MoU with China's Chongqing Beidou for JV to develop electric, hydrogen motorcycles

KUALA LUMPUR, Sept 20 -- MCE Holdings Bhd's wholly-owned subsidiary MCE Ventures Sdn Bhd (MVSB) has signed a memorandum of understanding (MOU) with China’s Chongqing Beidou Jiean Neo-Energy Technology Ltd (BDJA) to establish a joint venture (JV) for the electric vehicle business.


SEDA Malaysia Celebrates A Decade Of Sustainable Energy Journey

PUTRAJAYA, Sept 20 (Bernama) -- Sustainable Energy Authority Development (SEDA) Malaysia officially launched its 10th Anniversary celebration via online ceremony officiated by SEDA Malaysia’s Chairman, YB Tuan Lukanisman Awang Sauni.

The Authority, which was established in 2011 achieved its first decade of operation on 1st September this year. As a statutory body under the Ministry of Natural Energy and Resources (KeTSA), SEDA Malaysia is responsible for the development of the sustainable energy industry in Malaysia.

    Main Sponsor


    Quotes



© 2021 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy | Security Policy This material may not be published, broadcast,
rewritten or redistributed in any form except with the prior written permission of BERNAMA.

Best viewed in Firefox 58.0.1 (64-bit) & Chrome Version 63.0.3239.132 (Official Build) (64-bit) with 1920 x 1080 resolution

Contact us :
General [ +603-2693 9933, helpdesk@bernama.com ]
Product/Service Enquiries [ +603-2050 4466, portal@bernama.com ]