Tin producer MSC posts lower Q1 earnings

Pursuant to the completion of the proposed share split, the company will also offer a bonus issue of up to 200 million new subdivided shares on the basis of one bonus share for every one split share. (File pic shows workers at the tin smelting plant in Penang.

KUALA LUMPUR: Tin miner and metal producer Malaysia Smelting Corp Bhd (MSC) says the high cost of starting a new plant to impact its earnings this year.

Already, the higher cost had contributed to the 64% drop in net profit to RM4.58mil in the first quarter ended March 31 compared with RM12.62mil made a year ago.