Malakoff net profit up 13% to RM94.49mil in third quarter

Independent power producer Malakoff Corporation Bhd 3Q 2019 earnings were boosted by Tanjung Bin Energy Sdn. Bhd (TBE) coal plant.

PETALING JAYA: Malakoff Corp Bhd registered a net profit of RM94.49mil for the third quarter ended Sept 30, 2019, a 13.17% increase from the RM83.49mil achieved in the same period a year ago.

The independent power producer said this came after improved contribution from its Tanjung Bin Energy Sdn Bhd (TBE) coal plant and gain on remeasurement of existing investment in Shuaibah water and power assets following completion of the acquisition of Khazanah Nasional Bhd’s equity interest in Desaru Investment Ltd.