Malakoff posts lower Q1 net profit


KUALA LUMPUR (Bernama) -- Malakoff Corporation Bhd chalked up a net profit of RM60.44 million in the first quarter (Q1) ended March 31, 2021, down by almost a third from the RM89.18 million recorded a year earlier.

The independent power producer attributed the weaker earnings primarily to lower contributions from Tanjung Bin Power Sdn Bhd (TBP) and Tanjung Bin Energy Sdn Bhd (TBE) coal plants, given the decline in applicable coal price (ACP).

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