Malakoff net profit tumbles 78% in 4Q

KUALA LUMPUR: Malakoff Corp Bhd’s net profit tumbled 77.9% to RM9.2mil in the fourth quarter ended Dec 31, 2021 (4Q21) from RM41.64mil a year ago.

The lower profit was primarily due to write-off of Segari Energy Ventures Sdn Bhd (SEV) deferred expense, lower contribution from Tanjung Bin Energy Sdn Bhd (TBE) impacted by lower capacity payment and impairment of assets caused by plant outage as well as higher operation and maintenance costs.