Malakoff 1Q net profit dips 15.8% to RM50.9mil

Malakoff managing director chief executive officer Anwar Syahrin Abdul Ajib

KUALA LUMPUR: Malakoff Corp Bhd’s net profit fell 15.8% to RM50.9mil in the first quarter ended March 31, from RM60.4mil a year ago.

The lower net profit was mainly due to lower contribution from Tanjung Bin Energy Sdn Bhd (TBE) resulting from the plant outage caused by low-pressure turbine blade failure, coupled with higher depreciation charges.