MSC net profit falls to RM98.34mil in FY22 on higher operating costs

KUALA LUMPUR: Malaysia Smelting Corp Bhd’s (MSC) net profit for the financial year ended Dec 31, 2022 (FY2022) fell to RM98.34 million from RM118.06 million in the previous financial year due to higher operating costs.

However, revenue jumped 39.7 per cent to RM1.5 billion from RM1.08 billion previously, mainly due to higher average tin prices of RM136,700 (2022) compared with RM130,600 (2021) per tonne and higher sales of refined tin in 2022.