Hydropower plants to buoy Malakoff performance

PETALING JAYA: Malakoff Corp Bhd’s RM1.22bil hydropower plants in Kelantan, which have achieved financial close, could potentially help to cushion the impact from the retirement of its older generating capacity in 2019-2027, albeit in a small way.

Kenanga Research said it is positive on the new project although the capacity is small as Malakoff looks for a new earnings base following the expiry of the 436 megawatt (MW) Port Dickson power plant in February 2019 and 640MW GB3 power plant in December 2022.