Malakoff posts RM884.36mil net loss for FY23

KUALA LUMPUR: Malakoff Corp Bhd reported a net loss of RM884.36 million in the financial year ended Dec 31, 2023 (FY2023) from a net profit of RM255 million posted a year ago.

The significant drop was due to the substantial negative fuel margin recorded for the first nine months of 2023 at Tanjung Bin Power Sdn Bhd (TBP) and Tanjung Bin Energy Sdn Bhd (TBE) coal plants as well as lower contribution from GB3 Sdn Bhd gas plant.