KUALA LUMPUR: Malakoff Corporation Bhd
returned to the black with a net profit of RM93.57 million for the second quarter (2Q) ended June 30, 2024, from a net loss of RM318.73 million in the same quarter last year.
It attributed the higher net profit primarily to improved contributions from Tanjung Bin Power Sdn Bhd (TBP) and Tanjung Bin Energy Sdn Bhd (TBE) plants, given the lower weighted average coal costs following stabilisation of global coal prices and gain arising from compensation for compulsory land acquisition.
