PETALING JAYA: Malakoff Corp Bhd
will remain prudent and cautiously optimistic on the overall performance of its financial year ending Dec 31, 2026.
In a filing with Bursa Malaysia, the company said its net profit for the first quarter ended March 31, 2026, dropped to RM20.12mil from RM33.99mil in the previous corresponding quarter, primarily due to lower contribution from unit Tanjung Bin Power Sdn Bhd, which was affected by the steam turbine generator rotor failure at Unit 30 and generator hydrogen cooler leakage at Unit 20.
Revenue plunged to RM1.37bil from RM2.03bil previously.
Malakoff said it is on track to rebuild its coal inventory to meet the operational requirements for Tanjung Bin Power and Tanjung Bin Energy coal-fired power plants.
“Following extensive repair works on the collapsed coal unloader at the Tanjung Bin Complex jetty, line C conveyor belt having the largest capacity to move coals up to 5,000 tonnes per hour, resumed operations on March 8, 2026, while the remaining two conveyor belts are expected to commence operation by the end of the second quarter of 2026.”
