KUALA LUMPUR, Aug 23 — Malakoff Corporation Bhd’s net profit was marginally lower at RM52.25 million for the second quarter ended June 30, 2019, from RM52.55 million recorded in the same period last year.
Revenue also declined to RM1.81 billion from RM1.94 billion previously.
In a filing with Bursa Malaysia today, the company attributed the weaker performance to lower energy payment from Tanjung Bin Energy Sdn Bhd (TBE) coal plant following the plant’s 73-day scheduled maintenance outage and rectification works performed from March 31-June 12, 2019.
In a separate statement, Malakoff chief executive officer, Datuk Ahmad Fuaad Kenali said the company’s recent acquisition of Khazanah Nasional Bhd’s stake in Shuaibah 3 Independent Water and Power Plant as well as Shuaibah 3 Expansion Independent Water Plant projects was in line with its strategic growth initiative.
“This will increase the group’s overall power generation and water production capacity to 6,708MW and 544,375 m3 /day, respectively,” he added.
Meanwhile, Malakoff’s board of directors also approved the payment of an interim dividend of 2.44 sen per ordinary share, in respect of the financial year ending Dec 31, 2019. — Bernama
