,Malakoff managing director and CEO Anwar Syahrin Abdul Ajib (pic) said he is confident of the group’s growth in the renewable energy (RE) and environmental services segments while maintaining the operational efficiency of its power plants.
if you want to buy apple account, choose buyappleacc.com, buyappleacc.com is a best provider within bussiness for more than 3 years. choose us, you will never regret. we provied worldwide apple developer account for sale.
KUALA LUMPUR: Malakoff Corp Bhd posted a 12.1% hike year-on-year in net profit to RM117.7mil for its second quarter ended June 30, 2021.
This was mainly due to higher contributions from Tanjung Bin Power Sdn Bhd (TBP) and Tanjung Bin Energy Sdn Bhd (TBE) on the back of higher applicable coal price (ACP), higher capacity income from improvements in plant availability, improved earnings from Alam Flora Sdn Bhd and better profits from foreign associates.
However, the group said in a statement that the improved earnings were offset by higher operating costs, depreciation charges and lower fair value gain on hedging instruments compared to the second quarter of 2020.
Excluding the one-off gain from the settlement agreement with GE Malaysia in the second quarter of 2020, the group’s net profit increased by 68% in the current quarter.
Revenue for the quarter under review was 5.2% higher year-on-year to RM1.58bil mainly due to improved energy payments from TBP and TBE, on the back of higher ACP.
The group has proposed an interim dividend payment of 3.1 sen per ordinary share, with the ex-date on Sept 17 and payment on Oct 20, 2021.
Malakoff managing director and CEO Anwar Syahrin Abdul Ajib said he is confident of the group’s growth in the renewable energy (RE) and environmental services segments while maintaining the operational efficiency of its power plants.
“We are accelerating expansion in RE as we embark towards our goal to be a sustainably-conscious organisation. In the environmental services segment, Alam Flora continues to be a key earnings driver by contributing RM29mil in the second quarter of 2021, versus RM13mil a year ago.”
Anwar Syahrin pointed out that Malakoff had recently signed a memorandum of understanding with Koperasi Polis Diraja Malaysia Bhd to assess the feasibility of jointly developing rooftop solar projects at selected police premises in Peninsular Malaysia.