Malakoff’s Q2 Revenue Increases To RM1.73 Billion

Malakoff’s Q2 Revenue Increases To RM1.73 Billion

KUALA LUMPUR, Aug 21 : Malakoff Corp Bhd’s revenue for the second quarter ended June 30, 2017 rose to RM1.73 billion from RM1.53 billion in the same quarter last year.

Its pre-tax profit, however, slipped to RM153.06 million from RM158.86 million previously.

In a filing to Bursa Malaysia today, Malakoff said, the revenue surge was mainly due to higher applicable coal price and higher capacity factor registered the power plant at Tanjung Bin Power during the current quarter.

It said the lower pre-tax profit was mainly due to lower contributions from the plant during the current quarter and insurance claim on rotor replacement recorded in the corresponding quarter.

On prospects, the company said, the results for the financial year ending Dec 31, 2017 remained positive but would be affected by the lower capacity payment in the newly-revised Segari Energy Ventures Sdn Bhd’s power purchase agreement which commenced July 1, 2017.

BERNAMA