KUALA LUMPUR, Feb 23 — Malakoff Corporation Bhd’s net profit slipped to RM254.55 million in the financial year ended December 31, 2021 (FY2021) from RM286.58 million posted a year ago.
Revenue rose 3 per cent to RM6.46 billion from RM6.28 billion previously, primarily due to higher energy payments from Tanjung Bin Power Sdn Bhd on the back of higher applicable coal price (ACP), partially offset by lower energy payments recorded from gas power plants given the decrease in despatch factor.
Managing director and chief executive officer Anwar Syahrin Abdul Ajib said the group’s sustained performance in the financial year under review is a testament to its continued focus on optimising operational excellence across our existing assets while executing on growth strategies.
“Renewable energy and environmental solutions will be the key growth drivers of Malakoff as the company advances its transition to a cleaner energy and circular economy future,” he said in a separate statement.
Malakoff has successfully achieved commercial operations of the rooftop solar projects for Pos Malaysia Bhd, DRB-HICOM Bhd and UMW Holdings with a total capacity of 11 MWp.
“The group continues to accelerate its expansion in rooftop solar projects as we collaborate with key clients to support their sustainability agenda of harnessing energy from green sources.
“On the environmental solutions front, Alam Flora Sdn Bhd’s construction and demolition waste facility in Pahang is expected to be fully operational by the end of the first quarter of 2022.
“The 120 tonnes per day facility is part of the group’s initiative to capture new revenue streams from inert waste,” he added. — Bernama