Latest news with #MalakoffCorporationBhd
New Straits Times
27-05-2025
- Business
- New Straits Times
Malakoff posts RM34mil net profit on RM2.203bil revenue in Q1
KUALA LUMPUR: Malakoff Corporation Bhd posted a net profit of RM34.0 million for the first quarter ended March 31 2025 compared to RM62.0 million a year ago. Its revenue stood at RM2.03 billion, down RM252.2 million or 11.1 per cent from RM2.28 billion in the corresponding quarter last year. The lower revenue was primarily due to lower energy payments from Tanjung Bin Power Sdn Bhd and Tanjung Bin Energy Sdn Bhd following a reduction in the applicable coal price as well as lower energy payments from Segari Energy Ventures Sdn Bhd in line with a reduced despatch factor. "These factors, along with a lower positive fuel margin at Tanjung Bin, higher net realisable value provision for coal inventories and a reduced contribution from Prai Power Sdn Bhd following the downward tariff revision under the extended power purchase agreement (PPA), impacted the group's net profit," Malakoff said. The group said contribution from environmental solutions was encouraging. Although the tonnes of waste collected under the concession business dropped 0.4 per cent compared to Q1 FY2024, waste handled under the non-concession business increased by 71 per cent year-on-year contributing to the group's net profit for the quarter under review. Malakoff managing director and group chief executive officer Anwar Syahrin Abdul Ajib highlighted its continued momentum in strengthening power generation, expanding its renewable energy (RE) footprint and advancing environmental solutions as part of its strategic shift towards sustainable growth. "We are observing a softening in global coal prices, largely driven by lower demand from major markets such as China and India. "While this trend may result in moderated energy payments from our coal-based assets, we view it as part of the broader global energy transition. 'In line with this, we continue to monitor the current price trend and remain focused on enhancing operational efficiency and plant reliability. These efforts reflect our continued commitment to maintaining business resilience while supporting the nation's energy needs in an evolving market landscape". He said the group continued to focus on its operational performance to ensure sufficient energy consumption for the country. In Q1 FY2025, the percentage of energy sold to the national grid in Peninsular Malaysia was more than 23 per cent of the total electricity generated. This was made possible through improved efficiency mainly due to minimum scheduled outages in the quarter in addition to the unwavering commitment of its site personnel. Malakoff said it continues to strengthen its RE portfolio through strategic financing and project execution. Earlier this year, its wholly-owned Malakoff Power Bhd issued the group's inaugural RM250.0 million Asean Sustainability SRI sukuk Murabahah under a RM1.2 billion Islamic medium-term notes. This is Malakoff's first sustainability offering under its Asean Sustainability SRI sukuk Murabahah and the first of its kind by an independent power producer in Malaysia. The proceeds from the issuance will fund eligible projects under Malakoff's sustainable finance framework, established in December 2023. On the project front, Malakoff Radiance Sdn Bhd formalised a solar PPA with Mardec Bhd for rooftop photovoltaic installations at five sites across Peninsular Malaysia. Malakoff Radiance also signed a second solar PPA with HICOM Automotive Manufacturers (Malaysia) Sdn Bhd, marking its largest single-site solar deployment to date at 4.22 MWp. This builds on the success of the first phase, a 2.0 MWp system at the same Pekan facility, which has reduced grid electricity consumption by about 7.0 GWh and avoided nearly 5,489 tCO2e in emissions, equivalent to the carbon absorption of 261,000 trees". On the environmental solutions front, Alam Flora Environmental Solutions Sdn Bhd in February secured a three-year contract renewal with Keretapi Tanah Melayu Bhd for train cleaning and sleeperette preparation services, reinforcing its strong track record in growing non-concession segments. Subsequently, on Feb 28, Malakoff, through its wholly-owned subsidiary Tuah Utama Sdn Bhd, completed the acquisition of a 49 pecent stake in E-Idaman Sdn Bhd, increasing the group's total effective waste management capacity close to 5,200 tonnes per day. This milestone further supports its long-term goal of managing 10,000 tonnes per day by 2031.
New Straits Times
25-04-2025
- Business
- New Straits Times
Malakoff to install solar panels at Mardec's key facilities
KUALA LUMPUR: Malakoff Corporation Bhd has signed a solar power purchase agreement with Mardec Bhd to install rooftop solar photovoltaic systems at five of the latter's key facilities across Peninsular Malaysia. The agreement, signed by its commercial and industrial (C&I) solar subsidiary Malakoff Radiance Sdn Bhd, entails a combined installed capacity of approximately 3.54 megawatt-peak (MWp) under the Net Energy Metering (NEM) scheme. Facilities involved include Mardec Processing Sdn Bhd, Mardec Industrial Latex Sdn Bhd and M-POL Precision Products Sdn Bhd. The largest installation with a capacity of 1.15MWp, will be located at Mardec Processing Sdn Bhd in Baling, Kedah. The installation is set to begin in mid-July 2025, with commissioning to follow shortly after. Mardec is a key player in Malaysia's rubber industry, specialising in the processing and trading of standard malaysian rubber, latex concentrate and specialty rubber products. It also plays an important role in supporting rubber smallholders by promoting sustainable sourcing. Malakoff managing director and group chief executive officer Anwar Syahrin Abdul Ajib said, in a statement, the initiative marks an important milestone in the commitment to driving industrial-scale renewable energy solutions. By embedding solar into core operational facilities, he said companies can not only lower their carbon footprint but also strengthen long-term operational resilience. "In 2024, Malakoff Radiance secured 22.1MWp of C&I solar projects with 17.4MWp successfully installed across various sectors. To date, it has built a strong C&I solar portfolio totalling 60 MW. "Each initiative we undertake contributes to a larger vision of accelerating the nation's clean energy transition. "Collectively, these efforts are helping to reshape Malaysia's energy landscape and we remain committed to pursuing strategic partnerships that drive long-term sustainability," Anwar Shahrin added. Malakoff is actively advancing the growth of its renewable energy initiatives while ensuring Malaysia's energy security remains uncompromised. Through its business pillar, Malakoff Green Solutions, the company has built an impressive portfolio of 173MW. This includes diverse projects such as large scale solar, commercial and industrial solar installations, small hydropower generation and the implementation of carbon-free mobility infrastructure.
