Malakoff Net Profit Falls To RM31.71 Mln In 2Q 2026
KUALA LUMPUR, Aug 17 (Bernama) -- Malakoff Corporation Bhd’s net profit fell to RM31.71 million in the second quarter ended June 30, 2026 (2Q 2026) from RM62.83 million in the same period last year.
Revenue decreased by 5.4 per cent to RM1.91 billion from RM2.01 billion previously, due to lower capacity payments from Tanjung Bin Power Sdn Bhd (TBP) following the steam turbine generator rotor failure at unit 30 and the generator hydrogen cooler leakage at unit 20.
The company said the lower profit was primarily due to a lower contribution from TBP, which was affected by the steam turbine generator rotor failure at unit 30 and the generator hydrogen cooler leakage at unit 20, partially offset by insurance claims receivables and higher contribution from investments in associates.
“However, these were partially offset by higher energy payments from Segari Energy Ventures Sdn Bhd and Prai Power Sdn Bhd in line with the increase in despatch factor,” it said in a Bursa Malaysia filing.
Meanwhile, Malakoff’s environmental solutions business, Alam Flora Sdn Bhd, and its subsidiary, Alam Flora Environmental Solution Sdn Bhd, recorded a profit after tax and minority interests of RM18.3 million for 2Q 2026, a decrease of RM8.4 million, mainly due to the absence of a one-off income recognised in 2Q 2025.
For the six months, the group recorded a lower net profit of RM51.82 million compared with RM96.82 million, while revenue stood at RM3.28 billion versus RM4.05 billion previously.
In a separate statement, Malakoff group chief executive officer Syahrunizam Samsudin said the recovery efforts at the Tanjung Bin Complex have been completed, and with all units now operating at close to full capacity, the group expects a materially stronger performance from the plants in the months ahead.
“Nonetheless, the strong operational performance of our gas-fired plants in Lumut and Prai demonstrates the resilience of Malakoff’s diversified generation portfolio, reflecting our ability to sustain operational and financial stability even when individual assets face temporary pressures,” he said.
Moving forward, with the Tanjung Bin Complex restored, long-term capacity secured through extensions of the Lumut power purchase agreements, and new earnings streams taking shape in renewables and environmental solutions, the group enters the second half of the year with clear momentum.
-- BERNAMA