<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 26): Malakoff Corp Bhd (KL:<a href="/askedge/klse/5264" class="ce-stock" target="_blank">MALAKOF</a>) returned to profit for the third quarter mainly amid lower weighted average coal costs following a stabilisation of global coal prices.</p></div>

<div class=newsTextDataWrapInner><p>The improved performance in the quarter ended Sept 30, 2024 (3QFY2024) was also attributed to the group's wholly owned subsidiary Tanjung Bin Energy Sdn Bhd plant’s settlement of final insurance claims on its turbine blade failure, which occurred in November 2021.</p></div>

<div class=newsTextDataWrapInner><p>The net profit for the quarter stood at RM58.75 million, versus a net loss of RM109.42 million in the same quarter last year, as revenue rose 3% to RM2.22 billion from RM2.15 billion, according to the independent power producer’s bourse filing on Tuesday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>No dividend was declared for the quarter.</p></div>

<div class=newsTextDataWrapInner><p>For the first nine months of the year, Malakoff's total net profit stood at RM190.99 million versus a net loss of RM527.24 million in the same period last year, likewise due to the lower weighted average coal costs.</p></div>

<div class=newsTextDataWrapInner><p>Cumulative revenue was flat at RM6.81 billion versus RM6.8 billion.<br />
&nbsp;<br />
Looking forward, Malakoff expects overall performance for the full year to remain satisfactory.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Malakoff ended half a sen or 0.63% higher at 80 sen, valuing the group at RM3.98 billion.<br />
&nbsp;</p></div>


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