KUALA LUMPUR (May 22): Malaysia Smelting Corporation Bhd (KL:MSC) reported a more than fivefold jump in its first-quarter net profit, driven by soaring tin prices and stronger performance from both its mining and smelting segments.
Net profit for the three months ended March 31, 2026 (1QFY2026) surged to RM42.93 million — its highest since 1QFY2022 — from RM7.72 million a year earlier, while revenue grew 23.6% to RM457.04 million from RM369.77 million, its bourse filing on Friday showed.
MSC attributed the improved performance to a higher average tin price of RM193,100 per tonne, up nearly 36% from RM142,000 per tonne a year earlier, and higher sales of tin-bearing intermediates.
MSC, a subsidiary of Singapore's Straits Trading Company Ltd of Singapore, declared a special single-tier dividend of four sen per share amounting to RM33.60 million, payable on June 26.
Its tin smelting segment recorded a higher profit before tax (PBT) of RM15.5 million in 1QFY2026, compared with RM5.7 million in 1QFY2025, supported by higher margins from tin intermediates and cost savings following the closure of its Butterworth smelter plant.
Its tin mining segment also posted stronger results, with PBT jumping to RM55.2 million from RM29.3 million, underpinned by higher production volume and favourable tin prices.
In a statement, MSC co-chief executive officer Nicolas Chen Seong Lee said the demand for tin remains supported by structural growth trends in artificial intelligence, data centres, clean energy and semiconductor electronics, despite ongoing geopolitical uncertainties.
Supply disruptions and regulatory developments across the global tin supply chain also continue to support market fundamentals, he said.
“Against this backdrop, the group will continue to monitor geopolitical developments and potential disruptions to global supply chains and energy markets, while focusing on operational efficiencies, prudent cost management and disciplined capital allocation,” he added.
Shares of MSC rose nine sen or 4.31% to close at RM2.18 on Friday, giving the group a market capitalisation of RM1.83 billion.