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apple developer account:Malakoff’s FY20 net profit declines to RM286mil

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In a filing with Bursa Malaysia yesterday, it said the lower revenue was primarily due to lower energy payment recorded from energy subsidiaries KUALA LUMPUR: Malakoff Corporation Bhd’s net profit for the financial year ended Dec 31,2020, declined to RM286.58mil from RM320.15mil in the previous year. Revenue slipped to RM6.28bil from RM7.42bil. In a filing with Bursa Malaysia yesterday, it said the lower revenue was primarily due to lower energy payment recorded from energy subsidiaries, Segari Energy Ventures Sdn Bhd and Tanjung Bin Power Sdn Bhd, and deconsolidation of Malakoff Australia Pte Ltd’s revenue upon disposal of the group’s investment in December 2019. “However, these were partially moderated by revenue contribution from Alam Flora Sdn Bhd, the newly acquired subsidiary which was completed on Dec 5,2019, ” it said. It said economic recovery remained an absolute priority and the company will continue to play a key role as an essential service provider to drive growth with its power plants and waste collection operation together with the ongoing cost-saving measures during this challenging period. — Bernama
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