2018 | Quarter 2
Malakoff Corporation Berhad Held its 12th Annual General Meeting
Malakoff Corporation Berhad (Malakoff), a Member of MMC Group, held its 12th Annual General Meeting (AGM) at Hotel Istana, Kuala Lumpur.
The AGM was chaired by Datuk Haji Hasni Harun, Chairman of Malakoff and attended by approximately 1,400 shareholders and proxies. Malakoff recorded an increase of 17% in revenue to RM7,130.4 million in financial year ended 2017(FY2017) from RM6,098.4 million in financial year ended 2016 (FY2016). This increase was contributed mainly by higher energy prices at Tanjung Bin Power Sdn Bhd and Tanjung Bin Energy Sdn Bhd.
The Group recorded profit after tax and minority interest of RM310.0 million, compared with RM355.5 million in FY2016, primarily due to lower capacity payment registered by Segari Energy Ventures Sdn Bhd following the revision of its Power Purchase Agreement from 1 July 2017.
During the AGM, all resolutions set out in the Notice of the AGM dated 28 March 2018 were approved by the shareholders including the special business on the proposed renewal of authority for the Company to purchase its own shares. Based on the latest announcement of the Company, it had purchased a total of 60,693,900 number of shares as at 24 April 2018, representing 1.21% of the total share capital of the Company.
Malakoff shareholders also approved a single-