For the quarter ended 30 September 2023, Malakoff recorded RM2,154.5 million in revenue, a decrease of RM1.02 billion or 32.2% from RM3.18 billion reported in the corresponding year due to lower energy payments recorded from Tanjung
Bin Power Sdn. Bhd. and Tanjung Bin Energy Sdn. Bhd. impacted by the decline in applicable coal price as well as the absence of revenue contribution from GB3 Sdn. Bhd. following the expiry of the Power Purchase Agreement on 30 December 2022.
Correspondingly, the Group recorded a loss before taxation of RM107.0 million, a significant reduction of RM173.6 million from profit before taxation of RM280.6 million reported in the corresponding quarter ended 30 September 2022, which the group said was primarily due to the negative fuel margin recorded at TBP and TBE coal plants of RM149.4 million and RM33.0 million, respectively largely impacted by the higher weighted average coal costs, lower contribution from GB3 following the expiry of PPA and lower share of profit from associates and joint ventures.
For YTD, the Group recorded RM6.8 billion in revenue, a decrease of RM577.9 million or 7.8% from RM7.38 billion reported in the corresponding period ended 30 September 2022, primarily due to lower energy payment recorded from TBP coal plant impacted by the decline in ACP and absence of revenue contribution from GB3 following the expiry of the PPA. However, these were partially moderated by higher energy payment and capacity income recorded from TBE given the higher despatch factor and shorter duration of plant outage.
Correspondingly, the Group recorded a loss before taxation of RM645.1 million, a significant reduction of RM1,220.5 million from profit before taxation of RM575.4 million reported in the corresponding period ended 30 September 2022, primarily due to substantial negative fuel margin recorded at TBP and TBE coal plants of RM793.0 million and RM65.4 million, respectively
largely impacted by higher weighted average coal costs, lower contribution from GB3 gas plant following the expiry of PPA, higher operating insurance costs, and lower share of profit from associates and joint ventures.
