Malaysia Smelting Corporation Bhd (MSC) posted a 255.1% jump in net profit to RM77 million for the first half of FY26 (1H26), driven by higher refined tin sales volumes and stronger tin prices. Revenue for the period climbed to RM1.09 billion from RM748.7 million a year earlier.
The stronger half-year performance came as MSC’s average tin price rose to RM200,700 per metric tonne from RM140,900 per tonne in 1H25, alongside increased refined tin sales volume.
For the second quarter, net profit more than doubled to RM34 million from RM13.9 million a year earlier, while revenue surged 68.2% to RM637.3 million from RM379 million.
The quarterly improvement was supported by a 44.7% increase in refined tin sales volume and a 49.1% rise in the average tin price to RM208,400 per tonne.
MSC said its tin mining operations benefitted from higher production and stronger prices, while the smelting division improved on higher sales and encashment of tin intermediates and cost savings following the closure of its Butterworth plant.
MSC co-chief executive officer Nicolas Chen Seong Lee said tin prices remained elevated amid tighter supply conditions in major producing countries including Indonesia, Myanmar and Congo.
Demand, meanwhile, remains supported by structural growth in artificial intelligence, data centres, semiconductors, photovoltaic panels and other energy-transition technologies, he said.
Co-CEO Lam Hoi Khong said the group’s smelting activities are now fully consolidated at its more efficient Pulau Indah facility following the closure of the Butterworth plant, while MSC continues to focus on raising mining output and productivity, improving tin recovery and evaluating potential mining joint ventures.
