PETALING JAYA: Tin miner and metal producer Malaysia Smelting Corporation Bhd’s (MSC) net profit for the third quarter ended Sept 30, 2024 (Q3’24) inc...
MSC’s nine-month revenue was lifted by more favourable tin prices and higher sales volume of refined tin. – Malaysia Smelting Corp picTin miner and metal producer Malaysia Smelting Corporation Bhd’s net profit for the third quarter ended Sept 30, 2024 increased 20.88% to RM14.29 million from RM11.82 million in Q3’23.
In line with favourable tin prices, the group’s tin mining segment recorded a 26.1% year-on-year increase in net profit to RM22.5 million during the quarter from RM17.9 million a year ago. The tin mining segment posted a higher net profit of RM61.7 million on the back of higher tin prices. MSC group CEO Datuk Dr Patrick Yong said that despite the challenges posed by the global economic environment, the company remains steadfast in building a more resilient business through operational improvements and strategic investments in mining and smelting businesses.
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