MSC's 2017 profit up on higher tin prices; smelter relocation to address inefficiencies

摘要

Malaysia Smelting Corp (MSC) recorded a 20% increase in net profit at its tin mining unit in 2017, but its smelting segment registered a loss due to aged equipment and operation inefficiencies that will be addressed by the relocation of its Butterworth smelter from Penang to Port Klang, it said on Friday February 23.MSC's mining division reported net profit of MYR 34.88 million ($8.92 million) in 2017, compared with MYR29.00 million the previous year, as the price of tin on the London Metal Exchange rose to an average of $20,036 per tonne from sub-$18,000 per tonne levels in 2016, MSC said.