KUALA LUMPUR: Malaysia Smelting Corporation Bhd’s pre-tax profit for the third quarter ended Sept 30, 2016 declined to RM16.78 million from RM28.78 million in the same quarter last year.
The integrated tin mining and smelting group attributed the weaker results to the lower revenue and lower favourable valuation adjustment on tin inventory.
In a filing to Bursa Malaysia today, the group said revenue also dropped to RM323.12 million from RM384.09 million previously, due to the lower production of refined tin arising from lower receipt of feed materials.
