MSC 4Q profit climbs 32% to RM39.9mil on higher tin prices

KUALA LUMPUR: Malaysia Smelting Corp Bhd (MSC) expects demand for tin to remain supported by growth in electronics, clean energy, artificial intelligence and data centre infrastructure, amid lingering supply and geopolitical uncertainties.

“Although supply chain recovery is emerging, particularly from Myanmar and Indonesia, the risk of disruptions arising from regulatory changes, policy shifts and geopolitical tensions remains present,” co-group chief executive officer Lam Hoi Khong said in a statement.

In the fourth quarter ended Dec 31, 2025, MSC saw its net profit rise 32.2% to RM39.9mil, or earnings per share of 4.80 sen, from RM30.2mil, or 3.60 sen, a year earlier.

Quarterly revenue rose to RM480mil from RM448.4mil previously, mainly driven by a higher average realised tin price of RM158,100 per tonne versus RM133,700 previously, despite lower refined tin sales volume.

For the full financial year ended Dec 31, 2025, the group posted a net profit of RM82 mil, up 3.2% from RM79.4 mil, while revenue grew 4% to RM1.76 bil from RM1.7 bil in FY24.

MSC said the improvement in revenue was primarily driven by sales of tin-bearing intermediates and by-products, as well as a higher average tin price of RM146,100 per tonne in FY25 compared with RM138,500 per tonne in FY24, despite lower refined tin sales volume during the year.

MSC has recommended a final single-tier dividend of 4 sen per share, amounting to RM33.6mil, subject to shareholders’ approval at its forthcoming annual general meeting.

This brings the total dividend for FY25 to 8 sen per share, translating to a payout ratio of 82% of FY25 net profit.

Co-group chief executive officer Nicolas Chen Seong Lee said the group will continue to prioritise business competitiveness and operational efficiency.

“Cost savings from the Butterworth plant closure and improved efficiencies at Pulau Indah will improve our bottom line. In mining, we are enhancing productivity, expanding resources and exploring new joint ventures to strengthen output.”