MSC results hit again by Koba problems
Final audited results for 2012 announced by Malaysia Smelting Corporation on 29 April showed much larger losses than the unaudited figures released at the end of February, reflecting further provisions for the expiry of 75%-owned subsidiary PT Koba Tin’s...Koba contract renewal decision delayed
The Indonesian government has yet to renew the tin mining contract of work for Malaysia Smelting Corporation’s 75%-owned subsidiary, PT Koba Tin. The CoW expired at the end of March. In a statement to Bursa Malaysia MSC said PT Koba Tin has received notification...MSC hopeful on 2013 prospects
Malaysia Smelting Corporation has reported a 25% fall in revenues and a pre-tax loss of RM 62.7 million (US$20.2 million) before unusual items in 2012, compared to a pre-tax profit before unusual items of RM 116.4 million in 2011. However by curtailing operations by...MSC reports difficult quarter
Malaysia Smelting Corporation reported a pre-tax loss of RM 75.0 million (US$24.2 million) in the second quarter, mainly due to problems at its 75% owned Indonesian subsidiary PT Koba Tin. Koba made a loss of RM 68.9 million in the quarter and cut production by 50% as...Doubts over Koba contract extension
A senior government official told the Jakarta Post that the contract of work under which PT Koba Tin operates is unlikely to be extended beyond the current expiry date of 31 March 2013. Energy and Mineral Resources Ministry’s minerals and coal director general,...MSC plans further reduction in Koba stake
Malaysia Smelting Corporation has announced changes to a strategic alliance with an Indonesian group which could result in its shareholding in PT Koba Tin falling from 75% to 30%. The proposed deal with Optima Synergy Resources Limited was originally announced in...MSC to invest in DR Congo smelter
Malaysia Smelting Corporation (MSC) has agreed to take a 40% stake in Africa Smelting Corporation (ASC), which is currently controlled by Mining Mineral Resources (MMR). ASC is building a new 3,500 tpy tin smelter in Lubumbashi in the Katanga province of DR Congo. One...MSC back in black
Malaysia Smelting Corporation recorded a small pre-tax profit of RM8.7 million (US$1.8 million) in the first quarter, following the loss of RM35.1 million in the fourth quarter of last year. However continuing losses at its PT Koba Indonesian operations have largely...MSC appoints Chua as Deputy CEO
Malaysia Smelting Corporation has appointed Chua Cheong Yong as Deputy Group Chief Executive Officer, and Mohamed Yakub Bin Ismail as the company’s Chief Operating Officer. In a statement to the Bursa Malaysia Exchange MSC said that Mr Chua “will continue...
