MMC’s net profit up 7.4% in first quarter
MMC Corp., a Malaysian diversified infrastructure and utilities conglomerate, said on Monday that net profit improved 7.4% year on year to 55 million ringgit ($13 million) in the first quarter of the year due to growth in its power generation unit. Revenue in the same period declined 1.2% to 925 million ringgit with reduced construction orders and lower throughput at its main port, Pelabuhan Tanjong Pelepas, the group said in a stock exchange filing.
