Posted by Goldberg > 2022-03-18 12:25 | Report Abuse

Dato’ Dr. Patrick Yong, Group Chief Executive Officer of MSC said, “Although 2021 was a year of continued challenges globally, MSC stayed resilient and delivered a stellar financial performance for the year. The tin supply deficit is forecasted to continue, which will sustain tin prices in the short to medium term. At the same time, tin demand remains robust in line with the global growth of :-
1-Electric vehicles,
2-Photovoltaic installations and
3-Consumer electronics, among others.

This bodes well for the Group.”
“Against this backdrop, we remain steadfast on our efforts to enhance the Group’s operational efficiencies while managing escalating logistics and operating costs.”
“With the lifting of the force majeure, we are accepting tin ores from customers to be smelted. At the moment, we are smelting the backlog of tin ore accumulated from the pandemic. We are delighted to update that the Pulau Indah smelting facility has reached 75% capacity and expect full production in 2022. The full commissioning of the Pulau Indah plant is expected to improve extractive yields, lower manpower costs as well as our carbon footprint.”
”Concurrently, we are also running the Butterworth smelter in parallel. We plan to de-commission this plant in the next 2 to 3 years when we achieve smooth operations at Pulau Indah. We anticipate our financial performance to improve as we phase out production at the Butterworth plant.”
“Meanwhile, our tin mining business has delivered a strong performance in FY21, being a direct beneficiary of high tin prices. Despite the FMCO, we have successfully increased the daily mining output at the Rahman Hydraulic Tin mine in Klian Intan, thanks to our efforts to mechanise operations and introduce new technologies at the mine. We look forward to an even higher mining productivity in 2022, barring any unforeseen circumstances.”

Posted by dchin472 > 2022-03-18 12:29 | Report Abuse

good company