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Malakoff Corporation Berhad

Malakoff runs power plants and sells electricity, and also handles waste management and water services.

Malakoff Corporation Berhad is a Malaysian company that builds and runs power plants, then sells the electricity they produce. Its main customers are big electricity buyers — mostly national utility companies like Tenaga Nasional in Malaysia, plus grid operators in other countries. The company also runs a waste management business and a water desalination business, mainly in the Middle East and North Africa. So think of Malakoff as a landlord for electricity: it owns the machines that make power, signs long-term contracts to sell that power, and collects steady payments for years.

The biggest chunk of revenue comes from power generation, which is roughly 80% to 90% of the business depending on the year. These are long-term contracts, often 20 to 25 years, which makes the cash flow fairly predictable. The rest comes from environmental services — collecting and sorting waste, and running plants that turn seawater into drinking water. That side is smaller but growing, especially in places like Saudi Arabia and Oman where water is scarce and governments pay well for reliable supply.

Malakoff was founded in the 1970s as part of the Tanjung Bin group, building Malaysia's first independent power plants. It listed on Bursa Malaysia in 2010. Today it is majority-owned by MMC Corporation, a Malaysian infrastructure group. The company pays dividends to shareholders and reinvests some cash into maintaining its plants and occasionally buying or building new ones. Its main challenge is that power prices and contract terms are set by governments, so growth depends on winning new tenders and expanding its water and waste businesses abroad. If you want a simple way to think about it: Malakoff is like a toll road operator, but instead of cars, the toll is paid by electricity flowing through its plants.

Saved answer · last researched 11 Oct 2026