Malaysia Smelting Corporation Berhad reported that net profit for the three months ended Jun 30 2026 (2QFY26) more than doubled to about 10.2 million Singapore dollars, from 4.2 million Singapore dollars a year earlier, lifted by higher refined tin sales and stronger average tin prices.

Group revenue climbed 68.2 per cent year-on-year to roughly 191.2 million Singapore dollars, driven by a 44.7 per cent increase in refined tin sales volume and a 49.1 per cent rise in average tin price to 208,400 dollars per metric tonne.

The tin mining division remained the main earnings driver, with profit before tax surging to 17.7 million Singapore dollars, up from 8.7 million Singapore dollars in 2QFY25, supported by higher production and firmer prices.

The tin smelting segment swung to a profit before tax of 1.1 million Singapore dollars, reversing a loss of 2.9 million Singapore dollars a year ago, aided by better margins on tin intermediates and cost savings following the closure of the Butterworth plant, although foreign-exchange losses of 1.4 million Singapore dollars trimmed gains.

For the first half of FY26, group revenue rose to about 328.3 million Singapore dollars from 224.6 million Singapore dollars a year earlier, while net profit surged 255.1 per cent to 23.1 million Singapore dollars.

Co-chief executive officer Nicolas Chen said tin prices remain elevated amid tightening supply from Indonesia, Myanmar and the Democratic Republic of the Congo, while demand is underpinned by sectors such as artificial intelligence, data centres and renewable-energy technologies.

Fellow co-chief executive officer Lam Hoi Khong noted that all smelting activities are now consolidated at the more efficient Pulau Indah facility, which has a lower carbon footprint due to its use of natural gas and rooftop solar power.

On a quarter-on-quarter basis, revenue rose from 137.1 million Singapore dollars in 1QFY26, though net profit eased from 12.9 million Singapore dollars as smelting earnings moderated.