29
Sep
04:43
Southern Alliance Mining net profit plunges
Singapore-listed Malaysian miner Southern Alliance Mining saw its net profit plunge in its fiscal year ended 31 July 2022 (FY22) on lower revenue affected by intense overburden removal at the Chaah iron ore mine in Malaysia, Kallanish notes.
The group's net profit slumped 89.01% to MYR 16.27 million ($3.5m) from MYR 148.13m a year earlier, while revenue tumbled 53.87% to MYR 178.68m from MYR 387.38m.
The fall in revenue was due to intense overburden rem…
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