Malaysia: MSM wants to boost export of sugar products


Kuala Lumpur: MSM Malaysia Holdings Bhd has so far exported 200,000 tonnes of sugar products nearing its target of exporting 350,000 tonnes of sugar products for the 2020 financial year (FY20).

Datuk Khairil Anuar Aziz, chief executive officer, MSM group said that their aim is to generate revenue amounting to RM600 million by achieving this target.

MSM has managed to hold its ground amidst a challenging FY19, thanks to several initiatives in its turnaround plan.

He also stated that the company is expecting growth this year as the sugar prices are steadily improving and after the commercialization of its refinery in Johor.

MSM posted a total revenue of RM2.0 billion for the financial year ended Dec 31, 2019 (FY19), a nine per cent reduction compared with RM2.2 billion previously.

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