MSM's RM34m Q1 loss leans on KL to raise sugar prices again
Malaysia's largest sugar refiner needs price hike but has to tread carefully with upcoming Hari Raya
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Kuala Lumpur
PUTRAJAYA could face added pressure to approve another sugar price hike following a hefty first quarter loss by MSM Malaysia Holdings Bhd, which the state-owned sugar refiner attributed to higher raw material costs and a weakening ringgit.
For the three months to end-March, MSM sank to a RM34.6 million (S$11.2 million) loss versus a profit of RM59.3 million in the same period last year. Its revenue was higher however at RM640 million compared to RM553 million before.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
