MSM wants sugar ceiling price raised

Financial reporting time: MSM CFO Aznur Kama Azmir (left) with Amri at the unveiling of the company’s third quarter results.

Sugar producer asks for 20%-30% hike after Q3 profit fall

KUALA LUMPUR: MSM Malaysia Holdings Bhd, which controls 65% of the country’s sugar market, has appealed to the Government to increase the retail ceiling price of refined sugar by 20% to 30% as its net profit for the third quarter ended Sept 30 fell to RM23.3mil, from RM63.8mil a year ago due to high raw sugar prices.