MSM aims to ship 100,000 tonnes of products

KUALA LUMPUR: Sugar producer MSM Malaysia Holdings Bhd is eyeing to boost exports, with a target to ship 100,000 tonnes of products by 2021, after the company fell deeper into the red in the three-month ended Sept 30.

Losses in the third quarter widened to RM185mil, as MSM continued to struggle with lower selling prices and slower sales overseas. The company also took a RM137.35mil hit during the quarter for impairment of certain equipment and machinery.