MSM slips into the red in 4Q with RM16mil net loss

MSM group chief executive officer Syed Feizal Syed Mohammad

KUALA LUMPUR: MSM Malaysia Holdings Bhd slipped into the red with a net loss of RM16.16mil in the fourth quarter ended Dec 31, 2021 (4Q21) against a net profit of RM56.22mil a year prior.

The loss in the current quarter is due to lower gross margin due to higher raw sugar, freight and gas costs incurred in this quarter compared to the same quarter last year, according to MSM.