Impact of rising global sugar prices on MSM

PETALING JAYA: MSM Malaysia Holdings Bhd is expected to remain in the red in the first half of financial year 2023 (1H23) given lack of clarity on its proposal to float retail sugar prices and likely inability to raise the utilisation rate of its sugar refinery in Johor.

CGS-CIMB Research, in its latest report, is also slightly negative on the group’s fundraising plans that would likely be earnings per share (EPS) dilutive if it involves a share placement exercise.