MSM narrows net loss to RM20.8mil in 2Q

MSM group chief executive officer Syed Feizal Syed Mohammad

KUALA LUMPUR: The sugar industry continues to face prolonged high input costs owing to rising raw sugar costs, freight, and natural gas costs as well as weaker ringgit, according to MSM Malaysia Holdings Bhd.

“Despite stronger demands seen in the local and export markets, the high input costs continue to impede the improvement of the group’s financial performance,” MSM group chief executive officer Syed Feizal Syed Mohammad said in a statement.