MSM eyes exports to Africa, China

KUALA LUMPUR: Refined sugar producer, MSM Malaysia Holdings Bhd, plans to export its products to African countries and China in the near future amid heightened domestic competition.

Chairman Datuk Wira Azhar Abdul Hamid said the company, which holds the majority share of the domestic market, was still carving out its strategy on whether to become a producer in foreign markets or only serve them from Malaysia.

“We see growing demand from the African region while China is a peculiar market because it used to be self- serving but has become a net importer of sugar,” he told reporters after the company’s annual general meeting yesterday.

On its upcoming sugar refinery in Tanjung Langsat, Johor, Azhar said MSM was currently putting the final touches and the plant would be ready for production in July.

The refinery’s production will gradually reach its maximum capacity of one million metric tonnes in 24 months.

“The Johor plant is huge and there are interested parties that want to take a stake in it. We are talking to these external parties right now.

“The idea is to optimise our assets and resources,” he said, adding that the company targeted the Johor plant to break even in six years.

As soon as the refinery’s operation stabilises, MSM’s board of director would announce a new chief executive officer (CEO) for the company, Azhar said.

The sugar refiner is currently in the process of reviewing both internal and external candidates.

To recap, MSM appointed Mohd Shaffie Said as Acting CEO effective Jan 22, following the decision by its then-president and Group CEO Datuk Mohamad Amri Sahari not to return to work.

In a filing with Bursa Malaysia on the same date, the company denied Mohamad Amri’s claim that he had been constructively dismissed.