KUALA LUMPUR: MSM Malaysia Holdings Bhd (MSM), the country’s leading refined sugar producer and a subsidiary of Felda Global Ventures Holdings Bhd (FGV), swings back to the black in its first quarter (Q1) ended March 31, 2018. MSM posted a net profit of RM15.81 million against a net loss of RM34.62 million recorded a year ago. In a filing to Bursa Malaysia, MSM said earnings per share for the quarter under review stood at RM2.25 against RM4.93 in loss per share in Q1 2017. “While the circumstances were unfavourable in 2017, the first quarter performance shows encouraging signs towards a healthy balance sheet. MSM continued to strengthen its operational focus by marking down its raw sugar cost by 23.1 per cent against the same quarter last year.

Source: New Strait Times May 23, 2018 08:48 UTC