PETALING JAYA: Analysts have raised their earnings forecast for MSM Malaysia Holdings Bhd following the reported increase in the retail price of sugar. “Overall, we are more positive on MSM following the sugar price revision. It said the hike in raw sugar prices did not come as a surprise as refiners have been appealing to the government for higher prices as they were hit with shrinking margins due to higher raw sugar costs. The latest price increase of 11 sen per kg represents an increase of 3.8% in the selling price. Maybank IB Research maintained its “hold” call on the sugar refiner with a higher target price of RM4.70, saying the hike in retail sugar prices will help MSM to partly mitigate rising raw sugar costs.

Source: The Star March 02, 2017 23:34 UTC