COVID–19 NEWS   COVID: Rise in new infections, drop in death cases last week - Health DG | South Korea’s COVID-19 vaccine candidate inches closer to launch after experts' approval Recommendation | More than 16 million adults in Malaysia given the COVID -19 booster dose | Lebanon faces new wave of COVID-19: Ministry | Malaysia, India agree on mutual recognition of COVID-19 vaccination certificates | 
BUSINESS

MSM Malaysia wants govt to review price of sugar

20/05/2022 05:45 PM

KUALA LUMPUR, May 20 (Bernama) -- MSM Malaysia Holdings Bhd (MSM Malaysia) has requested the government to review the price of sugar amidst ongoing cost pressure issues.

MSM Malaysia group chief executive officer Syed Feizal Syed Mohammad said there was no timeline for the matter and leaves it to the government to decide, however, the review should be done accordingly.

“Our guarantee is for the country and the rakyat, but at the same time, we also need to operate profitability.

“We are in talks with the government so they understand our cost pressure (from) freight shipping, gas energy and foreign exchange movement,” he told reporters at MSM Malaysia’s Hari Raya celebration, here today.

He added that the sugar refiner will still continue operations for the sake of food security in the country.

Syed Feizal noted that the impact of rising sugar prices is not expected to have a significant strain on households.

The price of refined sugar was raised by 11 cents in 2017, and then a price reduction of 10 sen per kilogramme (kg) was announced in 2018, resulting in an increase of one sen in 2011.

Currently, the retail price for coarse white sugar is RM2.85 per kg.

-- BERNAMA


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy