Through economic challenges and disruptions of 2020, MSM Malaysia Holdings Berhad (MSM) continued to persevere, displaying good reliability and uninterrupted delivery to our customers. It was a year to focus on the health and safety of our people and foster stronger team spirit as we redefined our vision and mission and charted a new three-year strategic roadmap (BP21) towards increasing growth momentum. The Group’s ultimate targets are to achieve downstream integration and cost optimisation by 2023 with effective implementation of the proposed action items outlined within BP21.
Monetise non-core assets
Synergising international trades with regional reputable players
Financial performance was mainly affected by lower sugar consumption in the Domestic segment due to MCO
Balancing production capacity within MSM Group’s operation – MSM Prai and MSM Johor
Launch of Premium Prai’s products (Sugar Stevia Mix and Sugar Sucralose Mix)
Further exploration downstream into sugar related business
Export value-added sugar products (new SKU)
Reduce raw sugar stock holding via “Just-In-Time” mechanism
Improving production efficiency and yield to reduce refining cost
Discontinued non-strategic operations – complete discontinuation of MSM Perlis operations on 30th June 2020
Energy cost saving projects are being explored
Target of 30% female representation at all levels
Global and local markets were hit by an unprecedented impact from COVID-19 in 2020 that continues to reverberate into 2021. This has changed the landscape of business and challenged many industries, some of which, such as travel and hospitality, are recording immense setbacks following the travel bans and other virus containment measures imposed by the Government.