MSM Malaysia Holdings Bhd, the country's largest refined sugar producer, respects the government''s decision not to increase refined sugar price.
The market leader, with 60 per cent domestic market share, said sugar was gazetted under the Price Control and Anti-Profiteering Act 2011 (Determination of Maximum Price - No.2, Order 2017).
The public should be rest assured that MSM is committed to providing steady and sufficient sugar supply for the nation, especially with the upcoming Aidilfitri celebration, it said in a statement today.
The company said while there was a late gradual decline in international raw sugar prices, the global sugar commodity was heavily operating in a volatile market environment.
"We continue to engage with the government and update them on the global sugar market and are hopeful for a favourable outcome," MSM said.
MSM is a unit of Felda Global Ventures Holdings Bhd and its flagship product, Gula Prai, is the premium sugar brand in Malaysia.
-- BERNAMA
Bernama
Wed May 24 2017
While there was a late gradual decline in international raw sugar prices, the global sugar commodity was heavily operating in a volatile market environment. - Photo for illustration purpose
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