SUGAR refiner MSM Malaysia Holdings Bhd has not performed well over the past few years owing to myriad issues that have adversely impacted its bottom line. A 51%-controlled company of plantation outfit FGV Holdings Bhd, MSM enjoys a commanding 60% market share of the local sugar refining business. But although it is the dominant player in a duopoly, the company has suffered losses in three out of the past five financial years, prompting questions on what ails it and when investors can expect sweeter returns.
Gas Malaysia Bhd, which is being sued by MSM Malaysia Holdings Bhd over a disputed sum of RM10.32 million relating to gas supply to MSM Malaysia's sugar refinery unit in Johor, said it maintains its stand that it had acted in accordance with the gas supply agreement inked by the unit.
Here is a brief recap of some corporate announcements that made news on Friday (Nov 11) involving IHH Healthcare Bhd, Carlsberg Brewery Malaysia Bhd, Gas Malaysia Bhd, MSM Malaysia Holdings Bhd, Kelington Group Bhd, Muar Ban Lee Group Bhd, Pharmaniaga Bhd, Catcha Digital Media Bhd and MyEG Services Bhd.
MSM Malaysia Holdings Bhd has filed a lawsuit against Gas Malaysia Bhd over a disputed sum of RM10.32 million relating to gas supply to its wholly owned unit MSM Sugar Refinery (Johor) Sdn Bhd (MSM Johor).
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