MSM Malaysia aims to increase export volumes in 2025, going deeper into China, ASEAN
KUALA LUMPUR: MSM Malaysia Holdings Bhd is targeting a significant jump in export volumes of value-added products like liquid sugar and premixes from MSM Johor this year.
The group aims to ramp up exports to 360,000 tonnes in 2025, up from 240,000 tonnes last year, leveraging enhanced production capacity from its Johor refinery (MSM Sugar Refinery (Johor) Sdn Bhd) and strategic partnerships, said its group chief executive officer Syed Feizal Syed Mohammad.
He said MSM seeks to penetrate deeper into China's high-potential market while consolidating its position in ASEAN, as part of its strategic move to expand its export footprint.
'We are not venturing into a new market, as China has been an established market.
'But, with increased capacity and better efficiency at our Johor refinery, MSM now has more room to produce additional volumes beyond domestic needs, making it logical to scale up exports,' he said after the company's 14th Annual General Meeting here today.
He said MSM is banking on its premium quality sugar and existing ties with China Oil and Foodstuffs Corporation (Cofco Group), which is one of China's largest state-owned agribusiness (agricultural business) conglomerates and food importer, to expand sales of both refined sugar and value-added products.
'Our wide range of sugar products exports currently comprises about 15 per cent to 20 per cent of MSM's overall sales portfolio, while more than 60 per cent of the group's exports are already destined for ASEAN markets.
'With Korean companies importing our sugar and China sourcing from players like Korea, we believe we can compete meaningfully. Our products are already proven in regional markets,' he added.
Syed Feizal said MSM has undertaken operational improvements to support its export ambition, with the Johor facility recently achieving 50 per cent utilisation over two continuous weeks, while the Perlis refinery is operating at 80 per cent to 85 per cent.
'The group's overall production yield has risen to 94 per cent from just 18 per cent a year ago,' he said.
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