KUALA LUMPUR (April 8): MSM Malaysia Holdings Bhd has temporarily shut down its refinery at the Tanjung Langsat Industrial Complex in Pasir Gudang.
In a bourse filing, the group said the plant operated by its unit, MSM Sugar Refinery (Johor) Sdn Bhd (MSM Johor) will be shuterred for two months from March 31.
It explained that the temporary production shutdown is to allow for the plant’s boiler rectification after a breakdown. Upon completion, this would enable the plant to achieve its targeted utilisation factor by the third quarter of 2021.
MSM said that during the temporary shutdown, it will use available refined sugar stocks at MSM Johor on top of being supported by production at its second refinery, MSM Prai, for domestic and export market supply.
“With these measures, there will be no material impact on operations, earnings per shares and net assets per share of the company arising from the temporary production shutdown,” the company said.
Shares in MSM closed unchanged at RM1.76, valuing the group at RM1.24 billion. The counter saw 7.74 million shares traded.
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