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SUSTAINABILITY JOURNEY HOW WE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 61

Q What were the operational highs and lows for the year?
A

A significant operational high was on the export front as Another upside for MSM was that we managed to increase
we successfully increased export markets and secured a our Average Selling Prices while stabilising volume, which is
RM290 million refined sugar supply contract with not an easy task. To this end, we initiated a collective strategy
The Coca-Cola Company (Coca-Cola) for both domestic and with customers to understand the rise in NY11 pricing that
international production. We are proud that our sustainable squeezes refining margins. This increase has helped ensure
practices and good operational reliability elevated our value profits in a challenging year.
proposition among stiff competition. The opportunity to be
part of Coca-Cola’s supply chain, the world’s most valuable Low points for the year involved the breakdowns and
soft drink brand, was part of our export blueprint to be one of volume disruptions at MSM plants due to technical matters,
the top global integrated sugar refiners. environmental impact and COVID-19 issues. Sadly, we lost four
workers (three employees and a contract worker) as a result
This accomplishment is an added boost to MSM Group having of COVID-19 and early last year a contract worker had a fatal
achieved a turnaround in FY2021. It reflects recognition of our fall. These incidents exemplify the need to continuously guard
step-up commitment towards the ESG framework, reliability against COVID-19 and lapses in safety procedures to uphold
as a source of sustainable raw sugar supply and capability in our goal of zero harm to people, property and environment.
maintaining the highest standard of food safety and quality. Going forward we are now more mindful and armed with
This fortifies MSM’s commitment to deliver on ESG goals with preventive measures and proactive responses.
greater initiative and urgency going forward.