Letter to Editor
THE recent 16% plunge in MSM Malaysia Holdings Bhd’s share price—the refiner’s worst one-day performance in nine months—offers a stark reminder of the mounting pressures on Malaysia’s domestic sugar industry.
Yet beneath these headline numbers lies a deeper truth: MSM and the broader sugar sector are strategic national assets rooted in our history, climate, and entrepreneurial legacy.
Long before global markets were upended by oversupply and subsidised exports, Tan Sri Robert Kuok, our “Sugar King”, built Malaysia’s sugar-cane business from the ground up.
His success was not merely commercial; it reflected Malaysia’s fertile soils, reliable monsoons, and the tenacity of our planters.
Today, as cheap Thai and Indian sugar floods regional markets and global trading dynamics evolve, it is time to rekindle that pioneering spirit.
Reviving sugar-cane plantations in Malaysia is not just a nostalgic gesture. It makes commercial and strategic sense. In Sabah and Sarawak, raw sugar remains scarce and costly, pushing up prices for consumers and industrial users alike.
By re-establishing even a few thousand hectares of cane fields in these regions where soil and rainfall conditions once supported thriving operations Malaysia can reduce import dependence, improve supply resilience, and contribute to domestic price stability.
The Trump administration’s tariffs on steel and aluminium highlighted how vulnerable supply chains are to geopolitical shifts. Malaysia’s sugar sector must similarly guard against external shocks.
Strengthening local production not only shields Malaysia from price volatility but also revitalises the rural economy, benefiting smallholders, agro-processors, and logistics providers through renewed investment in cane cultivation.
A revitalised sugarcane industry would do more than support companies like MSM’s balance sheet. It would reaffirm Malaysia’s credentials as an agricultural innovator, generate meaningful rural employment, and honour the legacy of visionaries like Kuok.
Now is the time for stakeholders, from policymakers to private investors, to recognise the strategic value of home-grown sugar.
Let us sweeten our own future, not sugarcoat our reliance on others. ‒ May 29, 2025
Timothy Lam
Penang
The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia.
Main image: TMR/Muhd Amin Naharul
