Equity Analysis /

MY : MSM Malaysia Holdings - Johor refinery suspension explained

    Ivy Ng Lee
    Ivy Ng Lee

    Head of Malaysia Research, Regional Head of Agribusiness

    12 April 2021
    Published byCGS-CIMB

    MSM said it brought forward plans to suspend its Johor refinery operations. It did not specify details of the boiler issues but said that their rectification will improve the plant’s utlisation rate. Maintain Reduce. We remain concerned over earnings risks due to this issue.