MSM Malaysia Holdings Bhd’s net loss narrowed by 68% in its second quarter ended June 30, 2020 from a net loss of RM67.33 million in the same quarter of the previous year attributed to a higher overall margin of 3.8% and lower finance cost.
Moving forward, it will continue to focus on sustainable growth strategies which include product diversification to penetrate into export markets and increase profitability. He elaborated that the anticipated sales delivery during the festive season of Ramadan and Aidilfitri were also affected and the shift in sales composition in view of deteriorating domestic demand further strained the revenue.
MSM revealed that higher industry and export sales volume offset the 37% decline in wholesale segment for the first half year of 2020.