JAKARTA (Yosefardi) – Malaysia Holdings Berhad (MSM), the largest sugar producer in Malaysia, allocates US$750 million, equivalent Rp10 trillion, for establishing modern sugar mill in Indonesia, Investor Daily reported.
Sugar mills in Indonesia owned by PTPN are designed by Dutch colonialists and has aged more than 100 years.
MSM only has 10,000 hectares of sugar plantation field, then it imports raw sugar from some countries. Now imported raw sugar prices fluctuates amid the dollar appreciation.