MSM Malaysia : UNVEILS THE FIRST EV-VAN FOR LAST MILE DELIVERY

MEDIA RELEASE

For Immediate Release

MSM UNVEILS THE FIRST EV-VAN FOR LAST MILE DELIVERY

EV implementation in logistic operation strengthen the company's ESG commitment

KUALA LUMPUR, SEPTEMBER 21, 2023 - MSM Malaysia Holdings Berhad (MSM), the producer of the leading national refined sugar brand "Gula Prai", through its logistics arm and subsidiary, MSM Logistics Sdn Bhd today unveils its first Electric Vehicle (EV) van for last mile delivery in the Klang Valley as part of its ongoing initiative to decarbonisation and boost sustainable logistics operations.

The Weststar Maxus eDeliver 3 EV has a WLTP (Worldwide Harmonized Light Vehicle Testing Procedure) range of 344km per full charge. It is also equipped with the CCS2 connector allowing faster DC charging up to 45 minutes per full charge. With lush green wrapped around the vehicle, Gula Prai brand is prominently visible to the public.

MSM Group Chief Excutive Officer, Syed Feizal Syed Mohammad said, "In line with National Automotive Policy and our strong ESG commitment, we acknowledge the benefits of EVs in reducing carbon dioxide (CO2) emissions and actively taking practical measures to incorporate them into our logistics operations in creating a sustainable future for the future generation.

"Apart from the EV van, this year MSM Logistics has purchased eight prime movers to replace the ageing fleet. For this new truck, average fuel consumption is around 2.3 Km/L -

1. Km/L. Comparing to those old fleet, average fuel consumption ranging from 1.6 Km/L to

1. Km/L. By transitioning to a Euro5 diesel fleet, we are aiming at better fuel consumption which reduce carbon footprint per km travelled," Syed Feizal add.

MSM Logistics will be supporting MSM Group's ESG commitment with a 5-year asset acquisition plan to purchase and replace all old-ageing fleet in order to improve truck uptime, increase productivity and tonnage delivered while reducing CO2 emissions. To further strengthen its operations, MSM Logistics recently received ISO 9001:2015 certification for its quality management system as well as in the process of obtaining the Halal certification for the company.

MSM Logistics is expanding to transport services, warehousing, freight forwarding, and others value added services. MSM Logistics currently manages 42 own assets with a strength of 42 drivers supported by third party logistics (3PL), and specialist in interstate, short and long haul trucking services via chartered and scheduled movement which efficiently delivers sugar to MSM customers throughout Malaysia.

MSM is the 10th corporate and second food-based company in Malaysia to commit to the Science Based Targets initiative (SBTi), a collaborative effort involving the United Nations Global Compact (UNGC) and the Net-Zero Ambition initiative.

-ENDS-

About MSM Malaysia Holdings Berhad (MSM)

MSM Malaysia Holdings Berhad (MSM) is Malaysia's leading refined sugar producer and one of the biggest sugar refiners in Asia. MSM is involved in producing, marketing and selling refined sugar products under the "Gula Prai" brand. The company conducts its business principally through two operating subsidiaries, MSM Prai Berhad and MSM Sugar Refinery (Johor) Sdn Bhd. In addition, MSM also operates a logistics company - MSM Logistics Sdn Bhd.

At present, MSM's annual production capacity is up to 2.05 million tonnes of refined sugar. In 2022, MSM produced 946,834 tonnes of refined sugar, of which 230,903 tonnes are catered for the export market. Currently, MSM corroborates up to 60% of the domestic market share. MSM has been listed on the Main Market of Bursa Malaysia since 2011 and has a market capitalisation of RM598 million as at 30 December 2022. MSM combines economic success with environmental protection and social responsibility for a sustainable future.

MSM offers a variety of products ranging from white refined sugar of various grain sizes to soft brown sugar. These are marketed and sold in a variety of packaging options under its flagship brand - Gula Prai. MSM also sells molasses, a by-product of the refining process, to distilleries and producers of ethanol, animal feed and yeast, among other products. Aside from household consumers, MSM sells to a wide range of customers in Malaysia and in other countries directly and indirectly through traders, wholesalers and distributors. Its customers include major companies in the beverage and confectionery industries, hotels, restaurants and food outlets.

For more information, please visit www.msmsugar.com

Forward Looking Statements

Certain statements in this media release regarding MSM's operations may constitute forward-looking statements. These statements can be identified by key words such as "believes", "estimates", "anticipates", "expects", "intends", "may", "will", "plans", "outlook" and other words of similar meaning in connection with a discussion of future operating or financial performance. These statements relate to the plans, objectives, goals, strategies, future operations and performance of MSM. Actual results and outcomes may differ materially from those projected in any forward-looking statements due to various events, risks, uncertainties and other factors. We neither intend to nor assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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