MSM Malaysia Holdings Bhd and Kilang Gula Felda Perlis Sdn Bhd have entered into two long-term contracts to purchase raw sugar from Louis Dreyfus Commodities Suisse SA and Sucres Et Denrees.
The contracts are to secure a consistent supply of raw sugar at fixed prices that take into account the prevailing global market, said MSM in a filing with Bursa Malaysia.
The contracts have been renegotiated and renewed for the next three years commencing from Jan 1, 2012 and expiring on Dec 31, 2014, it said.
The long-term contract entered into in the early part of 2009 expired on Dec 31, 2011, it added. -- Bernama
Source: www.btimes.com.my
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