Former CFO to return to MSM Malaysia as Group CEO, Bursa filing expected tomorrow: Sources

 

Mazatul ‘Aini, who reportedly had resigned as MSM Malaysia group chief financial officer (CFO) on August 12, 2024 to join a financial institution, is expected to officially assume the GCEO role from Tuesday. Pic credit: MSM Malaysia Holdings Bhd

KUALA LUMPUR: MSM Malaysia Holdings Bhd is expected to announce Dr Mazatul 'Aini Shahar Abdul Malek Shahar as its new group chief executive officer (GCEO), marking a return to the sugar producer.

According to sources, the appointment is slated to be announced via a filing with Bursa Malaysia as early as tomorrow.

Mazatul 'Aini, who reportedly had resigned as MSM Malaysia group chief financial officer (CFO) on August 12, 2024 to join a financial institution, is expected to officially assume the GCEO role from Tuesday.

First appointed as CFO in December 2022, she was previously on garden leave from October 2023 to February 2024 to facilitate an internal investigation, before ultimately departing.

Her return is widely seen as a move to ensure leadership continuity and operational familiarity, particularly as MSM Malaysia continues to manage cost pressures and regulatory considerations in the domestic sugar industry.

The appointment comes amid ongoing challenges for the company, including volatility in raw sugar prices, currency fluctuations and margin pressures linked to the regulated nature of Malaysia's refined sugar market.

MSM Malaysia has also been focusing on improving operational efficiency at its refineries while maintaining supply stability for the domestic market.

MSM Malaysia does not currently have an active GCEO in place following a leadership transition at the start of 2026.

Mazatul Aini is understood to be succeeding Hasni Ahmad who ceased serving in the acting GCEO role on Dec 31 2025 after the expiration of his contract.

Hasni had served as the acting GCEO following the resignation of Syed Feizal Syed Mohammad in July 2025.

Industry observers said Mazatul Aini's financial expertise could be instrumental as MSM Malaysia navigates its next phase, particularly in strengthening cash flow management, enhancing cost controls and supporting longer-term strategic initiatives.

MSM Malaysia is a key player in the local sugar market, operating refineries in Prai and Johor, and plays a critical role in ensuring domestic sugar supply. -  NST