MSM Malaysia Holdings Berhad (MSM), incorporated on 10 March 2011, possesses a sugar heritage that dates back to the formation of Malayan Sugar Manufacturing Company Limited (MSM Co.) - a joint venture between Kuok Brothers Sdn Bhd, Mitsui & Co. and Nissin Sugar Manufacturing Company that was established to reduce Malaysia's dependence on imported refined sugar.

On 26 May 1971, another private limited company Kilang Gula Felda Perlis Sendirian Berhad (KGFP) was incorporated as part of the Perlis Sugar Project, to diversify and develop Malaysia's agro-based industries.

Until 2010, PPB Group Berhad (PPB) had a 100 percent interest in MSM Co. and a 50 percent interest in KGFP, and also owned 5,698 hectares of sugar cane plantation land in Chuping, Perlis. In January 2010, Felda Global Ventures Holdings Berhad (Felda Global) acquired PPB's entire sugar business in Malaysia and a 20 percent stake in Tradewinds (M) Berhad for a total consideration of RM1.5 billion.

The acquisition transformed Felda Global into a dominant sugar player in the country and led to the listing of MSM on Bursa Malaysia Securities Berhad's (Bursa Malaysia) Main Market in June 2011 - presenting the public with a chance to participate exclusively in Malaysia's sugar business for the first time ever.

Today, MSM is one of the top 60 companies on Bursa Malaysia with a market capitalisation of RM2.4 billion.