Straits Trading, unit aim to develop Penang land

KUALA LUMPUR: Singapore-listed Straits Trading Co Ltd and its unit, MSC Properties Sdn Bhd, are looking to develop their land in Butterworth, Penang.

MSC Properties is a subsidiary of tin producer Malaysia Smelting Corp Bhd which, in turn, is 54.8 per cent owned by Straits Trading.

MSC said it currently had a tin smelting plant on a 5.58ha site in Butterworth.

Straits Trading also owns neighbouring land in Butterworth totalling 10.53ha. In total, both parcels span 16.12ha.

These land parcels are just five to 10 minutes’ drive to the upcoming Penang Sentral, a multibillion ringgit integrated transportation hub connecting the railway, ferry and bus services in the state.

MSC is relocating its smelting operations from Butterworth to a new plant in Pulau Indah, Klang. It expects full migration to be completed by 2020.

MSC chief executive officer Datuk Dr Patrick Yong said Butterworth was evolving into an attractive location for residential and commercial developments, considering the spillover development on Penang Island into the mainland.

“The Penang Transport Masterplan is expected to significantly enhance the transportation infrastructure, improving the connectivity of people and businesses between Penang and the mainland. It will encourage more Penang residents to live and work on the mainland.”