KUALA LUMPUR – March 22, 2017: Media group New Straits Times Press (NSTP) is selling its printing plant in Terengganu for RM25 million.
Free Malaysia Today (FMT) in a report on Monday highlighted an advertisement of the sale offer in NSTP’s English daily, New Straits Times (NST) .
The plant, consists of 9,000 sq metres of built-up area and 58,570 sq metres of land area, is located at Ajil Industrial Area in Hulu Terengganu.
The plant and another one in Senai, Johor, were shut down by NSTP last year.
The FMT report quoted a Facebook posting by former NST group editor Mustapha Kamil in September last year about the closure of the printing plants.
“I believe the closure of the two plants are steps by the company to avoid incurring further losses, brought about by dwindling newspaper sales and advertisement revenue,” Mustapha posted.
It was also mentioned in the FMT article that an Audit Bureau of Circulation (ABC) report showed the decline in newspaper sales in Malaysia since last year, as opposed to digital media.
The report further stated that in 2014, ABC found that sales of the NST went down by more than 30 per cent.
NSTP is owned by Media Prima Berhad. It also publishes Malay daily Berita Harian and tabloid Harian Metro.