Malaysia Smelting Corporation (MSC) has lodged a preliminary prospectus with the Monetary Authority of Singapore for the listing of its shares on the Singapore Exchange (SGX). If successful, it would make the company dual-listed on the Bursa Malaysia and the SGX.
MSC is a 73%-owned subsidiary of The Straits Trading Company, which is one of the oldest public companies in Singapore. MSC first announced its plans for a Singapore listing in September, saying the secondary listing would help open it up to more investors in the region. MSC had a market capitalisation of RM336.75 million ($141 million) at the end of the year and its shares had risen 21% in Malaysia during 2010. It operates mines and smelters in Malaysia and Indonesia (though its 75%-owned subsidiary PT Koba Tin) producing some 43,900 tonnes of refined tin in 2009.
