The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo
TOPLINE

Straits Trading Company makes bold move in Malaysia with Penang’s Straits City project

The 40-acre mixed-use development in Butterworth aims to establish a vibrant hub of retail, residential, office and leisure spaces

Tan Ai Leng

Tan Ai Leng

Published Mon, Nov 4, 2024 · 05:00 AM
    • Eric Teng, chief executive officer at Straits Developments, expects the Straits City project to transform Butterworth from an industrial area into a vibrant, sustainable urban community.
    • Eric Teng, chief executive officer at Straits Developments, expects the Straits City project to transform Butterworth from an industrial area into a vibrant, sustainable urban community. PHOTO: BT FILE

    SINGAPORE-BASED Straits Developments, the property development arm of Singapore-listed Straits Trading Company, is taking a strategic leap into Malaysia’s real estate market with Straits City, a landmark mixed-use project in Butterworth, Penang. 

    Traditionally focused on commodities and financial services, the company is betting on the economic growth of Malaysia’s northern corridor, aiming to transform 40 acres of prime seafront into the Penang mainland’s next central business district. 

    The Straits City project is co-owned by Straits Trading and its 52-per-cent-owned subsidiary Malaysia Smelting Corporation (MSC).

    Malaysia propertyStraits TradingAseanAsean Business

    TRENDING NOW

    CapitaLand Investment is a leading name among Singapore’s corporates and has numerous institutional and retail shareholders. 

    CapitaLand Investment’s retrenchments: Mind the downsides of a profitable business laying off staff

    Almost a million 16 to 24-year-olds are out of work or education entirely, a Neet (not in education, employment or training) crisis, as it is known in the UK.

    ‘Low hire, low fire’ labour market: Britain’s boomers cling to jobs as young get locked out

    Vertical solar panels integrated into buildings are cited as one of several examples of green pathways that data centres can adopt.

    Singapore’s new data centres must use renewables. Can they overcome the hurdles?

    According to Canadian Prime Minister Mark Carney, the Trump administration wants a say in Canada’s trade negotiations with other countries.

    Will the US-Canada tariff war irrevocably damage bilateral ties?

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More