PETALING JAYA: The New Straits Times Press (NSTP) media group is selling one of its printing plants for RM25 million, according to an advertisement carried by its flagship paper, New Straits Times (NST), today.
The property, with a land area of about 58,000 sq metres and a built-up area of 9,000 sq metres, is located at the Ajil Industrial Area in Hulu Terengganu, Terengganu.
The site was among two printing plants — the other in Senai, Johor — that the newspaper was reported to have decided to shut down last year, believed to be due to dwindling revenues from newspaper sales and advertising.
A former top editor with the company, Mustapha Kamil, had said staff had been given a choice to either move to the printing plants in Prai (Penang) or Shah Alam (Selangor), or resign.
“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, who resigned in May last year citing disappointment with NST’s coverage of the 1MDB controversy, wrote on Facebook in September 2016.
NSTP is owned by Media Prima Berhad, and also publishes Berita Harian and Malay tabloid Harian Metro.
An Audit Bureau of Circulation (ABC) report showed that newspaper sales in Malaysia had been on the decline since last year, as opposed to the more popular digital media.
In 2014, ABC said that sales of NST went down by more than 30%. -FMT