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CORPORATE PROFILE  
     
  The MSC Group is currently one of the world’s leading integrated producers of tin metal and tin based products and a global leader in custom tin smelting since 1887. In 2009, the Group produced 43,862 tonnes of tin metal thus maintaining its global position as the third largest supplier of tin metal.

With the Group’s core expertise and solid foundation of over a century of smelting excellence to its credit, the Group’s smelting facility in Butterworth operates one of the most cost efficient smelting plants in the world converting primary, secondary and often complex tin bearing ores into high purity tin metal for industrial application.The plant has a production capacity of approximately 35,000 tonnes of refined tin a year.
MSC Straits refined tin brand which is registered at London Metal Exchange (LME) and Kuala Lumpur Tin Market (KLTM) is accepted worldwide and has purity ranging from the standard Grade A (99.85% Sn) to the premium grade electrolytic tin (99.99% Sn).

The Group’s Indonesian operations are primarily undertaken through its two subsidiaries - 75% owned PT Koba Tin and wholly owned PT MSC Indonesia as well as through its 40% associate, PT Tenaga Anugerah.

PT Koba Tin operates a large capacity bucket-line dredge and gravel-pump mining units in rich alluvial grounds within an area of 41,680 hectares under a contract of work agreement with the Government of Republic of Indonesia. PT Koba Tin has its own smelter with a production capacity of 25,000 tonnes of refined tin a year and produces the premium grade Koba brand (99.9% Sn) which is also widely consumed as a premier brand with superior quality. PT MSC Indonesia is the Group’s vehicle for undertaking exploratory programmes to search for new on-shore and offshore tin deposits in Indonesia. It has recently started a gravel-pump mining operation in Bangka and is currently developing additional two units. Its offshore mining operations which commenced last year are undertaken using two cutter suction dredges. PT Tenaga Anugerah has secured production sharing rights in offshore tin mining areas in Indonesia and currently operates two off-shore cutter suction dredges around Bangka Island.

In November 2004, MSC acquired Rahman Hydraulic Tin Sdn. Bhd. (RHT), Malaysia’s long established and largest operating open-pit eluvial tin mine. Extensive exploration works and improvements of milling/concentrator circuit and recovery operations have been undertaken since the takeover and today RHT is a sustainable and significant tin producer in Malaysia.

In October 2007, MSC entered into a joint venture agreement with Guangxi Guilin Jinwei Realty Co. Ltd and Vertex Metals incorporation of Taiwan to enable it to own and operate a tin smelting plant in the Guangxi province. The Company’s stake in this joint venture is 40%. The smelting plant is located in Linqui, Guangxi and is expected to have a targeted annual production capacity of 10,000 tonnes of refined tin and tin based products.

 
The Group has a 40% equity interest in Redring Solder (M) Sdn Bhd. Redring Solder’s principal activities are the manufacture and sale of solder products for jointing and semi-conductor applications in the electrical and electronics industries.  The inclusion of Redring Solder provides vertical integration to the Group’s tin smelting business and an entry into a profitable downstream solder manufacturing business with significant growth potential.

GROWTH STRATEGY
The Group’s niche expertise in tin is continually being strengthened in all areas over the entire global tin supply chain covering geology, mining, mineral processing, smelting, marketing and resource management and financing.

MSC will pursue its growth strategy on its core business in tin through strategic acquisitions and organic growth where its core expertise, skills and capabilities can add value and make a difference particularly in increasing operating efficiencies, innovating products and services and forging global commercial and marketing networks to ensure its continued leadership position in the industry.

OTHER METALS AND MINERALS
Consequent upon a decision made in 2009 to reposition the Group to focus on its original core business of tin, MSC has initiated a programme to divest some of the Group’s non-tin investments and assets.

The Group’s non-tin investments comprise 22.12% interest in a listed gold and copper associate in Australia, BCD Resources NL; a 18.22% interest in a Canadian listed nickel associate, Asian Mineral Resources Limited; a 30% interest in a polymetallic mine (producing copper, zinc, gold and silver in concentrates) in the Philippines; a 76.91% Australian listed subsidiary, Australia Oriental Minerals NL (AOM); and a 53% effective interest in a coal development project in Indonesia.

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