Asia Honour Paper Industries Explained

Asia Honour Paper Industries (M) Sdn. Bhd
Former Name:Malaysian Newsprint Industries
Type:Private Limited Company
Industry:Pulp and paper
Products:Newsprint
Owner:Asia Honour (Hong Kong) Limited
Num Employees:>200
Location:Level 12, Wisma Averis (Tower 2) Avenue 5 Bangsar South City, No 8 Jalan Kerinchi
Hq Location City:59200 Kuala Lumpur
Hq Location Country:Malaysia

Asia Honour Paper Industries (M) Sdn. Bhd., formerly known as Malaysian Newsprint Industries Sdn. Bhd. (abbreviated MNI), is a pulp and paper company based in Malaysia. It operates a single pulp mill and paper mill in Mentakab, Pahang, which produces an annual 280,000 tonnes of newsprint sourced entirely from deinked pulp from recycled paper.[1] In 2017, MNI was the largest supplier for Media Chinese International Ltd, which owns local mandarin newspapers such as Sin Chew Daily and Nanyang Siang Pau.[2]

History

The company was established in 1996, in an attempt to allow Malaysian and Singaporean newspaper to source their newsprint without having to import. The company was established as a joint venture between the New Zealand newsprint manufacturer Fletcher Challenge Paper, the Malaysian family conglomerate the Hong Leong Group, each with 33.65 percent of the shares, with the remainder split between the New Straits Times Press and Rimbunan Hijau. The mill opened in April 1999, having cost 500 million United States dollars. Fletcher Challenge Paper was bought by Norske Skog in 2000, who took over the ownership stake in MNI.[3]

Losses and subsequent sold off

On 2 May 2018, citing the declining newsprint demand, MNI's then owner Hong Leong Industry Berhad and the New Straits Times sold off their respective shares for RM22.3 million and RM14.15 million respectively to Asia Honour (Hong Kong) Limited.[4] By then, the company had been making losses for three consecutive years. Subsequently on 17 February 2020, Malaysian Newsprint Industries Sdn Bhd officially renamed and rebranded to Asia Honour Paper Industries (M) Sdn. Bhd. to reflect its new owner.[5]

Notes and References

  1. Web site: Our mill . Malaysian Newsprint Industries . 17 July 2015 . https://web.archive.org/web/20150501230853/http://www.newsprint.com.my/mill.html . 1 May 2015 . dead .
  2. Web site: Adela Megan . Willy. 2017-08-01 . Malaysian Newsprint Industries initiates voluntary liquidation . 2023-03-22 . The Edge Markets.
  3. Book: Pollen, Geir . Geir Pollen

    . Geir Pollen . Langt fra stammen . 2007 . Oslo . . 978-82-05-34625-3 . Norwegian . 267.

  4. Web site: 2018-05-04 . Hong Leong Industries, Media Prima sell stake in MNI to Asia Honour Hong Kong . 2023-03-22 . The Edge Markets.
  5. Web site: 2020-02-17 . Malaysia Newsprint Industries (MNI) is now Asia Honour Paper Industries . 2023-03-22 . Asia Honour Paper Industries (M) Sdn. Bhd . en-US.