Subsidiaries and Associates
Copyright © MMC Corporation Berhad (30245-
A History over a Century Old
First founded in London as Malayan Tin Dredging Limited in 1911, the Company transferred its domicile to Malaysia by incorporating Tin Dredging (M) Berhad (MTD) in 1976, then the largest Malayan tin dredging group in Malaysia. In 1981, MTD merged with New Tradewinds Sdn Bhd which had earlier taken over London Tin Corporation (LTC), the world's largest tin mining company, adopting the name Malaysia Mining Corporation Berhad to become the world's largest integrated tin producer. The Company was listed on Bursa Malaysia on 12 July 1977.
The Need for Change
In 1983, the Company made a calculated business decision to cease tin mining operations in Malaysia in view of increasing operational costs, low tin grades, shortage of labour and the shrinking demand for tin worldwide. The Company, however, maintained its gold and diamond mining operations in Australia through Plutonic Resources Limited (Plutonic) and Ashton Mining Limited. The 1997 merger of Homestake Mining Company (Homestake) with Plutonic resulted in the Company's associate interest in Plutonic being replaced by an investment stake in Homestake. MMC sold its stake in Homestake in 1998 and its stake in Ashton in 2000.
Since the onset of the new millennium, MMC has been undergoing a process of transformation. The Company has divested virtually all of its mining interests with less than one percent of its revenue coming from this sector. Today, MMC is focused on achieving its vision of becoming a premier Utilities and Infrastructure group.
8 April 2021
MMC Group announced that it has embarked on a major digital transformation of five ports, in partnership with global software solutions leader, Ramco Systems Limited. The digital transformation will enable all the ports under MMC to consolidate various business support functions (namely Finance, Human Resource, Enterprise Asset Management, Supply Chain Management, and Logistics Management) into a single integrated Enterprise Resource Planning system.
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