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Boo Kuang Loon

IMPRESSION CITY BY END 2017

Yong Tai Berhad : bullish on Impression City
     
02/24/2016 | 03:12 am
KUALA LUMPUR: YONG Tai Bhd expects its RM5.4 billion project in Malacca to generate net profit margin of 20 per cent, which would help to sustain the company’s earnings in the long term.

The garment maker-turned-property developer, which has been loss- making for several years, expects to return to the black this year with contribution coming from the real estate sector.

The company, which has pockets of developments in the Klang Valley and Johor, is planning to develop Impression City on a 47.03ha site in Malacca.

The project would be developed in 11 phases and over 10 years, said its executive director Boo Kuang Loon.

Construction for Phase 1 would start in the third quarter of this year and feature retail and commercial units, said Boo at a luncheon hosted by MIDF Amanah Investment Bank Bhd, here, yesterday.

It is expected to have a gross development value of RM1.1 billion,

The catalyst for the commercial-led Impression City is the Impression Melaka performing arts theatre, to be built on the 47.03ha site.

Construction of Impression Melaka, the jewel of the company, will start next month at a cost of RM300 million and includes land acquisition. The opening is slated for end-2017.

Boo said although Impression Melaka required a huge capital investment, the returns would be long term and attractive.

It would take two years to construct and the projected returns would start from 2018 onwards, he added.

With 15 million tourists visiting Malacca annually, Yong Tai hopes to attract at least 1.1 million visitors to Impression Melaka, with 40 per cent coming from China.

The company is also targeting visitors from Southeast Asia (30 per cent), Asia (20 per cent) and the rest from the Middle East, Europe and the United States.

“With two shows a day and tickets priced at RM120 per person, we are poised to achieve a revenue of RM140 million a year, including the sale of souvenirs and merchandise. For this business, we are targeting a profit margin of 50 per cent. This would net us a profit of around RM60 million a year.

“There are many more upsides, such as increasing the ticket prices and having up to four shows a day. This is the potential of Yong Tai in the future,” said Boo.

“For the next two years we are at the investing stage and would generate profits. But the profits would not be much to give dividends,” he said.

Article source: http://tourism-melaka.blogspot.com/feeds/posts/default

IMPRESSION MELAKA TO BE READY BY END 2014

Impression Melaka Launched as Part of the Overseas Expansion Plan of the “Impression” Series

BEIJING, May 16, 2013 /PRNewswire/ — Impression Melaka was launched at the Beijing Hotel on the afternoon of May 15. Present at the press conference were the Ambassador of Malaysia to China Datuk Iskandar Sarudin, Ambassador of China to Malaysia Datuk Chai Xi, Chief Director of the “Impression” Series Ms. Wang Chaoge , and PTS Impression SDN BHD CEO Mr. Boo Kuang Loon. The event marked the official launch of Impression Melaka, the first foreign leg of the large-scale live-action show of the “Impression” Series, which is a new cultural and creative brand of China.

The signing ceremony was held in a typical Chinese way. PTS CEO Mr. Boo Kuang Loon and Chief Director Ms. Wang Chaoge stamped the scroll of Impression Melaka with a Chinese seal together, which marked the launch of the program.

The Ambassador of Malaysia to China Datuk Iskandar Sarudin observed that Melaka had a long history with China. Over 600 years ago, the Chinese navigator Zheng He visited Melaka several times during his voyages, and built a bridge between the two nations. He pointed out that Malaysia needed a unique, world-class cultural program like the Impression Series to help with the development of its local tourism, and increase the international reputation of the city. The federal, state, and municipal government will provide full support for Impression Melaka. The Ambassador of China to Malaysia Datuk Chai Xi said that the year 2014 marks the 40th anniversary of the establishment of the diplomatic relations between China and Malaysia and Impression Melaka is sure to be an important part of the celebration.

Chief Director Ms. Wang Chaoge said that Impression Melaka, as her 10th “Impression” event, will make new breakthroughs while continuing the tradition of the Impression Series to introduce to the world a real Melaka. Mr. Boo Kuang Loon explained that he grew up in the ancient city of Melaka, and had always dreamed of introducing the beautiful and magnificent city to the world. After years of investigation and research, he decided that the Impression Series was the one that could help him realize his dream. That was why he invited the team of the Impression Series to Melaka. He stressed that Impression Melaka would become a beautiful pearl of Melaka, and a new mark of the city’s culture and tourism.

Malaysian investment development authority director Datuk Ng Peng Hay described the situation of Melaka, Malaysia as having the best economic record in Asia, becoming the third largest economy in Southeast Asia and playing an important role in Malaysia’s economic development. Besides, Melaka is also a historic city with a rich cultural heritage. The Impression Melaka will show Melaka’s rich unique history and cultural heritage through artistic creation, and become the new cultural tourism project of Melaka, which will play an important role for Melaka’s sustainable economic development and inheritance of history and culture.

The Impression Series launched its first live-action show, Impression Liu Sanjie, in 1998, which turned out to be one of the greatest initiatives of the performance market of the world as well as China, with artistic and technical breakthroughs, real landscape as the scene, modern artistic designs, and splendid visual effects. The Impression Series has now grown into the No. 1 live-action show brand of China after the following eight events, including Impression Lijiang and Impression West Lake.

The “Impression” team chose Melaka as the first stop of its overseas expansion because it’s one of the few historic cities in Southeast Asia, and one of earliest ports of the world that bridges the western and the eastern part of the world. It embraces immigrants from both the West and the East, and generates a unique culture demonstrating characteristics of different countries, including languages, religions, and customs. Still preserving the ancient look, the city was included in the UNESCO “World Heritage List.”

Impression Melaka, as the 10th event of the Impression Series, will open in Melaka at the end of 2014.

Article source: http://tourism-melaka.blogspot.com/feeds/posts/default