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Impression City

THE [email protected] CITY, MELAKA

KUALA LUMPUR: Yong Tai Bhd will unveil its latest property development in Melaka – The Dawn – a condominium-hotel with a gross development value of RM343mil on July 21 to 23.

The tourism and cultural property developer said on Monday The Dawn will be built within its multi-billion-ringgit Impression City in Kota Laksamana, Melaka.

The [email protected] Impression City, to be built on a five-acre site, will comprise of one 28-storey block and another 29-storey block, and it will have all the facilities that a condominium-hotel living can provide to its residents.

The units are open for booking at Yong Tai’s headquarters at Jaya 99, Level 6 Tower A, Jalan Tun Sri Lanang, Melaka.

It is the first series of hotels in Impression City which are being designed towards the theme of the theatre productions. The condotel will be integrated into the 138-acre Impression City.

Fronting the scenic Straits of Malacca, it is just 2.5km from Melaka’s heritage site and sited next to a major coastal road.

The Dawn is developed parallel with the Impression Melaka iconic theatre – a mega cultural performance and landmark project in Impression City.

Yong Tai expects Impression Melaka to attract up to two million tourists every year. Hence, investors can be assured that the prime location and excellent condotel facilities will deliver impressive investment returns.

The Dawn comprises of 590 standard suites, 28 pool suites, 20 Jacuzzi suites and 10 VIP suites.  It has 712 parking bays on the ground floor up to level five.

The standard, pool and Jacuzzi suites will each have a floor area of 46 sq metres or 494 sq ft, while the VIP suites floor area is 92 sq metres or 988 sqf.

As part of the RM7bil Impression City, The Dawn is slated to be completed by end 2020. 

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

IMPRESSION CITY

KUALA LUMPUR: DBS Group Research is making a buy call on Yong Tai Bhd, envisioning long-term earnings visibility as the tourism-related property developer’s Impression City and Impression Melaka projects ride on the booming Chinese tourism.

“As the first Impression Series outside China, the Malacca Straits-fronting Impression Melaka is poised to be a resounding success by tapping into the booming Chinese tourism in Malaysia, which has seen an impressive 11% tourist arrivals CAGR (compound annual growth rate) over 2000-2016 (versus 1% for Malaysia’s overall tourist arrivals),” the report said.

The stock was trading at an undemanding nine times FY18 price-earnings, it said, calling this “grossly unjustified.”

The report, prepared by AllianceDBS Research, gave a 12-month price target of RM2.10. The counter closed unchanged at RM1.48 on Wednesday with 1.4 million shares done.

DBS Group Research said Impression Melaka – featuring a live, large-scale, cinematography show using light and sound technology – offered a compelling value proposition given its estimated 20% internal rate of return over the 30-year concession from Impression Wonders Art Development Co Ltd of China.

This would transform Yong Tai into an emerging cash cow with strong recurring income, it reckoned.

The report said that the Malacca property market was under-appreciated despite its “immense potential” as the target was not just confined to its 900,000 local population but also more than 16 million tourists that visited the World Heritage City annually.

“Yong Tai’s impressive unbilled sales of RM990mil – anchored by en-bloc sales of 262 retail lot units in Impression City for RM873mil – will underpin strong earnings visibility strong earnings visibility over the next two years,” said DBS Group Research.

The report said Impression City’s attractive investment merit was under-appreciated by investors, and the official opening of Impression Melaka in February 2018 would be a major catalyst.

“Given Yong Tai’s unrivalled competitive advantages arising from its unique tourism appeal and synergistic property product offerings, it iss expected to deliver exponential earnings per share CAGR of 57% over FY16-FY19f,” AllianceDBS Research said.

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

YONG TAI EXPANDS LAND BANK IN MALACCA

Yong Tai Acquires Two Parcels of Land in Malacca
• March 22, 2017


Key player in the tourism and cultural development in Malacca, Yong Tai Berhad will embark on two mega property projects with GDV of RM2.3 billion.

Yong Tai Bhd has acquired two parcels of land within the Impression City project in Malacca from Mustazah Osman and Laila Endut of Laila Development Sdn Bhd for RM35 million, reported The Sun Daily.

In a Bursa Malaysia filing, Yong Tai revealed that the acquisition price will be funded via a mix of bank borrowings and/or internally generated funds.

The property developer intends to develop the six acre land into a mixed development project comprising retail units, a hotel and serviced apartments.

With a gross development value (GDV) of RM1.1 billion and a gross development cost (GDC) of RM800 million, the project, which is set to be completed in five years, will yield a potential gross profit of RM300 million.

Meanwhile, Yong Tai’s fully-owned unit YTB Impression Sdn Bhd has inked a joint development agreement with JM Bestari Land Sdn Bhd for the development of another piece of land in Melaka Tengah.

Set to be completed in five years, the project will include retail, office and commercial units.

It is expected to have a GDV of RM1.2 billion and a GDC of RM800 million, resulting to a potential gross development profit of RM400 million.

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

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

MELAKA HISTORICAL CITY TO CELEBRATE HISTORICAL CITY DAY ON 15TH. APRIL 2016

On this coming Friday, 15th. April 2016, Melaka will celebrate her 8th. Anniversary for being declared as Melaka Historical City Day.

In 2015, arrivals of local and foreign tourists to Melaka top 15.7 million. This is an all time high and hopefully Melaka can aim for 20 million visitors by 2020.

There are new attractions being planned and constructed.

A big project by Yong Tai group is Impressions Melaka and Impression City. Chinese and Malaysian investors are involved in this multi billion project.

Melaka Gateway is another major project at Pulau Melaka which includes a new marina, hotels and shopping area. International Cruise ships can berth safely in Melaka as well.

Impression Melaka is an international show directed and put together by Chinese renowned director, Zhang Zi Mou and is scheduled to be opened by end 2017.

This World class shows will be performed at night and guests are expected to spend at least one night for these shows. By doing so, guests must stay in hotels around Melaka including enjoying our food and beverages. Major spin offs are expected for Melaka.

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