Tag: Impression Melaka

Categories
Travel to Melaka

MELAKA IMPRESSIONS AND IMPRESSIONS CITY IMPACT ON YONG TAI

KUALA LUMPUR: RHB Research projects a multi-fold rise in net profit for Yong Tai as the former garment company focuses on property development.

“This would be underpinned by the Impression City project, which would see a potential total gross development value (GDV) rise to RM6.1bil from RM164mil currently,” it said.

The research house said this  ought to keep the group busy for the next eight to 10 years. Impression Melaka, it added, offers a further upside to both earnings and valuations.

“We estimate a valuation range of RM1.03 to RM1.18,” it said as it initiated coverage.

RHB Research said in line with the group’s overall expansion plan into the property sector, Yong Tai has announced several proposals.

They are the RM37mil acquisition of a 17 acre plot in Melaka (Impression Land) for the development of a theatre to produce the Impression Melaka as well as the acquisition of PTS Impression (to hold a 30-year license to stage the show) for RM3mil. It also has a joint venture to develop 100 acres of land adjacent to the Impression Land.

The company is also undertaking a fund-raising exercise to raise more than RM300mil.

“The proposals are expected to be completed/take effect by 1HFY17 (June),” it said.

RHB Research said Impression Melaka, which is the first of its kind outside China, is a live cinematography show that utilises the latest light and sound technologies, modern art concepts and cultural performers.

This is to be the first live largescale Impression Series outside of China and is one of the “entry point project” within the National Key Economic Area (NKEA) initiative for the tourism sector. The performing arts centre is estimated to cost RM300mil, with completion targeted for end-2017.

“Management expects Impression Melaka to contribute RM50mil to RM60milper annum in bottomline thereafter,” it said.

The research house said Impression City is expected to contribute RM5.4bil to total GDV. Concurrent with the construction of the theatre for Impression Melaka, Yong Tai is to develop the land adjacent to it (the development collectively known as Impression City).

The mixed development project includes residential, commercial and retail units. The total GDV over an eight to 10 years period is estimated to be RM5.4bil.

“Management believes the Impression Melaka project would spur the growth of tourism and related industries such as real estate, hotels and eateries, that is catalysts for Impression City.

“We project for Yong Tai to turn around and post a net profit of RM14mil in FY17, accelerating to RM64mil in FY18. This is underpinned by the progress of its property projects. Our forecasts do not factor in the contribution from Impression Melaka, which we have pushed to FY19.

“We derive an indicative valuation estimate range of RM1.03 to  RM1.18 (fully diluted) based on SOP. The low end of our valuation range excludes Impression Melaka while, for its property development business, we have ascribed a 40% discount to its RNAV.

“The top end of our valuation range incorporates the show, where we estimate the business to be worth RM107mil based on DCF. We see upside to our valuation for Impression Melaka as execution risks ease. Our indicative valuation estimate range implies an FY18F P/E of seven to eight times (10.6 to 12 times, fully diluted),” it said.

Categories
Travel to Melaka

PARK HOTEL MELAKA

Park Hotel Group has signed a management contract with a subsidiary of Jaya Mapan for its first hotel in Malaysia.

The Park Hotel Melaka, scheduled to open in H1 2019, is Park Hotel Group’s sixth country and ninth city in its development pipeline.

Located in the heart of Kota Laksamana’s entertainment and business district, the 245-key new build Park Hotel Melaka is 90 minutes from Kuala Lumpur International Airport and a 10 minutes’ drive from the Melaka Sentral bus and taxi terminal.

The hotel will be part of The Green, a mixed-use development that also comprises retail outlets, shop offices and serviced apartments.

BW Lim International is behind the design of the development that seeks to create a new lifestyle urban living environment by incorporating contemporary landscape features into open, green spaces.

In addition to 245 guest rooms, the 16-storey hotel will feature a bistro and rooftop bar, as well as a complete range of facilities including an infinity pool, a sauna, gymnasium, business centre and meetings rooms.

A plethora of dining and shopping choices are within close proximity, with the vibrant Jonker Walk and famous attractions such as the historical A’Famosa fortress, St. Paul’s Church and Baba and Nyonya Museum less than 10 minutes away.

For business travellers, the commercial area in Melaka Raya is easily accessible in 5 minutes.

“Listed as a UNESCO world heritage site, Melaka is a beautiful city with a wealth of history and unique blend of cultures and experiences to offer. Upcoming developments such as the Melaka Gateway and Impression Melaka are also set to transform the city, ushering significant investors and travellers to this part of Malaysia,” said Mr Allen Law, Chief Executive Officer of Park Hotel Group.

Park Hotel Group owns and manages 13 hotels in Singapore, Malaysia, Indonesia, Hong Kong, China, Japan and Australia. The group extended its portfolio to resort properties with Park Hotel Nusa Dua, Bali last year. Park Hotel Farrer Park, the group’s 5th hotel in Singapore is scheduled to open at the end of this year. Its first hotel in Australasia – Park Hotel Adelaide is slated to open in 2018

Categories
Cuisine in Melaka

IMPRESSION MELAKA

Impression Melaka’ Launched Next Year As Iconic Tourism Product

KUALA LUMPUR, Sept 3 (Bernama) — The ‘Impression Melaka’ project, to be launched in October next year, is set to become one of the iconic tourist attractions for Visit Malaysia 2014.

Tourism and Culture Minister Datuk Seri Mohamed Nazri Abdul Aziz said ‘Impression Melaka’ was the latest entry point project within the Tourism National Key Economic Area (NKEA).

“In line with NKEA, this RM213.2 million project is estimated to attract 1.2 million tourists per annum, generating RM179 million GNI (Gross National Income) into the economy,” he told a press conference here Tuesday.

Mohamed Nazri said the project would also create approximately 500 direct, and thousands of indirect job opportunities to locals, apart from attracting foreign investments, and boost local livelihood.

He noted that the project was the first and only Mega Outdoor ‘Impression’ Series outside China, and exclusive in Malaysia, as the first location in the Southeast Asia region.

“This project will add a key highlight to Malaysia and contribute to making Malaysia a preferred destination,” said the minister.

‘Impression Melaka’, he said, would showcase a perfect combination of natural environment as the background, whilst utilising the latest light and sound technology, modern art concepts and huge number of cultural performers.

He said ‘Impression Melaka’ would host two or three shows every night, with each show lasting between 70 and 90 minutes, with rotating audience seating which could accommodate up to 2,000 visitors per performance.

“This unique tourism product will feature a mega outdoor performance directed by world-acclaimed Zhang Yimou, Wang Chaoge and Fanyue, the directors of the 2008 Beijing Olympic opening and closing ceremony,” said Mohamed Nazri.

— BERNAMA

Categories
Cuisine in Melaka

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.