Tag: Yong Tai

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Travel to Melaka

THE DAWN@IMPRESSION 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 Dawn@ 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. 

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Travel to Melaka

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.

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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.