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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.

DPM to launch Malaysia’s Pavilion at World Expo Milano 2015

DPM to launch Malaysia’s Pavilion at World Expo Milano 2015

http://www.nst.com.my/node/83622

MILAN, 9 May: Malaysia is poised to expand its relations with the European Union, be it in trade and investment or people-to-people connectivity. Deputy Prime Minister Tan Sri Muhyiddin Yassin urged the EU business community to discover, or re-affirm, Malaysia’s attraction as the preferred investment destination in Southeast Asia.

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Speaking at the launch of the Malaysia Pavilion at the World Expo Milano 2015 here today, Muhyiddin highlighted the country’s strong economic fundamentals, underpinned by comfortable levels of external reserves, low external debt, low unemployment, and healthy inflows of foreign direct investments. However, he acknowledged there were challenges, which the country was determined to meet to ensure and sustain growth. “We expect to grow to hold steady between 4.5 and 5.5 per cent this year despite the global economic environment,” Muhyiddin, who is on a three-day working visit to this Italian city, said.

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The deputy prime minister arrived here on Thursday. Muhyiddin said the success of the Economic Transformation Programme (ETP) launched in 2010 coupled with the Government Transformation programme (GTP) could be seen in the country’s trade and investment numbers. “We attracted a total of USD68 billion in investments, both foreign and domestic.

The services and manufacturing sectors continued to play the leading role with 63.4 per cent and 30.5 per cent contribution respectively towards the approved investments in 2014. “In terms of trade, Malaysia’s total trade expanded by two per cent to total about USD445 billion in 2014, compared with about USD435 billion in 2013.” Muhyiddin also spoke on the country’s improvement in competitiveness based on reports by international organisations such as the World Bank, the World Economic Forum and the Swiss Institute of Management Development.

The establishment on the Asean Community by Dec 31, this year, he added, would mark the fruition of the grouping’s goal of creating a regional entity of “one vision, one community, one identity”. “A key aspect of the Asean Community is the Asean Economic Community (AEC), designed to create a single market and production base in Asean. The establishment of the AEC at the end of this year sends a powerful signal that Asean is commited to market liberalisation and the facilitation of trade and investment.”

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On the Malaysia Pavilion which carries the theme Towards a Sustainable Food Ecosystem, Muhyiddin said its design reflected the nation’s rich biodiversity, and drew inspiration from a humble seed, a symbol of growth. The expo, held for the first time in 1914, showcases participating countries’ technologies in ensuring food sustainability.

Open to the public from May 1 to Oct 31, some 20 million visitors from around the world are expected to visit its 1.1 million square metres of exhibition area. A total of 145 countries are taking part in the expo this year, which would provide Malaysia a platform to display its development from an agricultural country to what it is today, as well as promote trade and investment. Visit http://www.malaysiapavilion2015.com.my/ for more details.

Best 10 Malacca Tourist Attractions you should not miss

There are plenty of tourist attractions in Malacca and the fact that the city is a UNESCO heritage site, every street and corner became an attraction for visitors. People that have visited Malacca would tell you why it is one of the best places to visit in South East Asia. Whether you want to go for fun, foodie venture, historical tour or natural beauty, Malacca is one of the best stations in Malaysia.

Best 10 Malacca Tourist Attractions

There are plenty of Malacca attractions for tourist to visit see. We have compiled list of the best 10 Malacca tourist attractions, which should not be miss.

1. Melaka Wonderland Theme Park

For fun lovers, Melaka Wonderland Theme Park is the best Malacca tourist attraction. You would find one of the best theme park of Asia in here. It is located in the area of Ayer Keroh. You would not feel any less entertained than any of other theme parks. The clean blue water in the ponds and pools will wash away your worries and you would never regret putting Melaka Wonderland on the top of your list. Slide, twirl, jump and get thrilled in Melaka and be a cheery child again!

Read more about Melaka Wonderland Theme Park

2. The Stadthuys

When back from Malaysia, you will surely like to tell your buddies that you actually visited a seventeenth century building; The Stadthuys in Melaka. It is one of the Malacca tourist attractions for history lovers while not the only one. It is said that it is the oldest structure of Dutch architecture that survived in Melaka. The colonial time structure lives in the shape of gigantic walls, wide windows and heavy doors. The reddish brown, wooden-iron structure is the place to visit if you want to see oldest Malacca buildings.

Among all Malacca tourist attractions, this one should not be missed. The picture of The Stadthuys can be seen in plenty of postcards in Melaka as well.

Read more about Stadthuys Melaka

3. A Famosa Fort

Can’t tell if your picture with A Famosa Fort where a cannon on your right will be most liked or the one with the cannon on your left. But the A Famosa Fort trip is going to be fun and your buddies will love to comment on your pictures at A Famosa Fort. Reason? The fort got history, sight, location and architecture. It is sixteenth century building that survived only enough to tell you where the fort stood. A Famosa Fort reminds of the Portuguese rule in the country. The only thing the fort misses till today is; A picture with you.

Read more about A Famosa Fort

4. Baba Nyonya Heritage Museum

Probably among the first Chinese to enter Malacca, and introduced a culture that will mix with Malay’s to give birth to a unique and celebrated culture of Chinese-Malays or the Baba Nyonya. The Baba Nyonya Heritage Museum is one of the finest depiction of culture of the Chinese Malay people. You would love to see the art, architecture, furniture, style and bridal rooms of the culture that are still saved in the museum.

Read more about Baba Nyonya Heritage Museum

5. Melaka Zoo

I love the way my Chinese friend calls it an animal garden. The Malacca Zoo offers same species of animals you would not find anywhere else in the world. There are no two headed dogs or four headed snakes. What makes Melaka Zoo Ayer Keroh specialty is to offer an environment where animal moves freely and yet providing safe environment to the visitors as well. Seriously, I don’t like talking to animals with them behind the bars. Animals are no prisoners! You would love the stalls in the zoo too and will certainly appreciate a guided tour.

For animal lovers, Melaka Zoo is a must visit tourist attractions in Malacca.

Read more about Melaka Zoo

6. Bukit China

The China Hill in Melaka is home to a number of graves of Chinese ancestors in Malaysia. At first sight, you won’t believe that it is a graveyard. The reason is that the greaves are spread at an area and the graves are not simply pile of rocks. They hold memorials of the ancestors. There are around 12,500 graves. People jog here since the scenery is good and the area is green and fresh.

7. Butterfly Reptile Sanctuary

Malacca Butterfly Reptile Sanctuary is a serious endeavor. You will find here the cutest parrots, the most colorful big size butterflies and the haunting thick snakes. The sanctuary also called Taman Rama Rama, offers you view of the best crocodiles in the town! A Must visit if you doubt it and again a must visit Malacca attractions if you believe it.

8. Jonker Walk

If you have been to Malacca before then you probably took a walk in the famous Jonker Street once or twice. You also bought something from the street or ate from one of the local restaurants. The street is so popular among the tourists that the local authorities have made an attraction by the name of Jonker Walk. If you are visiting Malacca then you should experience Jonker Walk in the famous Jonker Street.

The street became live mostly past sunset and that’s the best time to visit this local attraction. There are plenty of stalls on both side of the street selling various stuff. You will find a lot of souvenirs as well and the local food.

Read more about Jonker Walk Melaka

9. Menara Taming Sari

One hundred and ten (110) meters tall tower, the Menara Taming Sari Melaka is a great Malacca tourist attractions for those that love to see how the city looks at a glance. The Tower offers a 360 degree view allowing you to see different places, their locations and distances. Operational since 2008, the tower is visited by most of tourists at night because the city turns into a very mystical place at night as seen from above.

Read more about Menara Taming Sari

10. Maritime Museum Melaka

You would find another Melaka attraction a little ahead of the Stadthuys. It is the Maritime Museum that offers you model of ship that does not belong to this century. You have probably seen such ships in movies but here you will come to know that this model is Portuguese and the ship is replica of ship that sank in the coast of Malacca. This model is 34 meters high and 8 meters wide. The Museum preserves the history of Malacca, particularly its maritime history.

Read more about Maritime Museum Melaka

Please let us know what do you think of best 10 Malacca tourist attractions list. Share your experience by adding comments below.

Photo Credit: Phalinn Ooi