Tourism and cultural related property developer Yong Tai Berhad (Yong Tai -Bloomberg: YTB:MK, Reuters: YONG.KL) yesterday signed offtake agreements with six travel agents for a total of one million tickets for Impression Series – Encore Melaka which is targeted for premiere by second quarter this year.
Datuk Wira Boo Kuang Loon, the Chief Executive Officer of Yong Tai said the offtake agreements of up to 3 years, demonstrate the six travel agents’ commitment and confidence in Encore Melaka.
“The one (1) million tickets represent approximately 70% occupancy of our yearly full capacity, based on 2 shows per day. There is still 30% upside in ticketing sales via Online Travel Agency or our own online ticketing platform,” he said in a media statement.
Encore Melaka theatre is nestled within the Impression City development, a RM7.0 billion gross development value cultural tourism properties development in Melaka which will be developed in stages on a 138-acre parcel of land.
Sitting on a 15-acre site, Impression Series- Encore Melaka is the first international standard Indoor theatre in Malaysia with a 360-degree rotating auditorium with a total capacity of approximately 2,000 seats. It is a franchise and the 10th Impression Series and first outside of China, which is a hit among tourists.
The show will be the story of Melaka brought to life by approximately 200 local talented performers in colourful period costumes, exuberant stage settings and spectacular lighting and audio effects.
Speaking to reporters after the Strategic Alliance Signing Ceremony, Datuk Wira Boo said the Encore Melaka theatre will have significant contribution to the Group’s revenue for the financial year ending 30 June 2019 (FYE2019) when the theatre opens its door in second quarter this year.
“Encore Melaka theatre is expected to contribute at least RM60 million in net profit per year when fully operational,” he added.
Yong Tai has entered into several Agreements with companies such as Bank of China, Majestic Express Holidays Sdn Bhd, Apple Impression Holiday Sdn Bhd, Levingo Travel Sdn. Bhd., Shanghai Ctrip International Travel Service Co., Ltd, Coachliner 707 Travel & Tours Sdn. Bhd., WTS Travel & Tour Pte. Ltd., Kirin Financial Group Limited, Hong Kong and Agile Motion Sdn Bhd for the development of Encore Melaka theatre and Impression City.
The Signing Ceremony was witnessed by Datuk Seri Mohamed Nazri bin Abdul Aziz, Tourism and Culture Minister; Datuk Ir. Dr. Wee Ka Siong, Minister in the Prime Minister’s Department and Dato Syed Norulzaman bin Syed Kamarulzaman, Chairman of Yong Tai Berhad.
Photo caption from above – left to right:
1) Paul Lam (蓝树保), Chief Financial Officer, Yong Tai Berhad
2) Dato Kenny Ng (拿督黃美錦), Independent & Non-Executive Director of Yong Tai Berhad
3) Dato Sri Lee Ee Hoe, JP , (拿督斯里李益輝太平紳士,) Executive Director of Yong Tai Berhad
4) Datuk Wira Boo Kuang Loon (拿督威拉巫光伦), Chief Executive Officer of Yong Tai Berhad
5) YB Datuk Seri Ir. Dr. Wee Ka Siong (拿督斯里魏家祥), Minister in the Prime Minister’s Department
6) YB Dato’ Seri Mohamed Nazri bin Abdul Aziz, Minister of Tourism and Culture Malaysia
7) Dato’ Syed Norulzaman bin Syed Kamarulzaman , Chairman of Yong Tai Berhad
8) Dato’ Seri Abdul Khani Daud, Deputy Director General of Promotion, Ministry of Tourism and Culture Malaysia
9) Mr Zhang Jie Xin (张杰鑫）, Director, Cultural Office, Embassy of of the People’s Republic Of China
10) Dato’ Beh Hang Kong (馬漢坤 ), Executive Director of Yong Tai Berhad
11) Mr. Subramaniam A/L A.V Sanker, Independent & Non-Executive Director of Yong Tai Berhad
12) Mr. Wong Kam Peng (黃金炳), Calligrapher
13) Miss Zoe Tan(陈盈盈), Chief Operating Officer, Yong Tai Berhad