MELAKA RIVER LED LIGHTING FROM 2017

Beginning next year, Melaka River LED lighting showwith technical support from Japanese company

HANG TUAH COMMERCIAL CENTRE DEVELOPMENT

Hang Tuah Commercial Centre, Catalyst For Melaka's Inland Development

By Fadzli Ramli

MELAKA, April 9 (Bernama) -- After the successful development of Melaka Raya, Kota Laksamana, Pulau Melaka and Klebang on reclaimed land, the state government will now move forward to undertake inland development such as the Hang Tuah Commercial Centre.



Chief Minister Datuk Seri Idris Haron said the centre would require an investment of between RM400 million and RM500 million for the first phase of its development.

The centre which would be sprawled across Jalan Hang Tuah, Jalan Tun Ali, Pengkalan Rama, Kampung Morten to Melaka Sentral would comprise a hypermarket, transportation hub, tourist attractions, residences and institutions of higher learning.

"The state executive council meeting has agreed in principle to the development of the commercial centre in a move to balance reclaimed land and inland development in the state," he told Bernama here Saturday.

He said the focus of the inland development was to raise the socio-economic status of the people in the area.

"The centre will also focus on academic development. Right now, Universiti Teknologi MARA and Universiti Teknikal Malaysia Melaka have their campuses here," he said, adding that eight developmental projects over 40.5 hectares is expected to be ready in five years.

Idris said two projects which would be the pillars of the commercial centre are the reconstruction of the Hang Tuah Hall and the construction of the Melaka Foundation building.

He said the existing two-storey Hang Tuah Hall will be rebuilt into an eight-storey building. It will continue to house a library but the clock tower within would be upgraded into the main landmark in the commercial centre.

The 25-storey Melaka Foundation building, to be completed in three years costing RM120million, will houses offices and a 252-room hotel that would generate income for the foundation.

Idris said the state government also planned to redevelop buildings which had no more historic value within the Hang Tuah Commercial Centre

"The affected buildings will be refurbished to look attractive so as to be able to generate economic activities in the area," he said, adding that traffic congestion, the drug menace and prostitution will become a thing of the past.

-- BERNAMA

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.

Impression Melaka

“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.

TAGS / KE

DEWAN HANG TUAH TO BE REDEVELOPED

Current Dewan Hang Tuah

In March 2016, Chief Minister of Melaka announced plans to redevelop the current Dewan Hang a Tuah into a new multi storey Dewan Hang Tuah.

The current 2 storey building has reached her age of about 40 years or more. Time has come to turn the area into multi purpose building. The library that used to be there can be turned into Melaka Dewan Hang Tuah Library. Office tower block, hotel and convention centre can be planned.

Future Dewan Hang Tuah

The strategic location is a good marketing point as it overlooks Melaka river and it is near to Jonker walk, Panggung Melaka and Heeren Street as well.

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.

MALACCA-GUANDONG DAILY FLIGHTS FROM JULY 2016 FROM MALACCA INTERNATIONAL AIRPORT

MALACCA: Malacca will be receiving two direct flights every day from Guangdong from July this year.

Chief Minister Datuk Seri Idris Haron said that Southern China Airlines would operate the flights, which will use Batu Berendam International Airport.

“The flight frequency would be increased if the response is good,” hesaid after chairing the weekly Exco meeting on Wednesday.

He said Malacca hopes to tap million of Chinese tourists with the flights, while also encouraging locals to holiday in China, adding that the state government will request for the Federal Government to provide e-Visa facilities at Batu Berendam.

Idris added that Malacca has set up its own gallery in Guangdong to promote the state.

“We have also met up with various key industrial figures during our recent visit to China and they are keen to expand their businesses here,” he said.

HAPPY EASTER

This Friday is Good Friday and Monday is Easter.
Tourism Melaka wants to extend our blessed Easter greetings to all Christians on this auspicious weekend.
Happy Easter.