KUALA LUMPUR: Yong Tai Bhd, a tourism and cultural-related property developer, has secured a contract to develop an international cruise terminal in Impression City Melaka.
Wholly-owned subsidiary Yong Tai Bhd Impression Sdn Bhd today accepted the letter of approval from from the Melaka government, the company said.
“The proposed development to be built on Kawasan Bandar VI, Daerah Melaka, is part of Yong Tai’s flagship mixed development project with estimated gross development value of RM8 bil,” it said in a filing with Bursa Malaysia.
The group also entered a memorandum of understanding with maritime passenger terminal operator Singapore Cruise Centre Pte Ltd (SCC) to engage SCC as terminal operation and management consultant for a fee of S$120,000 (RM361,584) .
Yong Tai Bhd CEO Datuk Wira Boo Kuang Loon said the cruise terminal development would be integrated with the group’s Terra Square mixed development project in Impression City, which is also linked to Encore Melaka theatre.
“The completion of the cruise terminal is slated to be a major game changer for Impression City, further strengthening the mega-project’s gross development value over the long run,” he said.
Boo said the cruise terminal was also expected to create greater footfall to the Terra Square retail mall, as it would be integrated with the proposed development. – Jan 20, 2020 Bernama