TOURISM-RELATED property developer Yong Tai Bhd through its wholly-owned subsidiary PTS Impression Sdn Bhd (PTSI) has entered into a strategic collaboration agreement with 828 Asia Pte Ltd, a subsidiary of the Singapore-based Ebenex Group, an integrated end-to-end event technology group.
Formalised on Feb 28, the collaboration revolves around the iconic Encore Melaka Theatre, a cornerstone of Yong Tai’s portfolio that symbolises innovation and cultural celebration.
PTSI, the owner and operator of the state-of-the-art Encore Melaka Theatre, with its impressive 360-degree rotating platform and approximately 2,000 seats have established itself as a leading landmark attraction in the historical city’s waterfront area.
Recognised as Melaka’s jewel in the crown, the theatre has captivated international and local tourists with its unique offerings and immersive experiences.
Meanwhile, 828 Asia Pte Ltd which is a prominent event and concert organiser brings a wealth of expertise and experience into the collaboration with its strong industry presence whereby it is well-positioned to market, promote and organise a series of remarkable events within the Hatten City @ Melaka and Encore Melaka Theatre.
Under the terms of the collaboration agreement, PTSI will provide 828 Asia Pte Ltd with periodic access to the Encore Melaka Theatre in addition to the necessary expertise, technical support and manpower.
The collaborative efforts between PTSI and 828 Asia Pte Ltd aim to capitalise on the immense business potential and development opportunities presented by hosting events in the Encore Melaka Theatre.
By leveraging the unique features and capabilities of the theatre, the partnership seeks to create unforgettable experiences for audiences and further enhance Melaka’s reputation as a premier destination for world-class entertainment.
The first event from this collaboration is expected to take place in April 2024, marking the beginning of a series of exciting cultural and entertainment initiatives. This collaboration is expected to contribute positively to Yong Tai by diversifying its portfolio and enhancing its position in the tourism and cultural sectors.
“The expertise of 828 Asia in event organisation combined with our iconic Encore Melaka Theatre will undoubtedly create an extraordinary platform for delivering exceptional entertainment experiences to visitors from around the world, according to Yong Tai’s CEO Datuk Wira Boo Kuang Loon.
“This partnership not only aligns with our vision to be at the forefront of innovative tourism developments but also reinforces our commitment to cultural and economic growth in Melaka,” opined Boo who was reinstated as the group’s head honcho on Feb 1 after his initial resignation on May 10 last year.
Added 828 Asia’s director David Toh: “We are excited about the immense potential of this collaboration. Together with PTSI, we look forward to delivering exceptional events that will captivate audiences and contribute to the cultural and entertainment landscape of Melaka.”
At the close of today’s trading, Yong Tai was down 0.5 sen or 2.13% to 23 sen with 524,200 shares traded, thus valuing the company at RM87 mil. – March 4, 2024
