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US firm to invest $493m in M'sian theme park

Publication Date : 09-01-2013

 

US-based theme park operator Six Flags Entertainment Corp is planning to invest between 1.2 billion ringgit (US$394.47 million) and 1.5 billion ringgit ($493.09 million) to set up a theme park in Iskandar Malaysia.

Sources told StarBiz that the theme park, which will be double the size of Legoland Malaysia and the company's first theme park in Asia, would offer more than 40 rides.

According to Wikipedia, Six Flags Entertainment is the world's largest amusement part corporation based on quantity of properties and the fifth most popular in terms of attendance.

The company maintains 19 properties throughout North America consisting of theme parks, thrills parks, water theme parks and family entertainment centres.

Iskandar Invesment Bhd (IIB) president and chief executive officer Syed Mohamed Syed Ibrahim, who spoke about Iskander Malaysia getting a theme park, which will be third in Iskandar Malaysia, said an announcement would be made by an investor within the next six months on the matter.

The other two theme parks are Legoland Malaysia and Puteri Harbour Family Theme Park.

“The new theme park caters to young adults unlike the existing two parks which are for children,'' he told reporters yesterday after the ground-breaking ceremony of the 250 million ringgit Raffles American School campus on an 18.21-hectare site at EduCity, offering pre-kindergarten to 12th grade education.

He declined to give more details when asked on the new theme park and its attractions, including whether it would be a water-theme park.

Syed Mohamed said the opening of Legoland Malaysia and Puteri Harbour Theme Park last year had created a new level of confidence among domestic and foreign investors that Iskandar Malaysia was moving in the right direction.

“Different theme parks cater to different segments of visitors and this will be better than just having one park in our development,'' he added.

The $200 million Legoland Malaysia on a 23ha site, which is a joint venture between Merlin Entertainment Groups and IIB, is the first Legoland park in Asia.

Other Legoland theme parks across the world are situated in Denmark, the UK, Germany and in Florida and California.

*US$1=3.04 ringgit

 

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