As compared to the preceding quarter ended 31 March 2018 (1Q 2018), the Group recorded an improvement in revenue mainly from the Energy Sector, Food & Beverage tourism Sector as well as lower operating expenses incurred in 2Q 2018.
In an interview with The Edge, TARH’s newly appointed group CEO Amir Hamzah Azizan talks about how distinct products can help put Malaysia back on the map for global tourism.
In this regard, he says much of the focus will be on developing and delivering Desaru Coast and The Datai in Langkawi by curating integrated resort destinations and hotels that will provide unique experiences.
Desaru Coast, for example, will be developed to compete with destinations such as Phuket, Krabi and Bali, and to stand out as an alternative place for holidaymakers.
A RM4.5 billion project on 3,900 acres, Desaru Coast will be completed in three phases over 20 years. Developed by Desaru Development Holdings One Sdn Bhd (DH One), it will be the country’s first integrated premium destination resort.
“This is a big year for us,” declares Amir, who joined TARH, the hospitality arm of Khazanah Nasional Bhd, eight months ago.
Phase 1 of Desaru Coast covers 2,000 acres and includes the infrastructure and road connections as well as two stunning golf courses, a theme park, a retail village and four hotels.
A 27-hole golf course designed by Ernie Els was inaugurated in 2016 while an 18-hole golf course designed by Vijay Singh was opened last year. This was followed by the launch in June this year of Desaru Coast Riverside, which offers 21 restaurants and retail outlets, and an amphitheatre.
In July, The Adventure Waterpark opened its doors and its more than 20 attractions are expected to draw 500,000 to 600,000 visitors by the end of next year.
“Apart from that, we have the Hard Rock, Westin, Anantara and One&Only [opening soon],” Amir says. The four hotels will offer a total of 800 rooms out of a planned 4,000 to 5,000 rooms in Desaru Coast, which has been positioned to attract a more international (tourist) base and to provide the catalyst to kick-start Desaru as an integrated resort and to create spin-offs.
Desaru will not compete in the two and three-star hotel space. For example, online reservations for November show rates of RM900 onwards for a night at The Hard Rock Desaru.
The Hard Rock is 100%-owned by TARH while Westin is a joint venture between TARH and DH One. The latter is jointly owned by Johor and other local parties.
According to Amir, enquiries have already started to pour in for these two hotels, especially from those keen on a destination wedding.
As for Anantara — a 60:40 joint venture between Minor Hotel Group (the hospitality unit of Thailand-listed Minor International PCL) and TARH — it will be ready in the first quarter of next year.
The ultra-luxurious One&Only brand, which operates the popular Atlantis The Palm Dubai, will throw open its doors earlier as it is scheduled to open by the end of the year. Both Anantara and One&Only are making their first foray into Malaysia.
One&Only replaces an earlier planned Aman Resort Desaru Coast, although the owner — a joint venture between DH One and Bacharach Holdings Ltd, a subsidiary of Symphony International Holdings Ltd — remains the same.
“One&Only’s philosophy is similar to TARH’s,” explains Amir, who hopes to draw new investments to smaller attractions, such as rock climbing and mini golf, by the end of the year.
To draw workers to Desaru, TARH has added a staff village that can accommodate 1,700 people.
Phase 1 of Desaru Coast will also comprise residential projects. “We have a partnership with UEM Sunrise and we are hoping to see launches in the latter part of this year or early next year. Subsequently, other phases will come in, including residential and serviced apartments,” he says.
In Phase 2, the plan includes building a ferry terminal that will be ready in early 2020. “Construction of the ferry terminal has already begun. That is an important connection that allows us to ferry from Tanah Merah (located near Changi Airport in Singapore) directly to Desaru. When we do that, the journey will be shortened to just an hour. With that, we are also looking at adding a marina,” Amir adds.
Phase 2 will bring in more retail space, hotels, serviced apartments and residences, and “other concepts such as wellness or retirement villages”.
In the final phase, elements under consideration include luxury camping or glamping, as well as nature tours, bird-watching and hiking.
“This is not a five-year but 20-year journey. Phase 1 is the catalyst, and the key for us is we do not want to kill (it) by accelerating (the developments). We want to curate it as the market comes up,” Amir remarks.
Ivan, u mentioned one of the director disposed warrant..if result is good, will he dispose now? Why don’t wait until the good qr release and earn more? Ur statement contradict bro
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Jaya
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Posted by Jaya > 2018-08-30 10:23 | Report Abuse
Newages
Ivan is boss bullshit in eden