Spread the news

PETALING JAYA: Yong Tai Bhd (YTB) has received backing of its new partners from China to resume the development of its 100-acre land “Impression City” in Malacca following a delay due to the Covid-19 pandemic.

YTB has entered into a collaborative agreement with various parties including Opustique Infinity Ltd (OIL), Cheng Ho International Trade Centre and Culture City Centre Sdn Bhd and Oriental Impression City Development Sdn Bhd, which would see the restart of the development of Impression City that was affected by the movement control order (MCO) imposed to contain the spread of Covid-19 infections.

YTB CEO Datuk Wira Boo Kuang Loon said this agreement is a sign of recovery for the property development business. It also signifies the restart of the development of Impression City, which was affected by the MCO.

“With backings from our new partners in China, we look forward to expediting the development of our flagship development in Malacca. Our vision of Impression City is in line with our partners from China who have plans to build an 88-storey business tower that comprises of Chinese business and cultural elements. This is in line with the Belt & Road Initiative to enhance the cooperation between Malacca and China in terms of economy, tourism and culture.”

Under the agreement, Chengho and Oriental will collaborate with new investors and state-owned enterprises from China to invest and seek the requisite investment funds to finance the project development. This will help to enhance the group’s vision to transform Malacca city into an international tourism hub.

The initial discussions with the various Chinese partners suggest that interest in the group’s plan to transform Malacca city into an international tourism hub are strong.

“There has been a lot of interest in the Impression City project from our Chinese partners even prior to the pandemic as investors from China are attracted towards our Encore Melaka theatre concept, which focuses a lot on the Chinese culture and heritage. Of course, some of these interests subsided due to the Covid-19 pandemic, which has severely disrupted the tourism industry. However, with the gradual reopening of the economy, we are seeing a reignited interest among investors from China,” Boo added.

OIL, which has appointed Chengho and Oriental under the agreement has identified Malacca and Impression City, as the development is very much aligned with OIL’s initial plan.

OIL has originated the idea and concept of erection of 108 stories of EU-China Tower, which comprises China’s business and cultural element in the heart of London. However, due to the change of government and Brexit in the UK, the project was suspended and OIL has decided to implement the idea in Asean instead.

Boo added that despite the delay in the development of Impression City project amidst the pandemic, YTB has remained committed to its vision to transform Malacca into a tourism hub and real estate hub with its Impression City development.

“The group’s plan to transform Malacca into an international tourism and real estate hub remains intact despite the delay due to pandemic. With the gradual reopening of the economy and tourism activity, we’re confident that our vision for Impression City will materialise,” he said.

Click to rate this post!
[Total: 0 Average: 0]

Spread the news
MI Contest
Previous articleAisha Buhari Cup: Waldrum Applauds Falcons’ Determination To Win Against Mali 
Next articleAIB submits report on crash that killed Ex-Army chief, Ibrahim Attahiru


  1. I’m extremelly impressed with your writing skills as well as with the layout on your weblog.
    Is this a paiud theme or did you customize it yourself?
    Anyway keep up the excellent quality writing, it is rare to see
    a nice blog like this one today..

  2. I’m extremely impressed together with your writing talents as smartly as with the format for your weblog.
    Is this a paid subject or did you modify it yourself?
    Anyway keep up the excellent high quality writing, it’s rare to see a nice blog like this one

  3. Hi there, just became aware of your blog through Google, and found
    that it is really informative. I am going to watch out for brussels.
    I will be grateful if you continue this in future.
    Lots of people will be benefited from your writing.

  4. Have you ever thought about including a little
    bit more than just your articles? I mean, what you
    say is valuable and all. Nevertheless think of if you added
    some great photos or video clips to give your posts more, “pop”!
    Your content is excellent but with images and clips, this blog could definitely be one of the very best in its field.
    Good blog!

  5. Please let me know if you’re looking for a article writer for your
    weblog. You have some really great posts and
    I think I would be a good asset. If you ever want to take some of
    the load off, I’d really like to write some content for your blog
    in exchange for a link back to mine. Please shoot me an email if
    interested. Regards!

  6. Magnificent beat ! I wish to apprentice while
    you amend your site, how can i subscribe for a blog
    site? The account helped me a acceptable deal. I had been tiny bit acquainted of this your broadcast provided bright clear concept


Please enter your comment!
Please enter your name here