Only World Group in talks to manage Ipoh animation theme park

PETALING JAYA: Only World Group Holdings Bhd (OWG) today entered into a heads of agreement (HoA) with Animation Theme Park Sdn Bhd (ATP) to facilitate discussions and negotiations for the potential collaboration to manage and operate the Movie Animation Park Studios (MAPS).
ATP, a subsidiary of Perak Corp Bhd, is the developer, operator and owner of MAPS, a joint venture between Perak Corp’s subsidiary PCB Development Sdn Bhd and RSG MAPS Sdn Bhd.
MAPS, an animation theme park in Ipoh has over 40 attractions in six thematic zones.
OWG and ATP will finalise the definitive management services agreement (MSA) within three months from the date of the HoA. OWG will provide the management services subject to service levels, standards of care, principles of accountability, conformance to approved budgets, all to be fully set out in the definitive MSA.
The HoA is not expected to have any material effect on the earnings, net assets and gearing of OWG and its subsidiaries for the financial year ending June 30, 2018.
OWG closed up 0.67% to RM1.51 today with 2.41 million shares traded.