MQTech expects 50% revenue from theme park business in next three years

KUALA LUMPUR: Mould manufacturer MQ Technology Bhd (MQTech), which has ventured into theme park business, expects its new business to contribute 50% of its revenue in the next three years, following its joint venture with Cambodian Resort & Entertainment Co Ltd (CRE) to develop and manage a theme park in Cambodia.
MQTech, which specialises in high-precision mould-making and magnetic coils for hard-disk drives had previously announced its plan to build a theme park in Klebang, Malacca in a bid to keep the company out of the red.
Speaking at a press conference here today, its executive director Edwin Silvester Das said on Monday, the group via its unit Star Acres Sdn Bhd has entered into a memorandum of agreement (MoA) with CRE for the Jurassic theme park and casino project worth US$51.1 million.
Edwin said its theme park business will start contributing to its revenue by financial year ending 2017, with the launch of the first phase of the "Malacca Explorer Resort" in first quarter next year.
"Looking at the business, I am quite confident that we can turnaround the company and be profitable by end of 2017," he added.