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Eden: New Wing to Give Profit A Significant Boost
Eden Enterprises (M) Bhd will see a significant improvement in its balance sheet in the next three years with the opening of the new wing of its Underwater World Langkawi, this month.
Executive chairman Tan Sri Abd Rahim Mohamad said the Eden group will see significant profit contribution from its Underwater World Langkawi in three years.
"Underwater World is the brainchild of Tun Dr Mahathir Mohamad when he was the prime minister. It will be one of the major contributors to Eden`s profit. The existing wing is performing well," Abd Rahim told Business Times.
Eden's power/energy sector remains the major contributor to the group`s profit.
Abd Rahim expects the profit contribution from Underwater World to the Eden group to stay at 30 per cent level.
Eden's unaudited net profit increased to RM4.95 million for its year ended December 31 2004 from RM2.635 million in the previous corresponding period.
Its revenue for financial year 2004 rose to RM179.011 million from RM155.471 million a year before.
Abd Rahim said with the opening of the new wing, the entrance fee for the Underwater World will be increased to RM28 per ticket from the current RM18 per ticket.
The new wing, which will be officially opened in May, is expected to have a trial run sometime middle of this month.
Director of food and beverages and tourism sector, Abdullah Rasol, said the new wing, with an investment of about RM33 million and a payback period of 13 years, is expected to boost its owner, Underwater World Langkawi Sdn Bhd's revenue by at least 70 per cent annually to RM12 million when it opens to the public.
Last year, the existing wing generated a revenue of about RM7 million. Underwater World Langkawi is a wholly-owned subsidiary of Eden.
Abdullah expects the sales from the entrance fees to range between RM50,000 and RM100,000 a day during holiday seasons and about RM 10,000 to RM20,000 a day on non-peak seasons.
The 60,000 sq ft-new wing, the most unique design in Langkawi, has species such as penguins, seals, "Anaconda" snake, making it the only aquaria of its kind in Malaysia that possesses such species.
Abdullah said Underwater World Langkawi will have slightly more than 4,000 animals from over 300 species when the new wing opens in April.
The star attractions will be the penguins and the three seals. Some 20 Rockhopper penguins will be in the sub-Antarctic ecosystem while the Blackfoot penguins and the seals will be housed in the temperate section.
Apart from that, the new wing will also feature local birds and fishes as well as those from overseas.
Abdullah said about RM3 million has been invested on the new exhibits, of which more than half were spent on the penguins and seals which are imported from Africa and Japan, respectively.
Another special feature of the aquarium is the rainforest ecosystem section where visitors can view the Arapaima, the largest fresh water fish, primates and electric eels.
The Underwater World will also have educational and research centre.
The new wing's construction started in September 2003. It is also equipped with a RM4.2 million 200-seat 3-D theatre facility, making it one of the first aquariums to offer such facility in South East Asia.
Abdullah said Underwater World will be turned into a lively place with family-oriented edutainment.
He said income will not only be generated from entrance tickets but also from food outlets, sidewalk cafes and souvenir shops which will start business once the new wing opens to the public.
Langkawi 04/04/2005
