ipameru070915 16... An artist's impression drawing of the upcoming Movie Animation Park Studio's entrance in Bandar Meru Raya.
KUALA LUMPUR: Perak State Development Corp’s subsidiary Perak Corp Bhd
has boosted its equity interest in Animation Theme Park Sdn Bhd (ATP) from 49% to 51%, turning the operator of the upcoming RM390mil Movie Animation Park Studio (MAPS) in Ipoh into a subsidiary.
Perak Corp told Bursa Malaysia that its unit PCB Development Sdn Bhd had subscribed to an additional 600,000 ordinary RM1 shares in ATP for RM600,000 and an additional 3.9 million redeemable convertible preference shares at an issue price of RM1 each, comprising a par value of one sen and attached premium of 99 sen.
According to reports, MAPS will be the first animation theme park in Asia to feature state-of-the-art animation-based attractions, as well as showcase famous animated characters from DreamWorks Animation, including Casper the Friendly Ghost, the Croods and Megamind.
The other shareholder in ATP is RSG Maps Sdn Bhd (formerly Sanderson Project Development (M) Sdn Bhd).
Perak Corp said the subscription allowed the company to increase its stake in ATP and recognise ATP as a subsidiary, which in turn would enable ATP to leverage on the resources of Perak Corp group to ensure completion of MAPS as planned.
“ATP is expected to enhance the future earnings of the group, particularly in the hospitality and tourism segment, when the MAPS becomes operational,” it explained, adding that the group would have better control and management of ATP and its resources.
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