Yong Tai seen as ‘best proxy’ to Chinese tourism

PETALING JAYA: Yong Tai Bhd remains the “best proxy” to booming Chinese tourism as Chinese tourist arrivals continue to chalk in new highs in recent years, according to Alliance DBS Research.

The group’s Malacca Straits-fronting Encore Melaka is poised to be a “resounding success”, tapping into the booming Chinese tourism in Malaysia which has seen an impressive tourist arrivals with compound annual growth rate (CAGR) of 10.2% over 2008 to 2017, compared to 1.8% for Malaysia’s overall tourist arrivals, making it the third largest tourist source market, the research house said.