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TAIPING CABLE, CARSDN BHT}

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No 3, Jatan 33/10A, r(a$n$sn

perindustrianffiil.-

Tel:+603-61885e21

8atu,08100 Kuara Lumpur, Maraysia

Fax:+603.6188007i

BUSINES$ PLAN
May 2013

TAIPING CABLE CAR SDN BHD

)

Business Plan
Tpble, of Cqntents
INTRODUCTION

EXECUTIVE SUMMARY

I.

CORPORATE PROFILE

1.2.

Mission, $tnategies ,Values

1.2.1. Vision
1.2.2. Mission
1.2.3. Values
1.2.4. Objectives
1.2.5. $trategies
1.2.6. Target

6
6
7
7
7

I
I

2,

SYSTEM DESCRIPTION

3.

WORK IN PROGRESS

16

4.

MARKET STUDY

16

4.1.

OVERVTEW

17

4.2

TOURISIU IN MALAYSIA

22

VISITOR PROJECTION FOR YEAR 2O{{

34

MARKETING OBJECTIVES

97

MARKETING STRATEGIES

37

SALES

38
38
39
39

4.3
4.4
4.5
4.6

4.6.1 Pricing
4.6.2 Retailing
4.6.3 Promotions & Displays

4.7 RISK ANALYSIS

4.0

5.0 MANAGEMENT & ADMINISTRATION

4.1
4,2
4.3

Management
OPERATIONS ORGANISATION
MarketingOrganisation

FINANCIAL PROJECTIONS

6.1.1 Cost Estimates

6.1.2 Key Assumptions
6.1.3 Profit and Loss Scenarios
6.1.4 Financial Ratios
6.2.0 Cash Flow Projections

7 FUNDING REQUIREMENTS & PROPOSALS

7.1 Financing Packages

7.1.2 Term loan for Gonstruction of Cable Car System

List of Appendices
1

46
46
46
47
47
49
50
50
50

5{

CONCLUSTON

1. APPENDIX

43
43
44
45

Directors' Profile

2.

APPENDIX 2

Company Certificate of I ncorporation

3.

APPENDIX 3

Copy of Menlorandum and Articles of Association

4.

APPENDIX 4

Copy of ROC Form 24

5.

APPENDIX 5

Copy of ROC Form 49

INTRODUCTION
>

The State Government of Perak has on 26s May 20{0 signed a concession
agreement with Taiping Cable Car Sdn Bhd to develop a cable car system linking
Bukit Larut to the Jeep Track Station at the Lake Gardens under the following
terms:

TCC shall fully finance the design, building and operations of the

proposed cable car for a period of 30 + 30 years commencing from the

date of opening for public operations of the cable car system.
ln consideration of the above, the company shall be allowed to collect
all revenue arising out of the operations of the cable car including sales
of tickets and merchandise and other activities.

The Gompany is also concunently conducting detailed engineering studies on the

proposed alignment and is confident that the development of a cable car system
would open up Bukit Larut and deliver a new tourism product for Perak.

The Federal Government has set up the Tourism lnfrastructure Fund to be

disbursed through Bank Pembangunan Malaysia Berhad specifically to finance

tourism projects such as the Taiping Cable Car. The Ministry of Tourism Malaysia
has declared their support for the project to be implemented and has intimated that
they will also provide a budget to implement projects to complement the
development of the cable car at the summit of Bukit in order to turn the hill into
another premier eco-tourism product of Perak and the northern region of
Peninsular Malaysia.

TCC has submitted an application to Bank Pembangunan Malaysia Berhad. This

report shall establish and confirm the viability of the business plan as well as the
funding requirements for this project.

Tainins Gable Gar $iln

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Kereta kabel tarikan pelancong

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iukln r'nrri tap;rli baei

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nrclerglapk;rrr pr''Juk pelurtrrngan sc'dia ada di daer*h it*

seperti Zoo laiping dan 'l"anan

kiitarrr'.r
pada sitlang mrdie sclepas maj-

T'asik Taiping-

lis lrenantlahngani perjarriian

kr:nsesi pembinaan pro.ick ber-

rikar empalao- 'laiping Cable

sir'ri, ssn:rlartr.

Pmiek bernilai RM65 jnt{ itrt

akan dilaksnakan sebuah sm-

kenaan antara Taiping tirbtc

Car rlengan ktraiaan negeri di
Pacla majlis itu, "fnlaat rn{u'akili 'Iaiping (lable Car, mr-

Car Sdn Bhd {-faiping Cable Car)

iaitu kumpulan

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Toininu Gable Gar$iln Bfiil

EXEGUTIVE SUMMARY
The proposed cable car has an alignment of 3.58 km in length with a height
difference of approximately 1,000 meters. lt is a mono-cable gondola system with
a maximum speed of 6 meters per second and initial capacity of 500 passengers
per hour and final capacity of 1,000 passengers per hour. lt shall be built at a cost
of RM60 Million.

The Cable Car will create an exciting new tourist attraction. lt is an attraction in
itself and has been proven to improve visitor arrival to the various locations it is
situated. The same can be said for the effect of the Cable Car on the Taiping Lake
Gardens and other surrounding area$. lt is an eco-friendly tourism product that has
been proven in other parts of the country and the world.

The development of the Cable Car is being undertaken by experienced industry

professionals who have successfully designed and developed similar systems in
Malaysia. With the location of Bottom Station at the base of the Jeep Track near to

the Taiping Lake Gardens and Zoo, both facilities can complement each other in
attracting visitors, the Taiping Zoo being an award winning tourism attraction and

the Cable Car being the latest eco-tourism attracfion, both showcasing the
uniqueness of Perak as a tourist destination.
From the trends of visitor arrivals, it can be concluded that tourism is a growing
industry and much effort must be put in to create new tourism products to cater to
the increasing demands of the increasing tourist arrivals.

The Taiping Cable Car is

financially viable proposition and should bring

tremendous benefits to the tourism industry of Malaysia in general and Perak in

particular. lt is also in line with the Government policy of promoting the tourism
industry by the introduction of new tourism products to complement existing ones
and should be fully supported.

,}

Iainlng Gaile

1, Corporate Profile

Gar $dn

[fiil

1.1,1.The Companv
Taiping Cable Car Sdn. Bhd. is a newly set-up company to solely undertake
the privatisation of development of the cable car system to Bukit Larut,
Taiping, Perak and has been given a con@ssion by the Perak State
Government to carry out the project.

The Company is to carry out the function for an initial period of 60 years
under a Concession Agreement to be signed between the Company and the
State Government of Perak.

1.1.2.Date

of lncorporation

Taiping Cable Car $dn. Bhd. (763221-T't was incorporated on 16h February
2007 the under the Company Act.

1.1.3.Nature of Business
The Principal activity of TCC is to undertake development of a cable car
system linking Bukit Larut to Taiping in Perak and to carry out business
activities related to tourism and trading.

1.1.4.Share Capital & Shareholders*

AUTHORISED :
PAID UP
:
SHAREHOLDERS
DATO SERITALMT BIN
IBRAHIM BIN
TAN SWOOI

500,000 SHARES OF RM 1 EACH

500,000 SHARES OF RM 1 EACH

HUSSAIN

HAMZAH
HENG

SHARE
SHARE
SHARE

15O,OOO

. 2OO,OOO
- 15O,OOO

* The Authorised and paid-up capital of the Company will be increased

to
RM10,000,000.00 and the shareholding structure of the Company shall be

maintained at 70% Bumiputra: 30% non-Bumiputra; with Dato $eri Talaat bin
Hussain at&0o/o, Haji lbrahim bin Hamzah at4ao/o and Mr Tan Swooi Heng at
30o/o.

Taipinu Grfle Gar$ln Bhil

1.1,5.Board

of Directors

The present Board of Directors of the Company comprises:

DATO SERITALAAT BIN HUSSAIN

Executive Chairman

IBRAHIM BIN HAII'ZAH

Director

TAN SWOOI HENG

Director

1.2. Mission, Strat6gies ,Values

1.2.1.Vision

TCCSB intend to expand to tourism related activities focusing in the Taiping

Lake Gardens and Bukit Larut. This is in line with the Government's
aspirations for tourism development.

The core business will be the operations Taiping Cable Car and the
secondary business shall be the sale of souvenir items, retail merchandise,
organised tours, exhibition and museums and rental of retait and food &
beverage space in the station buildings.

The Taiping cable car system will be technically advanced to provide

visitors with a safe and exciting experience.
TCCSB will continue to expand through organic growth and introduction of

new products in tourism related market segments. TCCSB will make a

name for itself as the premier tourism facility of Perak.

The main target of the Northern Coridor lmplementation Authority is to

increase average spending per visitor from the current base of RM1,890 to
RM3,034 by 2012, and to increase tourist receipts from RMg billion to RM21

billion over the same period. TCC hope to assist the NCIA in achieving this
vision.

Taininu Grble

Gr$iln Bhil

1.2.2.Mission

Taiping Cable Car $dn. Bhd. (TCCSB), the company specially formed for
the purpose of developing and operating the cable car facilities. The
company will manage the cable car facility and will also offer retail tourismrelated merchandise and other related services.

TCCSB mission is to enhance its customer's business by providing the very

highest quality products and services possible. TCCSB customer support

strategy is based upon total, no-compromise customer satisfaction.

TCCSB will also adopt total quality management in the operations of the
cable car and its ancillary facilities.

1.2.3. Values
The corporate values governing TCCSB development will include the following:

TCCSB operates in accordance with the highest standards in the safety of

its facilities and in its dealings and relationship with customers, suppliers,
environment and the communig.

TCCSB shall place full emphasis on preserving the environment and use
best environmental practices in the building as well as the operations of the
cable car system

TCCSB fosters

climate, whieh encourage$ innovation and diligence

amongst staff and rewards accordingly.

TCCSB will make each visit to the cable car facility unique and memorable

by providing the tourist with unlimited creativity and professionalism, which

willresult in increased visitors to the cable car and Taiping

TCCSB will provide a reasonable return on investment to the owner of the

system.

1.2.4. Obiectives
Longer-term business objectives of TCCSB are summarizes as:

To market Taiping Lake Gardens and Bukit Larut in general and cable car
facility in particular to international and domestic tourists.

r
I

Taiplng Gable Gar$iln Bfil

To become the leading, innovative seMce company within the tourism

facility management market segment.

To expand the development of cable car installations as the premier ecotourism product in this region.

1,2.5.Stratesies
TCCSB will implement the following strategies for the successful operation of the
facility.

.
r
r
r
r
r
r
r
r
r
r

Accelerate promotion of the facilities with a strong marketing team

Extend links with Eco tourism operators
Seek new market segments
Commission assessments of key markets
Start participating in trade shows and tourism missions
$trengthen web presence and promote
Educate and promote eco tourism aspects to the facility
Pursue strategic ailiances with complementary players

Offer innovative packages to attract repeat visitors

Offer attractive, historic $ouvenir merchandise to the tourists

Value add to the cable car services

1.2.6.Tarset
TCCSB is confident of achieving the following goals

r
.
r

Achieve sales of RM 8.75 Million in the first year of operations

Report annualised profits of RM 1.5. million from first year of operations

lncrease from 14

o/o

to 25 % of Taiping tourists riding the cable car by the

third year of operations

r
o

Become one of the laryest draw eco-tourism facility of Perak within 5 years

Achieve 100% safety record in its operations

Talning Gablc Gar $dn [hd

i

2.

SYSTEM DESCRIPTION

The system proposed is the detachable mono-cable system with 8 seater gondolas
similar to the present system of the Langkawi Cable Car. The number of gondolas
or carriers differs with each alternative according to length of the line. The system
is designed to transport passengers uphill and downhill at constant speed, which
can be selec{ed by the operators within the minimum and maximum speed.

The ropeway system will be designed, manufactured and installed in accordance

to the latest standards of ropeway technology by Doppelmayr $eilbahnen of
Austria and will feature state of the art equipment and operate automatically. lt will
fully comply with the latest lnternational standards and safeg requirements for
Aerial Passenger Ropeways.
The following are brief technical description of the route linking the Taiping Lake
Gardens to the peak of Bukit Larut.
SYSTEM DESCRIPTION
Location of Drive
Elevation of Drive station at Bottom
Location of Return Station

Horizontal Length
Vertical rise
lnclined length
Hourly capacity
Drive speed -variable

Trip time
Passengers per Carrier

Bottom Station
37m

Top
3,590m

958m

3,741m
50011,000pph

0-6m/s
12min
8

Carrier Spacing

3451172m

Carrier interval

41.14sec

Number of carriers
Parking of carriers

Total number of towers (estimate subject to finalsurvey)

Haul rope diameter
Diameter of bullwheels

23t46
Bottom
12

54mm
5.2m

Taining Crble Car $iln Bhd

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seated passengers

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TOP STATION

12

Taining Gable Gar $iln B[d

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BOTTOM STATION
PROPOSED CABLE CAR ALIGNMENT AND STATION PLANS

CADANGAN S'STEM KERETA KABEL DI BUKIT LARUT,

TAIPING, PERAK DARUL RIDZUAN

AERAIL PERSPECTIVE OF THE ALIGNiIENT

ALIGNMENT

13

Tolnin[ GoDle Gr$iln Bhil

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Taiping Gable GarSiln Bhil

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LAYOUT PI.AN SHOWNG THE TOP STATIOH

Siie Approisol
Ar.ival Erptriafta i Uppa. Sl.tio6

Toidng GaHe Car $iln B[d

3. Work Progress as at 1 August

TAIPING Cable Car Sdn Bhd signed a concession agreement with the State Government of
Perak privatized the development of a cable car system on 26tr'May 2010.

In order to commence construction

carried out the following works:-

of the installation, the Company had simultaneously

PROGRESS TO DATE

WORK
DETAILED LAND SURVEY

ALIGNMENT CONFIRMATION

BUILDING PLANS

ENGINEERING PLANS

SOIL INVESTIGATIONS

6.

BANK LOAN

PROGRESS
Detailed land survey has been completed for
the Top and Bottom Stations and a copy of
the olan is enclosed.
Preliminary alignment proposed pending
confirmation by the Architects on the
location of the anchor blocks of the two
station buildines
Preliminary buildings plans completed
pending further detailed information by the
Architect
Preliminary engineering calculations
completed. Detailed engineering plans
awaiting the completion of the building
plans and the soil investisations.
Soil investigation works awaiting alignment
survey and system specialist to confirm the
alignment and the location of the steel
intermediate towers.
Loan application submitted to Bank
Pembangunan Malaysia Berhad and
Ministry of Tourism Malaysia for financing
under the Tourism Infrastructure Fund.
Meeting with Tourism Ministry: Mayo June
Auzust and September 2010.

16

Tfli[ing GaHe Gar $dn Blil

t

MARKET STUDY

4.

4,1. OVERVIEW
4.1.1 Tourism the largest industry
Emerging Tourism Markets *The Coming Economic Boom
Madrid, 24 June 2009

lnternational tourism in emerging & developing markets has grown at an

average rate of 6-8% over the past decade. Twice the rate of industrialized
countries.
Tourism is a crucial contributor to these countries' income - up to 70olo
for the world's poorest countries.
Development financing from globalTrade; Poverty Alleviation and climate
Response should recognize the long term potential of tourism as a
sustainable growth engine.
with international travellers projected to almost double by 2020, the
most significant increases are expected to take place in markets like China,
lndia and destinations in south-East Asia. The Gulf states and emerging
Eastern Europe complete this picture, followed by the Latin American and
finally African markets.
Many of these are becoming important outbound markets, backed by
growing middle classes on the one hand, and liberalising policies promoting
mobility on the other. Chinese tourists already spent about US$ 30 billion
abroad in 2007, according to UNWTO figures.

The domestic travelpotentialof emerging markets - in 2006 China

registered 1.6 billion trips and lndia 461 million - is a further proof of their
long term importance for international tourism.
Between 1996 and 2006, internationaltourism in developing countries
expanded by 6% as a whole,by 9o/o for Least Developed countries, and 8%
for other low and lower-middle income economies. Against this backdrop,
the sector will be more and more recognized as a key agent in national
poverty reduction strategies and in derrelopment financing.

excerpts of speech by Geoffrey Lipmann Assistant Secretary General,

World Tourism Organisation, 20 June 2008

17

Taifins Grile Gar$dn Bhil

" Global tourism in2011 performed better than expected with a 4.4o/o increase over

the previous year registering a record number of 980 million intemational tourist

r
:
+
!
'

arrivals. This growth was experienced in spite of the barrage of shocks that hit the
internationaleconomy such as the devastating Japanese earthquake and tsunami,
political changes in the Middle East and North Africa, civil unrest in some oilproducing countries, and the on-going financial turbulence in the euro area. AsiaPacific region grew by 6% with 11 million more arrivals to reach 216 million
internationaltourists.
Arrivals worldwide are poised to cross the threshold of 1 billion by the end of 2A12.
Growth is expec'ted to be in the range of 3 to 4 per cent which though slightly lower
than last year, will sustain the positive trend of 7 per cent from 2010. By region,
growth in Asia and the Pacific is expected to remain eolid between 4 and 6
per cent benefiting from strong lntraregional demand."

Excerpt of speech by Mr Taleb Rifai, $ecretary-General

Tourism Organization (UNWTO), 3 May 2A12

of the

World

Tourism can spur global economic rccovery

,*

Wth tourism identified by the G20 Leaders Summit in June 2012 as one of the
sectors that can spur global economic recovery, and a new event, the Global
Tourism Economy Forum, launched in September 2012 to focus on the
"interdependency" of tourism growth and economic growth, the importance of this
sector has never been in a brighter spotlight.

Tourism Organization notes that 2012 represents a landmark: the year in which
international tourism arrivals reach the milestone of ,l billion. The UNWTO
predicts overall grov'rth in international arrivals to come in at 4 percent for the year.

"Amid the current economic uncertainty, tourism is one of the few economic

!
'

sectors in the world growing strongly, driving economic progress in developing and
developed countries alike and, most importantly, creating much needed jobs," said
UNWTO Secretary-General Taleb Rifai, to.open the Global Tourism Economv
Forum September 12,2A12. The Forum drew more than 1,000 attendees from 20
countries to Macao. 'As we lead up to the milestone of one billion,' Rifai added,
"we need to ensure that the tourism sector is supported by adequate national

such as complicated visa procedures, increased direct taxation, or limited

connectivity."

The Leaders' Declaration, delivered at the annual G20 Leaders Summit, from the
meeting recognizes "the role of travel and tourism as a vehicle for job creation,
economic growth and development, and, while recognizing the sovereign right of
States to control the entry of foreign nationals" commits to *work towards

18

TaininU Gable Gar$iln Bhil

developing travel facilitation initiatives in support of job creation, quality work,

poverty reduction, and globalgrowth.'

Tourism is one of the largest

some even say it is the largest

- industry in the

ffiO), over the last decade,

countries will hit the one billion

world. According to the World Tourism Organization

international tourism (travel between)

international arrivals by end 2Q12. lndividuals are travelling signilicantly more

internationally per capita than they did 10 years ago.

ln 20{1, international tourism receipts exceeded US$ I trillion for the firct time,
up from US$ 928 billion in 2010. ln real terms, receipts grew by 3.8%, following a
4.60/o increase

in international tourist anivals. An additional US$ 196 billion in

receipts from international passenger transport brought total exports generated by

international tourism in 2011 to US$ 1.2 trillion.

According to the latest UNWTO World Tourism Barometer, international tourism

receipts continued to recover from the losses of crisis year 2009 and hit new
records in most destinations, reaihing an estimated US$ 1,030 billion (euro 740
billion) worldwide, up from US$ 928 billion (euro 700 billion) in 2010. ln real terms

(adjusted

for exchange rate fluctuations and inflation),

international tourism

receipts grew by 3.8o/o, while intemational tourist arrivals increased by 4.6% in

2011 to 982 million. This confirms the close corelation between both indicators,
with growth of receipts tending to lag slightly behind growth of arrivals in times of
economic constraints
The WTO Tourism Vision 2020 forecasts that international arrivals are expected to

reach over 1.56 billion by the year 2A2A. Of these worldwide arrivals in 2020, 1.18
billion will be intra-regionaland 377 million will be long haultravellers.

Tourism demand depends above all strongly on the economic conditions in major

generating markets. When economies grow, levels

of disposable income

will

usually also rise. A relatively large part of discretionary income will typically be
spent on tourlsm, in particular in the case of emerging economies. A tightening of

Taining Gaile Car $dn [hd

the economic situation on the other hand, will often result in a decrease or traOing
I

down of tourism spending.

ln general, the growth of internationaltourism anivals significantly outpaces growth
of economic output as measured in Gross Domestic Product (GDP). ln years when

world economic growth exeeds 4 per cent, the growth of tourism volume tends to
be higher.
The period 1975-2000 tourism increased at an average rate of 4.6 per cent a year.

4.1.2 Asia Pacific Tourism

The Asia and pacific region will be the focus of the worldwide tourism industry in

the new millennium. lntemational tourism reeipts grew by an exceptional24o/o in

Asia and the Pacific following the g% loss of the 2003 SARS year.
Between 1980 and 1995, tourist arrivals and receipts in the Asia Pacific region
rose at an average annual rate of 10% and 15% respectively, higher than any
region in the world. Between 1985 and 1996 the market share of Asia Pacific
region of tourist arrivals and receipts is 15.2o/o and 19.4olo respectively of the
worldwide total.

The total international tourist arrivals in Asia and the Pacific for year 2004 are
152.9 million, a 27.8o/o increase over 2003. The total international tourist arrivals in
South East Asia for year 2OCH are 47.4 million, an increase of 30.6% over year
2003.

The Asia Pacific region is gaining market share at the expense of Americas and
European regions. The WTO projects that by the year 2A20, the region willsurpass
the Americas to become the number two tourism region behind Europe, with 397
million arrivals, growing at annual rate of 6.5%o. lt is an indication that the growth of

2A

Iciilng m[h Gar$dn Uhil

tourism in the Asia Pacific region in the next decade will be nothing but short of
L

spectacular.

Mass travel, which first began in the 1950s when millions of Americans and
Europeans travelled the world, has blossomed in Asia. The region is now regarded

as a major generator and receiver of tourism. A wealthy new middle class Asians
are taking to lhe skies and joining their European and American counterparts on
their pleasure, business, and adventure trips around the globe.
The rapid growth of the tourism industry has been attributed to a number of fiactors
including among otherc, strong economic growth, increase in disposable income

and leisure time, easing of travel restrictions, sucssful tourist promotion, and
recognition by the governments that tourism is a powerful engine of growth and a
generator of foreign exchange earnings.
ln the past few years low-cost airlines has been instrumental in higher frequency of

trips taking with shorter stay, opening up new routes and offering not only lower
prices, but also lesser restrictions with respect to length of stay or ueekend stay
over. More over, aside from extending the market of shorter trips, lorr-cost airlines

have also brought air travel.within the reach of groups of travellers with more
limited budgets but with a healthy appetite for travel.

Forecasts by the World Travel and Tourism Council for the Asia Pacific region
reveal by the year 2005, travel and tourism will generate US$ 1 trillion in gross

output, and account

for

11.60/o

of the Asia Pacific region's GDP. Further, the

industry will create an additional 105 million new and indirect jobs. To support this

growth, US$ 553 billion in capital investments will be needed for the infrastructure
and super structure.

21

Tsining GaDle Car$iln Bhil

t

IfI $Tt

4.2

crl*hpaling

frfi gt*nrur t'earfi

Tourism in Malaysia

Tourism is the second important sector and one of the major sources of foreign
exchange earnings in Malaysia. Malaysia welcomed 11,632,483 tourist arrivals for
the firct six months of 2a12, registering a growth ol 2.4a/o compared to 11,362,862
arrivals for the same period last year.
Correspondingly, total tourist receipts from January to June 2012 rose by 4.0o/o,
generating RM26.8 billion to the country's revenue compared to RM25.7 billion in
2011.
ASEAN region continued to be the largest contributor of tourist anivals with 73.87o

share of the total anivals. The top ten generating markets were Singapore
(5,832,330

I 4.8o/ol, lndonesia (1,108,361 I

+2O.Oo/o).

China (758,289

I +M.2o/o,),

Thailand (638,641/ -11.5o/al, Brunei (588,165/ -1.2o/ol, lndia (365,1041 +o,g%),

Australia (242,579t -10.4q/o), the Philippines (238,1751 +45.3%), Japan (Z15,g7Zt
+32.5o/o\ and United Kingdom (196,738/ +5.9%). They accounted lor 87.55o/a of the

total tourist arrivals.

Malaysia is in gfr place in world's top tourist destinations. Malaysia is one of the
two ASEAN countries among the top 25 top tourist destinations in the world closely

followed by Thailand in 18h place.

Under the Ninth Malaysia Plan, a total of 160 tourism projects costing RM1.8
Billion have been identified for implemeniation to boost the number of visitor to
24.6 Million by YEAR 2010. The 17.5 Million visitors spending a total of RM36.2
Billion achieved in Year 2006 augurs well for the achievement of the targeted 20.1
Million visitors for Visit Malaysia Year 2007.

22

Talnlru CrHe Grr$iln

l

[hil

Thevisitorarrivalsof 24.6millionfor2010 and24,7 irlilliontoreOiZlsproof tfrat

the momentum created by the programmes for Visit ltlalaysia Year 2007 is being
continued, thanks to the great efforts by the Ministry of rourism, Malaysia.

From the trends of visitor anivals, it can be concluded that tourism is a growing
industry and much effort must be put in to create new tourism products to cater to
the increasing demands of the increasing tourist arrivals.

ryss

?3.e Mi$on

53.3Si 7 Mrtlion

30ff8

?2.0 iiil*on

4$ 5S1.? Mrlliqn

2ffi7

20.9 Mrlhcn

46 070 C Mrilion

?os

3?.45Mrlkon

36.?71.1 Milhon

?o05

16.4 Mrl{lo*

31.954 1 Miilion

2004

'!5"7 tlillron

39,S61.4 Million

20s3

10 5 ltrllrttrl

21.?g'?.1 i,{illiol!

2SS2

13.2 f,rrlli$n

25.781.1 Mrllicn

2961

't2 7 lr,lltstr

24.!?1 5 Mdlio*

2S00

10"2 Mdk*n

1?,335.4 Mftron

P,?

'$.*.,:

!'f
'93
'

thf

irirrrl & frurnm Cound Ee1oq

rAUg

23

,.. .8.1,

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5;"q

,&l$

ift,$

Irinlng GrDlo Gu$ln Ehil

L

l#odd Tourism rankings - Wikipedi4 thefre encyclcpedia

Page

I of6

World Tourism rankings

Frsn Wikisdtt, &e *ee acyclopedb
The Wsrld Tourhn renkinp are compiled by the Unircd Nations Wsld Tourism Organization ftJI.IV/TO)
as part of their Wsld Tanritm Earometer publierion, wtrich is rde*sed dreo times throrghcn* the yetr. In
the Fblication, UN regions and srbregions are ranked by dre mrmber of intemational visitm arrivals, by the
revenue gaeratd Uy inUannO tourism, and by the orpenditures of cndbound travelers.

Intun*tis*al tourisf arriral*

by fiHr*try sf ds*tin*tiott

t$l

ln 2011, there were 983 milliol internatimal touri$ arfivaldwor{dlsidi,, with a gfowth of 4.67a as @rnpared
to 940 million ;n 2g1g,tllt2l The top l0 intematiooal tcnrrism destinanions in 201 I were'[3lt1l

fut xrrtimrl

I*terrr*rissd

III{WTO
-lfitn- ,

*aak Country

.*X
{2flof2l

tourist

*Fii,
(2mllt2l

1
2
i
4
5
6
?

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tl lfrance

,!&UqitedSain.r Nor&America

Asia
En"e.
el$ope
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ffiUnitedKi*gdon Eurqle

lcbina
'* Spuin
,l llrati
rilfu*!'

9 lffi Malalsia
l0 :l{Mexico
llosc:

milti6:

62.3

millid

5?.6rnillion
56.?

nillion

+r.r

*1i*

ryjllion
29:zmitliso
Ze.arniUion

Agia

24.7arillion

No*hAmsica 23.4million

the l/lVFZl? WatVToqrtsn

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zou)

sillion
:59.80illioo
55,? million
, 52.? million

+3.Wo

43.6millio-

+5.?/o

million

+8.7/o

. 2E3milliur

+3.XA

7?.1

29.3

-arypg
,,

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Effitr;

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ndllisr
' 24.6 millior
23"3 nillioa

for the fult

26.9

'4T/o
+3.4*/o
+7.60/o

+5.5olo
+Q.6o/o

+0.5%

notingslz]

Asia and the Pacific

In2O1l. thseqmeaver ?l? $ritliosr irlg*a*qrat tq*rire srivdstr:
over 2010. Ia 201 1, tbe top

tsrrde*inicius ryoge;trI
-:

nenk

.
Counfy

{xnr}trl
srle*nio*rl

Glvtalaysia 24"?tnilli*n
Effosgfsng 22.3?millim
F rfrritanO 19.10 million

6
7
8

I
10

E Macau
lsingmorc

12.93 millio,n

10.39nillisr

g'S*rAI(*e" g.C*tiill*
- Indsresia 7.65 milliqr

ffifnAa
I Japan
24

tosri;t

rrrivds

Ictlo"

tee**&**I,

fuiaddpPlciftc, m i$t*eof6'l%

6.29rnitlion

6.22 million

Taiping 8aile GmSiln

z0t

24.7 Million

5S.l Billio*

:0tD

24.6 Million

56.5 Eillion

2CII19

23.6 Million

53.4 fiitlion

t0{ltt

Z?.S Million

49.6 Billion

1007

20.9 Million

46.

r0{16

17.4 Million

36.:l Eiflion

2005

16.a Million

3l.O Bltlion

25

Eillion

lhd

Iaiping Gable Gar$iln B[d

D

Malaysia Tourist Arriyals (By Country)

Honth
Tfm

ln

Year 3oo9

FULLYEAR.
SELECTATTRM

Tourist Arrivalr By gduntry 3009 I 20q8

co{ntry of Reiidellce
SINGAPORE
THAITAND

200a
11,003,492
1,493.789
1,428,605

iNDONESIA
BRUNEI DARUSSALAM

qb

2(}09
1 2,733,082

r,449,?62

1,085.1 15

3.405,360
1,061,357

PHlLIPFINES

397,884

447,479

VIETNAM
CAMBODIA

t22,933

149,685

35,464

43,146

CHINA {rncr rcnc rone u*cso )

949,464

1,019,756

]AFAN
TAIWAN

433,4f,?
190.979

398,746

REP. OF KOREA (SOUTH KOREA}

267,461

?27,312

lNDIA

s50,738
264,338

589,839
284,890
77,AA2
22,108
101,664

WE5T ASIA
SAUDI ARABII.
UNTTED ARAS FN'IRATFs

74,632
34,954

IRAA'

63,165

77,6M

CANADA

197,859

'

s8,080

228,57I

UNITED STATES OF AMERICA

AUSTRALIA

223,?49

NEW ZEATAND
UNITED KINGDoM

56,117
370,591

SCAIIIDIN/IVIA

rfi,994

533,382
63,004
435,091
118,8?4

?3,817

2s,9L6

:3.1 r2

20,912
22,497
49,509
11L,139

DENMARK
FINLAND

427,076

NOfr.VyAY

21,516

sI4/EOFN

48,99
90,80:

NETHERLANDS
FRANCE
GERMANY

SWITZERI,AND

RUssIA FEDERATION
POLAND

ITALY
TURKEY
SOUTH AFRICA

s5,030111,525
26,439
26,308
11,745
38.945
8,152

?s,437

OTIIERS

Total

110,0*
128,288
28,523

29,202
12,544

46,352
8,265
23,556

Charrge
15.7
- 3,0
- 1.0
- 2.?
12.5
21.8
2I.7
7.4
- 8.7
3.6
- 15.0
7.1

Chart
view
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Viev{

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vtew
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Vtew
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vier,r
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7.8

3.3
-36.8
50.9
13.4
2.4
24.9
12.3
t7.4

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1.5

8.8
-9,5
4.5
1.8
22.4
27.9
15.0
7.7
11.0
6,8
19.0
!.4
- V.4

1,131,140

576,543

- 40.2

22,052r48A

23,96'191

7.2

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Vietr
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4.2.'l lntra-ASEAN arrivals are growing

The composition of visitor arrivals is changing, with the strongest growth (before
the SARS outbreak) being in arrivals from within Asia, and especially from A$EAN
26

|}

Taipins Gable Gr $dn Bfiil

pattern
countries. The
became more pronounced because of the downtum-in
Western visitor arivals (especially from the US) following the September 11th

terrorist attacks.

However, the paftern also reflects economic recovery, rising living standards and

growing economic integration in East and South-east Asia-influences that are

likely to have an enduring effec-t on Malaysia's tourism industry in 2005-09.
$ingapore, Thailand and Indonesia are important sources of visitors. China has
overtaken Japan as

a sour@ of tourists, and Chinese tourism is expected to

become a major influence in the near future.

4.2.2 Cheap air services will make a difference

Aside from the expected influx of Chinese tourists, the most important
development in 2005-09 is likely to be a greatly increased number of cheap air
services. ln early 2004 a number of low-cost carriers (LCCs) emerged in the
region, and the governments of Malaysia, Singapore and Thailand appeared to
accept that the protection of their own state airlines had to be given lower priority.
Both KLIA and Changi Airport have recently opened special airport terminals for
LCCs.

A strengthening Malaysia Ringgit would make Malaysia a more expensive tourist

destination, but the fact that the government has opted for a managed exchange-

rate system, suggests that long periods of currency volatility (or

significant

appreciation against the US dollar) will not be tolerated.

Malaysia is also increasingly promoting itself as a destination for beach holidays,

with its spa resorts providing particularly popular among travellers from both Asia
and farther afield. Malaysia's tourism sector may have been given a boost by the
lndian Ocean tsunami that struck the region at end-2004: damage to Thailand's
tourism infrastructure may have helped to divert tourist traffic to unaffected
countries, including Malaysia.

Iripins Grile Gar $iln Bfiil

Domestic tourism has seen strong growth in recent years, although it was
affected to some extent by the economic downturn in 1998. The rise in domestic
tourism reflects special promotions, an increased number

of days taken as

holidays and, above all, higher standards of living. Rapid improvements in the
transportation system have provided faster and easier ac@ss to tourism
destinations. With the implementation of the five day work week, domestic tourism
has also been given a big boost. Taiping being situated 20 mins drive off the North

-South Expressway is in a vantage position to capitalise on the 10 million pcu

(passenger car units) traffic that passes through yearly.

The Government has launched a campaign to encourage the local population to

visit the many interesting places in their home country instead of overseas. The
local retiree population is a great potential market that is still relatively untapped. lt

is an increasing trend for local bus operators to organise day trips for retirees to

visit local places of religious and touristic interest. This activity should

be

encouraged as the increasing numbers of retirees have extra disposable income

and time on their hands.

The building of budget and medium-priced hotels, and the restoration of historical

sites, as well as the upgrading of public amenities, have also facilitated the
development of domestic as well as international tourism, which is expected to
expand further in 2005-09.

Under the

th

Malaysia Plan, the private sector has been encouraged its part by

introducing new tourism products especially in the eco-tourism sector. Domestic

tourism will be further developed to contribute to the growth of the tourism industry

and will remain a priority. Programmes to promote domestic travel and tour will
focus on nurturing a planned holiday culture among Malaysians and encouraging

the local population to explore the diverse and interesting attractions in the
country. ln this regard, various exhibitions, fairs and special events will be
organised to promote value-for-money tourism packages and generate year-round
28

Taining Gatle Car Sdn Bhil

?

brand awareness for domestic tourism. The Cuti-cuti Malaysia tour packages,
student travel programmes and Bas Rombongan for special interest tour groups
will continue to be extensively promoted to boost domestic travel and tour.
To increase more domestic travel and tour, the private sector will be encouraged to
provide better recreational facilities as well as accommodation ranging from high-

end to the more affordable in order to cater for different target groups. The
expansion of LCC terminal capacity and more competitive routes are also
expected to facilitate greater domestic travel. The Federal and., state tourism
agencies will collaborate with the private sector to jointly organize extensive
marketing campaigns through interistate exhibitions and road shows to promote
domestic tourism in their respective states.

A major target market of the Taiping Cable Car is the Malaysian domestic tourism
market. The population catchments living within a t hour drive from the Taiping
Cable Car is more than 3 Million and 2 hour drive is more than 7 Million.

A conservative market penetration of 10% per annum would

attract

at

least

7O0,OO0 pax a year!

4.2,3 Demand
Some 10,9+2,692 tourists comprising 50% of tourists to Malaysia came from
Singapore in 2007, and many of these stayed for only a short time. The secondlargest number of tourists in 2007 came from lndonesia 1,B04,sgs (8.6% of the
total). The largest market beyond the Association of South-East Asian Nations
(A$EAN) in 2007 was China 689,293, accounting for 3.5% of tourists, followed by
lndia (2%) and Japan (1.1o/ol. The most important non-Asian source of visitors in
2007 was Australia (1.4o/ol, closely followed by the UK. The average length of stay

just under six days. Receipts from international tourism grew to RM44.5 Billion
Around 50% of travel to Malaysia is classified as leisure travel. Business travel
is

constitutes another 10%. The other 40%

is listed as "othef, which

probably

includes a high share of visits to friends and relatives, reflecting the close business

and personalconnections between Malaysia and Singapore.

Taluing Galle Gu $dn

[hil

4.2.4 Supply-Tourism
Malaysia has a wide range of tourism destinations and a well-established system

of handling visitors. Destinations vary from Kuala Lumpur, which offers shopping,
entertainment and other capital-city attractions, and the beach destination of
Penang (one of the first to be promoted in Asia), to the states of Sabah and
Sarawak in eastem Malaysia, with their naturaland adventure-tourism attractions.
According to the official statistics on hotel guests, 31.7o/o of all visitors stayed in
Kuala Lumpur or its environs in 2007, with 33% staying in other destinations on the
western coast of peninsular Malaysia (a figure that must include a targe number of
Singaporeans staying in Johor state, which adjoins Singapore).

The island resorts (for example, Langkawi lsland) accounted tor 7.4o/o of hotel
stays in 2007, slightly more than the traditional highland resorts (except the
Genting Highlands, where there is a casino), which attract many domestic visitors.
Perak itself has a total of 10 tourist destination spots amongst which are:

10 PRODUK PELANCONGAN

.
o
.
.
.
.
.
.
.
.

Kompleks BerseJarah paslr Salak

Eko pelancongan, Taman Negeri DlRaJa Belum
Pulau Pangkor, Lumut dan Manjung
Air TerJun Lata KinJang
Santuarl Burung Kuala Gula
Hutan Paya Bakau Kuala Sepetang
Gua Tempurung Gopeng
Bandar Tertua Taiping
Bandar DiRaJa Kuala Kangsar
Bandaraya Ipoh

4.2.5 Eco Tourism

Eco Tourism is booming in

Asia. A

number of countries have embarked on

vigorous eco tourism development program$ to bolster the perceived economic

benefits

of

tourism. Malaysia with

its nature-based attractions is in

advantageous position in the promotion of eco tourism.

an

Ialning CaHe
I

Gar $dn Ehil

The Eighth Malaysia plan was designed to booEt the country's tourism industry by
popularizing country's considerable natural attractions. The Ninth Malaysia Plan

will further promote eco tourism, which is particularly targeted for

intensive

development.

Eligible projeck include the mnstruction of new accommodation and recreational

facilities, This strategy focuses on eight tourist destinations most of which are in
naturalarea$. They include Langkawi, Penang, Pangkor, Taman Negara, Malacca,

Perak, and Mount Kinabalu. The plan emphasizes capitalizing on existing

attractions and promoting sunounding tropical hinder lands.

Perak has the one of the largest land area and forest reseryes and gazetted
National forest parks among the states of Malaysia. The $tate Government is
actively promoting eco-tourism in the State and the Taiping Cable Car is one of the
rnost exciting eco-tourism projec't formulated todate.

As evidened by the Langkawi Cable Car, visitors can get to erperience at close
hand, the diverse flora and fauna of the unique rain forest in a safe, comfortable
and controlled environment.

31

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I,

4.3 Passenger projections for year 2012

The most accurate method of forecasting annual attendance, and the method
uniformly adopted within the tourist industry, is by applying market'penetration'or

'capture' rates to the available resident and tourist markets.

The penetration rates for "majof' tourist attractions from 20 to 40 percent in the
primary and 10 to 15 for the secondary resident market. These penetration rates
have been achieved in resident market segments with reaches of 0 - 80 km and 80

- 165 km by road respectively.

ln estimating likely penetration rates for a tourist attraction in the planning stages
the following criteria need to be taken into consideration:

penetration rates decline in proportion to the quality and quantity of

competitive leisure/entertainment attraction. This factor is very much
in our favour for this proiect.

penetration rates for the tourist market are a function of the average
length of stay and purpose of visit.

uncertainty of the reception of the product by the local market.

the demographic charac'teristics of the markets.

the prevailing economic conditions in the mad<et place.

Recognizing these limiting factors, the subsequent attendanre projections for the
Cable Car have been based on a best estimate of penetration rates for the first

year of operation, with an underlying assumption that a high quality product is

created and an effective marketing strategy is implemented.
A failure to find acceptance in the ma*et place in Year 1 will handicap attendance

growth potential in all subsequent years. Likewise, poor acceptance by the local
market can seriously affect the penetration of the tourist market due to negative

"word of mouth" advertising. However, with the benefit of the experience the

If,ining Gable Gr$iln Bhd

Langkawi Cable Car, it can be concluded that the Taiping Cable Car would be a
a

widely attractive tourism product which can pull in the expected crowds.

The composition of the total available market has been analylzed in terms of
residentrs and tourists. By applying appropriate penetration rates to each market

segment it is possible to calculate the projected attendance from each category.

The total anticipated attendance can then be compared to the total available
market to determine an overall market penetration rate for the park.

This forecast is based on the assumption that the Cable Car will be a quality,
innovative design, be priced realistically and be professionally managed to the
standard expected of major tourist attractions.

35

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Taining GflHG Gar$dn Bfiil

4.4 MARKETING OBJECTIVES

TCC$B's primary marketing objective will be to attract most of the visitors to
Taiping to ride the cable car. lt is assumed that 12 olo of the visitors to Taiping will
ride the cable car. TCC$B aim to increases it to 20% within two years. lt is also
assumed that 6 to 10% increase in tourist arrivalto Taiping specifically attributable

to cable car. TCCSB aims to increase it to 20% (The general trend in other
countries is around 20 to 30%)

4.5 MARKETING $TRATEGIES

Taiping Cable Car Sdn. Bhd. will plan strategies to attract more visitors to the
cable car. The company will work closely with tour operators in locally, nationally
and intemationally to place the cable car attraction in their agenda. The company
will also plan other seasonal activities to attract different interest and age groups.
The company will also plan programs and promotions to attract the tourists visiting

from Malaysia to Taiping and the cable car. The company will also design and
promote merchandise to improve revenue.
The first year budget of RM500,000.00 for promotions will ensure that Taiping and
the Cable Car will attract tourists both locally and internationally.

The TCCSB will advertise in all tourist related and general publications and
periodicals. The leading tour agents around the world will be briefed on the cable

car and related attractions. lt will also coordinate with Ministry of Tourism to
include the cable car as one of the premier attractions in their promotion. A special

home page for cable car will be launched. There are plans to launch wedding
specials; moonlight dinner specials and special group promotions aimed at lean
traffic timings. ln the first year it is aimed to attract

37

14o/o

of the potential visitors to

Taining Gaile Gar $iln Xhil

the Taiping area to ride the cable car. The company will set its goals to improve
this to around 257o within three years.

4.6. SALES
4.6.1 PRICING
The average ticket price for a return trip is RM17.50. This average price has taken
into account the discounts offered to elderly, children and group tours. This pricing
is comparable to other operations of similar nature in other parts of the world.

LangkawiCable Car

RM30 return

Singapore Cable Car

SD 8 return or (RM19)

Hong Kong Peak Tram

HKG 30 return (RM 15)

Ngong Ping Cable Car, Hong Kong

HKG88 return (RMrl,4)

Skyrail at Kuranda, Cairns, Australia"

AUS 2245 return (RM62

Blue Mountain, Sydney, Australia

AUS 8 return (RM23)

Table Mountain, South Africa

Rand 115 return (RM68)

Santubong Cable Car, Sarawak

RM30 return proposed

Taiping Cable Car

RM{7.50 retum proposed

RM 128)

From the table above, the Taiping Cable Car is appropriately priced in the middle
range and should be able to achieve its targeted rider ship as it willgive the visitors

value for money.

The Taiping Cable Car investment potential

is

based on the ability of

approximately 700,000 visitors to spend an average of RM17.50. The percentage

of tourisi visitation will determine if this figure should be reduced due to lower
spending patterns of the resident market. At this per capita spending rate the
annual revenue of M$8.75million suggests a warranted investment level between
RM55-65 million with a payback range ol 10-12 years. A lower per capita spending
would decrease the investment on a proportionate basis while a higher per capita
spending will accelerate the return period.

Talning Gaile Gar$dn Bhil

4.6.2 RETAtLtNc
TCCSB plans to operate retail counters and snack counters in stations. The retail

outlets will sell promotional items on Taiping, Cable car and also permitted
geological specimens. The general trend elsewhere around 30Yo of the revenue is

-_

realised from merchandise sales. TCCSB plans to exploit this segment to the
fullest. Revenue and profits from retailing and merchandising activities are NOT

taken into account in the financial analysis of the cable car operations but will
serve as a buffer for funding cash flow deficits in the operating revenue of the
cable car.

4.6.3 PROMOTIONS AND DISPLAYS

TCCSB plans

to promote the cable car facility by prominent displays

and

advertisement brochures in all the airports in the country and also at selected
countries. Some of the displays will be on reciprocal basis by allowing partners to

display

in cable car stations. TCCSB also plans to raise revenue from

advertisements

spae in stations and cable car. TCCSB also plans special

promotional packages for cable car ride..

TCCSB will work closely with the State and Federal Tourism Authorities to
aggressively promote the cable car the moment construction work commences as
it will give a lead time of at least 12 months before operations @mmence. Media

and road show promotions showcasing the cable car wilt be organized through out
the country to create awareness of the Taiping Cable Car.

39

Ttifins Gaile Gar $iln

>

4,7

[[d

RISK ANALYSIS

INTRODUCTION

The purpose of this section is to discuss the aspect of risk associated with Cable
Car development. Although there have not been a c,ommercial failure in the
development of cable c:trs in this region, the risk factors involved will also be
considered in this particular case to answer questions raised on the financial risks
involved in such a project.

CAPITALIZATION RATES

Historically, cable car has been considered to fall into the higher-risk, lower-reward

category of potential investments. However, as the cable cars are increasing in

popularity over the years because of its environmentally friendly tag and its ability
to produce solid and predictable financial performance, capitalization rates have
steadily dropped.
Due to strong encouragement from the Government, the capitalization rates have
been dropped. The Tourism lnfrastructure Fund has been relaxed to provide loans

of up to 80% of total project costs reinforcing the view that such projects

are

needed and are commercially viable.

PREDICTABLEPERFORMANCE

Cable Cars have become such a known product in this part of the world that their
performan@s are highly predictable. However, predictability implies knowledge of

1)

the propensity of the marketplace to attend the attraction.

2\

the ability to capture from the marketplace.

3)
4)

the expectation in per capita spending, by category of erpenditure.

the cost to maintain and operate the facility.

Thus, unless a cable car installation substiantialty deviates from the norm, the

Taipins Grble Gar8iln Bhil

performance of it can be very predictable.

However, the risk regarding the Taiping Cable Car becomes apparent when we

answer the firct three questions. These are areas that cannot be positively
quantified because the historicaldata simply does not exist.

On the other hand, there are some factors which can be predicted and will
decrease our risk factor, namely, the cost of maintenance and operations. The
Cable Car is planned to be new and exhilarating, yet the vast majority of its
facilities are proven and tested systems which are known to be safe, reliable and
readily maintainable. lt will be the theme, the ride erperience and environment that

will present the product as being unique.

The following chart conveys the options of minimum and maximum risk for the
Cable Car. Ultimately, the developer is better prepared if they consciously enter
into the maximum risk category in areas where it may not be avoided. However,
caution is recommended if in reviewing the fuctors below it is found that the Cable
Car is frequently in the high risk areas.

RISK FACTOR

MINIMAL RISK

HIGH RI$K

lnvestment level

Adequate but not

excessive

Too low- inadequate

capacity and
Too high-cannot get
the return on
investment

Product

Known, established

Experimental, new

Climate

Year Round

Seasonal

Management

Professional,
experienced

Non-professional,
inexperienced staff

Market

Representative
demographics

Abnormal
demographics, sparse
residential market

Entertainment
eryerience

Reasonable price and

adequate capacity

Excessive price,
inadequate capacig

41

Tainlng GrUe Gar$dn

lhd

SUMMARY

A short analysis of the risk factors of Taiping Cable Car includes:

lnvestment Level( Minimum Riek)

Experienced design and input can result in cost savings and investrnent
costs. The abili$ to design and build the facility on time is assured by the
Govemment of Perak, the investment level can also be optimized.

Product ( Minimum Risk)

An established and proven tourism product

Climate (Moderate Riskl

With the exception of strong winds, the cable car is operable in rain or shine

Management ( Minimum Riskl

Experienced management team involved in building and operations. Lack of

experience in key operational management would put projec{ in high risk

category

llrlarket ( Moderate Risk )

Even though demographics and statistics may support the project, the
reaction of the market is still speculative.

Entertainment Experience ( Minlmum Risk)

Value for money and ride experiene is assured as proven in a number of
cases in this region.

ln summary, the only factor which is beyond management control and is in the
maximum risk categpry is the existing make-up of the local residence and their
willingness and ability to pay and visit the Cable Car. All other factors are in the
minimum risk category or are at the discretion of the developer.
Therefore, it is the conclusion that the success of the Taiping Cable Car is largely
under the conlrol of the current management team.

Taining Gaile Gar $iln Bhil

5.

P ERATI O N S O RGAN I SATI O N

til;

rl

i.,

z'\
Operation Engineer
t----.--.-.----

**---'--vt'

ir
t:

Assistant
Electrician

Electronic

Technical

MechanicalSpecialist

Teehnician

$ecurity
Utility Handyman

5.3 MARKETING ORGANISATION

MARKETING

45

6
2

Taining Ga$e 8ar$iln Xhd

+

3. The Project Director, Mr Alan Tan $rvooi Heng has a Diploma

in

Building from Kolej Tunku Abdul Rahman. He held senior positions in a

number of Public Listed Companies including Paramount corp and the
Berjaya Group before setting up his own project management company
which was instrumental in the development of the Langkawi Cable Car and

the Upgrading of the Penang Hill Railways which received the

Excellence Award

"CIDB

* Grade 7" lor year 2011. He is now a consultant to a

number of property development and cable car projects in Malaysia.

4.

The Technical Adviser will be Mr. Hilar Manz, a former design and

maintenance engineer with Doppelmayr $witzerland. He has helped to

design and install a number of Cable Car installations in Europe. He also
served as the technical adviser of the Langkawi Cable Car. He is presenfly

an

and has been appointed as

lndependent Tester for the operations of the upgraded penang
independent Ropeway expert

Funicular Railways

the
Hilr

'9 Management; ftfi

Iahins Gaile Gar $dn lhd

pin:istration

5.1 Management

{. The Executive
Bachelor

received

Chairman, Dato SeriTalaat Bin Hussain , graduated with a

of Social Sciences (Hons) from Universiti Sains Malaysia.

his Masters Degree in

He

Professional Studies (lnternational

Planning) from Cornell University, United States of America. He had also
attended the Senior Executive Program at London Business School, United
Kingdom and the Advanced Management Program at Harvard Business
School, United States of America.
He started his civilservice career as an Assistant State Secretary in
Penang and since then held several key positions in the Prime Minister's
Department, Socio-Economics Research Unit, National lnstitute for
Public Administration, National Palace and the Ministry of Education. He

served as Mayor of lpoh, Perak from 1998 to 2001 and held the positions
of Secretary General at the Ministry of Youth & Sports and later at the
Ministry of Domestic Trade & Consumer Affairs Malaysia.

Currently, he sits on the Board of Shell Refining Company (Federation of

Malaya) Berhad and Silver Bird Group Berhad. He is also a member of
Outward Bound Trust of Malaysia.

2. The Managing Director, Hj lbrahim Hj Hamzah obtained a Bachelofs

Degree in Economics from Universiti of Malaya in 1971 and a Master's
Degree in Economics from Universiti Kebangsaan Malaysia in 1980. His
other qualifications include a Diploma in Management $cience (INTAN) and
a Diploma in lndustrial Management (Delft).

He is currently a Director of Laten< Partners Berhad, a Taiping based

company listed on the Second Board of the KLSE and Executive Chairman

of Metrology Corporation Sdn Bhd, the privatized arm of the Weights and
Measures Department of the Ministry of Domestic Trade and Consumer
Affairs, Malaysia.

43

Taining GaDle GarSdn Bhil

L

Financial Projections

6.1.1. Cost Estimutes

ELETTIENTS

Euro

EQUIPMENT COST

*
*
"

7,000,000.00

28,000,000.00

Cables
Station equipment
Mechanicalequipment
Electricalequipment
5,000,000.00
2,500,000,00

HELICOPTER SERVICES
9 TOWERS

lll
B

convercion rate of Rlll4 to Euro 1

Cable Car Equipment with electromechanic equipment

ctvrL woRKs
LOWER STATION BUlLDlt'lGS INCL
SUBSTRUCTURE WORK

(i)
(ii)

(ilr)

Foundations
Site preparation / protection
Building Works incl. car park

1,000,000.00

700,000.00
2,000,000.00
3,700,000.00

il

0
(iD

(ilr)

UPFER STATION
Site preparation/protection
Foundations
Building Works

1,000,000.00

1,000,000.00
2,000,000.00
4,000,000.00

ii

& E INFRASTRUCTURE
PRELIMINARIES

PROFESSIONAL FEES 506

2,600,000.00
2,000,000.00
47,800,000.00
2,390,000.00

TOTALCOST

46

50,190,000.00

Itidru

Caile Car $dn

l}

6.2

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E

Taining GailG Gar Sdn Bhil

"

Funding Requirements & Proposals

6.1 Financing Packages

6.1.1 Term loan for Construction of Cable Car Svstem

o Borrower
o Amount of Facility
. Purpose

Taiping Gable Car Sdn. Bhd.

RM50,190,000.00
:

Construction of Station buildings, purchase

machinery
equipment &
refurbishment of villas.

of

and

Disbursement

Draw down to be disbursed upon

completion of legal documentation and
acceptance of the terms and conditions of
the facility AND certification by Architect on
the progress of work.

lnterest Payment

Payable QUARTERLY in arrears

. Security

Against a legal charge or a debenture on

the assets purchased and Assignment of
concession Agreement

Tenor

15 years with 1 year grace period.

Repayment

The loan will be repaid progressively

commencing ONE (1) year after the first
draw down by way of equal monthly
deduction to the end of the Repayment
Period

50

Iaining Ga$e Gar$dn 0fil

t

Conclusion

The Taiping Cable Car proiect is a financially and economically viable projec{ due to
a number of factors:

(r)

Growth Market
The project is being implemented in a growth market which has been
identified as a key engine of growth for the Malaysian economy.
Government support for.this industry is evidenced by the RM1.8 Billion
allocation under the 9'n Malaysia Plan and the many events and
promotions undertaken by both the State and Federal Ministries of
Tourism.

With such support, the tourism industry is set for high growth and being
a tourism product, the Taiping Cable Car would benefit and do well
financially.
(2t

Risk
The risk facing the company can be considered as minimal, especiaily
when all-important parameters are taken into consideration and with
the support of the Tourism Agencies of both Perak and Malaysia.

(3)

$ensitivity to Economy
The Company is able to sustain to any eventuality of slow down in the
economy or the international tourisdr trade as it caters mainly to the
domestic tourist trade.

(4)

$ustainabilify and Growth of the Revenue.

The Company has identified areas of involvement in the years ahead
to ensure sustainability and strong growth in the industry. The Master
Plan for the Hill top when implemented in stages will spur interest and
attract recurrent visits to facilities and increase rider-ship on the cable
car which will in turn sustain the revenue growth.

Based on the above factorc, the viability of the project is assured and
financing for the development of the Taiping Cable Car is highly
recommended.

51

Iainlng Gable Gal$dn

lfiil

APPENDIX

Directors' Profile

APPENDIX 2

Company Certificate of lncorporation

APPENDIX 3

Copy of Memorandum and Articles of Association

APPENDIX 4

Copy of ROC Form 24

APPENDIX 5

Copy of ROG Form 49

APPENDIX 6

52

rl

I
!I

, The Authorised

Ialpln0 GrDleGugln Ehil

will be inueased to RM10900900.00
and the shareholding structure of the Company shall h maintained at7$o/a Bumiputra: 307o
Non-Bumiputrato comply with guidelines forthe Tourism In*astructure Fund.

and paid-up capital of the Company

I
I

L*

L-J

{.r

I
l

I
l

t*

L:
I
I

l
l

l
l

t1

54
l

Tainlns GrtleGu$ilnDhd

}
&sfr_@(J

DIRECTORS PROFILE
INTRODUCTION
Taiping Cable Car Sdn Bhd is a newly set-up company which has signed a concession
agreement with the State Government of Perak to develop a cable car system up Bukit Larut,
Perak Darul Ridzuan.

Its core team members have the benefit of experience in the planning design, construction
and operations ofcable cars.
This profile will provide relevant information on the Company and profiles of the Directors
The Company is headed by Y. Bhg. Dato Seri Talaat Hussain, a former senior Government
olficer who is now engaged in diversified businesses.

He is assisted by Hj. Ibrahim Hamzaho a former senior govemment servant and presently
Executive Chairman of Metrology Corporation Sdn Bhd and Mr. Alan Tan Swooi Heng, the
Project Management consultant for a number of cable car and funicular railways projects in
Malaysia, Singapore and Thailand.

2.

DIRECTORS OF COMPAITY*

NAME

DESIGNATION

DATO SERI TALAAT HUSSAIN

Executive Ghairman

IBRAHIM BIN HAII,IZAH

Director

TAN SWOOI HENG

Director

3.

SHARE CAPITAL*

AUTHORISAD
PAID UP
I

SHAREIIOLDERS

500,000 SHARES

oF RM I EACH

.:

500,000 SIIARES

oF RI\{ I EACII

DATO $ERI TALAAT HUSSAIN

IBRAHIM BIN HATIIZAH
TAN SWOOI HENG

$HARE
SHARE
SHARE

53

- 150,000
- 200,000

. {50,000

Irinins

GrblG

Gu$dn

[lil

DIRECTORS PROFILE
p

e
.

DATO SERI TALAAT HUSSAIN

The Executive Ghairman, Dato Seri Talaat Bin Hussain, graduated with a

Bachelor

of Social Sclences (Hons) from Universiti Sains Malaysia. He

received his Masters Degree in Professional Studies (lnternational Planning)

from Cornell University, United States of America. He had also attended the
Senior Executive Program at London Business School, United Kingdom and

the Advanced Management Program at Harvard Business School, United

States of America.

He started his civil service career as an Assistant State Secretary in Penang

and since then held several key positions in the Prime Minister's Department,
Socio-Economics Research Unit, National lnstitute for Public Administration,
National Palace and the Ministry of Education. He served as Mayor of lpoh,
Perak from 1998 to 2001 and held the positions of Secretary General at the

Ministry of Youth & Sports and later at the Ministry of Domestic Trade &
Consumer Affairs Malaysia. Currently, he sits on the Board of Shell Refining

Company (Federation of Maiaya) Berhad and Silver Bird Group Berhad. He is

also a member of Outward Bound Trust of Malaysia.

HAJI lBRAHlIt, HAIIfrZAH

The Managing Director, Hj lbrahim Hj Hamzah obtained a Bachelofs

Degree in Economics from Universiti of Malaya in 1971 and a Masteds
t-

Degree in Economicsfrom Universiti Kebangsaan Malaysia in 1980. His other

qualifications include a Diploma in Management Science (INTAN) and a
Diploma in lndustrial Management {Delfi).

He is cunently
j

Director

of Laten Partners Berhad, a Taiping based

company listed on the Second Board of the KLSE and Executive Chairman of

sdn Bhd, the privatized arm of the weights and

Measures Department of the Ministry of Domestic Trade and Consumer
Metrology corporation
Affairs, Malaysia.

55

Taidng Grtle Gar $iln B[d

MAT ISA BIN EMBI

The Marketing Director En Mat lsa Bin Embi is curently running the Retail
Operations of the Langkawi Cable Car and will begin marketing work once
construction work on the Taiping Cable Car starts. This will enable the cable
car operations and marketing to run smoothly once operations commenc.

TAh[ SWOOI Hr'.NG, ALA][

The Proiect Director, is a graduate with a Diploma in Building, TAR College,
with more than 20 years of working experience in the property development
field having served in various positions in some of the leading property groups

in the country amongst wfrich are the see Hoy chan and Berjaya Group of

companies. work experience includes land aquisition, planning and

development of residential, commercial and industrial properties as well as
hotel and resort development.

Presently

a project and property management consultant to a number of

private companies and statutory bodies including the Langkawi Development

Authorig and the Melaka $tate Government.

Jobs undertaken include being the project management consultant for the
development of the Langkawi Cable car Project in Langkawi, Kedah by the
Langkawi Development Authority. This fast track project, \rhich is now in
operation, was completed within 15 months of work commen@ment after 6
months of planning and design
He had just completed the RM60 Million Upgrading Works for the Penang Hill
Funicular Railways and was awarded "Excellence Award
2011" from CIDB.

56

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