Developer and operator of theme parks based in Malaysia, Sim Leisure Group Ltd, which is also the licensee operator of Kidzania KL, is set to construct and operate a new ESCAPE theme park located in Perak.
In a bourse filing on Singapore’s stock exchange, Sim Leisure said it has entered into a theme park agreement in relation to the project management of the construction and the operation and maintenance of an environmentally sustainable ESCAPE theme park in Jalan Tanjung Tualang Batu Gajah, Perak.
The agreement was entered by its wholly-owned subsidiary, Sim Leisure Rock Sdn Bhd, with TT5 Park Sdn Bhd and its wholly-owned subsidiary, TT5 Theme Assets Sdn Bhd.
According to Sim Leisure, the project land is a portion of the leasehold land measuring approximately 146 acres, owned and registered under the name of Menteri Besar Inc Perak (MB Inc) and leased to TT5 Park by MB Inc.
The lease has been registered for a 45-year period from 28 September 2021 to 27 September 2066 at the relevant land office in Perak.
Pursuant to the agreement, TT5 Theme Assets shall construct and own the theme park while Sim Leisure Rock shall develop the project and to operate, manage and maintain the park on behalf of TT5 Theme Assets.
This would be for an initial term of 30 years from the opening date, with an option to mutually extend the term for a further period of 10 years.
