KUALA LUMPUR (Aug 11): Perak Corp Bhd's unit Animation Theme Park Sdn Bhd (ATP) has injected an additional RM22 million cash into its Movie Animation Park Studios (MAPS) to enhanced the animation theme park in Perak.

The proposal, according to the property developer, is to ensure that MAPS becomes a favourite tourist destination in Malaysia and the surrounding countries within Southeast Asia.

"The development of the MAPS by ATP is in line with the intention of the board of Perak Corp to create a new earnings stream over the long-term," it told stock exchange in a filing with Bursa Malaysia today.

This is to complement its property development activities to provide it with a steady stream of income in future.

Perak Corp said ATP has entered into a supplementary agreement with The Sanderson Design Group (Malaysia) Sdn Bhd (SDGM), to implement a set of enhancement projects to the attractions in the MAPS.

Perak Corp surfaced as the majority shareholder in ATP, through its wholly-owned subsidiary PCB Development Sdn Bhd, after its partner RSG MAPS Sdn Bhd relinquished the majority shareholding position effective April 8.

"Barring any unforeseen circumstances, the proposal is expected to be completed by the end of March 2017," it said.

Shares in Perak Corp closed down six sen or 2.58% at RM2.27 today, for a market value of RM233 million.