Genting Malaysia OTP ticket price to be in line with regional theme parks — RHB

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KUALA LUMPUR (Oct 21): RHB Investment Bank Bhd said today that Genting Malaysia Bhd did not provide guidance on the ticket price for its proposed Malaysia outdoor theme park (OTP) but RHB gathered that it should be in line with regional theme parks.

RHB analysts Lee Meng Horng and Loo Tungwye, quoting Genting Malaysia management, wrote in a note today that the various types of tickets could include annual, day, priority and VIP tour passes.

"Dynamic pricing strategy is likely to be adopted, such that it will have different pricing for different seasons (peak, off-peak). No final ticket price was guided, but we gather that it should be in line with other regional theme parks (Universal Studios Singapore day pass is RM242/SGD79).

"Management is confident that the OTP will open by 3Q20 (in line with our assumption) and stated that it is currently restarting the process that was stopped last year. However, judging from the stage of completion and aggressive staff hiring in the past few months, we do not discount the possibility of an earlier opening," the analysts, who had earlier joined a tour of the planned OTP, said.

RHB maintains its “Buy” call on Genting Malaysia shares with a target price of RM3.90, they said. At 4:35pm, Genting Malaysia's share price was unchanged at RM3.05.