Singapore-listed Sim Leisure Group operates theme parks in Penang branded ESCAPE and has a water slide that is about to open and achieve a Guinness World Record title. (See: )

For some time, it has been approached by developers and mall operators to develop an indoor version of ESCAPE.

"Traditional shopping centres are evolving into lifestyle malls where urban populations fulfil their recreational needs in a familiar setting," notes CEO Sim Choo Kheng of Sim Leisure Group,which listed on Singapore Exchange in March 2019.


The company has now partnered with Paradigm Mall in Petaling Jaya to build and operate an indoor recreational centre, under an agreement signed with Jelas Puri Sdn Bhd, a subsidiary of KLSE-listed WCT Holdings Bhd.


watchnow



Sim Leisure has started construction of the 35,000 square feet indoor recreational centre. The Group will design, install and operate the centre under the tenancy agreement for up to 12 years.

Completion and official launch of the recreational centre is expected by end November 2019, before the year-end school holiday season.

ParadigmMall impressionArtist's impression. Paradigm Mall Petaling Jaya is a rising icon in the heart of Petaling Jaya, next to one of the busiest highways in Klang Valley, the Lebuhraya Damansara-Puchong.

Paradigm Mall spans six floors with 700,000 square feet of retail space and houses more than 300 outlets. 


Mr Sim said, “We are very proud of this partnership with Paradigm Mall Petaling Jaya given the affinity for play parks by parents and children. Installing the play area in the mall is a natural fit given that no other malls in Klang Valley has recreation centres of this genre.”

He added: “ESCAPE Challenge at Paradigm Mall marks the beginning of another business division we have been incubating for years. 

SimChooKheng 2.19Sim Choo Kheng, CEO of Sim Leisure Group which is listed on SGX. Photo: Company"ESCAPE Challenge will be our showcase indoor recreational centre which we will use as part of our growth strategies in China, Singapore and the ASEAN region.

"We foresee this indoor version of ESCAPE growing exponentially in the years to come as the retail shopping business continues to undergo a transformation.

"Following our initial public offering and a record year of profitability in FY2018, our global aspirations remain on track.

"We will continue to scale our proven and successful business model into new markets across the region that are awaiting a new genre of affordable and healthy family entertainment.”


Share Prices

Counter NameLastChange
AEM Holdings2.1100.060
AusGroup0.0420.003
Avi-Tech Electronics0.405-
Best World Int.1.360-
CEI0.980-
China Sunsine0.510-0.005
CNMC GoldMine0.270-
CSE Global0.5500.005
Eagle HTrust USD0.530-0.005
Food Empire0.680-
Golden Energy0.178-
GSS Energy0.0950.007
ISDN Holdings0.225-
ISOTeam0.230-
JB Foods0.630-
KSH Holdings0.415-0.005
Miyoshi0.032-
Moya Asia0.0770.003
Nordic Group0.310-
Oxley Holdings0.365-0.005
Procurri0.3300.005
REX International0.1810.007
Riverstone1.020-
Roxy-Pacific0.370-
Sing Holdings0.400-
SingMedical0.300-
Straco Corp.0.615-0.015
Sunningdale Tech1.290-
Sunpower Group0.5900.005
The Trendlines0.1090.002
Tiong Seng0.200-
Uni-Asia Group0.725-0.005
Yangzijiang Shipbldg1.040-0.020

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 1647 guests and no members online