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Hatten Land (formerly: VGO Corporation)
07-08-2018, 12:42 PM.
Post: #11
RE: Hatten Land (formerly: VGO Corporation)
Hatten Land Unveils Plans for RM200 Million (USD49.2 Million) Water Theme Park, Melaka’s Largest, In Collaboration With Samsung C&T and Polin Waterparks

Highlights :
* Collaboration agreement for 500,000-sq ft Splash World @ Harbour City signed in presence of Melaka Chief Minister, YAB Tuan Adly Bin Zahari
* Slated to open in the first half of 2020, the project will catalyse growth of tourism in the historical city and help open up economic and job opportunities
* The waterpark will be the first ‘in the sky’ theme park and can accommodate up to 5,200 visitors
* Nestled between two 30-storey towers on the 14th floor deck of Harbour City @ Melaka
* Splash World @ Harbour City hopes to attract 850,000 to 1.0 million visitors annually after the first year of operation.

Samsung C&T’s resort group is the owner and operator of South Korea’s popular Everland Resort, which hosts 8 million visitors per year. Everland Resort consists of the Everland theme park, which integrates attractions, shows, zoos, and gardens, as well as the Caribbean Bay waterpark, which features world class facilities and services. It is a leading global operator and service provider for resorts, as well as golf courses, food supply and landscaping.

Polin Waterparks is a multi-award-winning global leader in the design, production, engineering and installation of waterparks and water slides that incorporate efficient smart design features. With a track record of 3,000 waterpark projects in 105 countries, it is the largest water slide supplier to waterparks in Eurasia.

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11-05-2019, 02:58 PM. (This post was last modified: 11-05-2019, 10:29 PM by weijian.)
Post: #12
RE: Hatten Land (formerly: VGO Corporation)
These guys just did a RTO 2 years ago into Catalist board. Now it wants to go onto the Mainboard - without the scrutiny of a IPO due diligence process or even last 3 years of financial reports! How convenient!


The board of directors (the “Board” or the “Directors”) of Hatten Land Limited (the “Company”, and together with its subsidiaries, the “Group”) refers to the Company’s announcement dated 30 January 2019 regarding the Company’s intention to undertake the Proposed Transfer. The Board wishes to announce that SGX-ST is unable to allow the Proposed Transfer at this point. SGX-ST is of the view that the Company’s application for the Proposed Transfer is premature. The Company is not precluded from re-submitting an application for the Proposed Transfer to SGX-ST at a later date, after the release of its audited financial statements for the financial year ending 30 June 2019.

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30-07-2020, 10:56 AM. (This post was last modified: 30-07-2020, 10:57 AM by weijian.)
Post: #13
RE: Hatten Land (formerly: VGO Corporation)
Recently, Hatten Land, a master developer of prime plots in downturn Melaka, announced it would be paying a 6mil USD stake for a 20% stake in a digital technology firm. The payment would be satisfied fully in newly issued shares. The firm was incorporated 2 years ago and burnt 40% of its paid-up capital after 1 year, and yes this lobang was introduced by a long time friend of the Chairman, and this friend happens to own it.

I have been to Melaka not longer than 2 years ago as a tourist. I am not sure if many of the individual vendors (trishaws, night market stalls or the various tourist-themed shops) would be nudged to move to "digital" and be part of the "ecosystem". Finally, some of the existing epayment schemes in Malaysia like GrabPay, Touch N Go and Boost have big backers and already have first mover advantage.

I am not sure what kind of digitization can happen there in the short to mid term, to be honest. Of course, I am not a Dato and can't visualize so far! But it is quite clear that Hatten Land is facing strong short term headwinds due to covid-19 with the property downturn as a double whammy. I do have my suspect as to what will eventually happen (not appropriate on a public forum) and probably will continue to observe to see what pans out.


Query 1: How was the purchase consideration arrived at? Hatten is paying US$6 million for a 20% stake in ECXX, whose paid up capital is only US$5.8 million. ECXX was incorporated in October 2018, as at 31 August 2019, its net asset value is US$2.4 million and loss of US$1.2 million.

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30-07-2020, 11:27 AM. (This post was last modified: 30-07-2020, 11:28 AM by brattzz.)
Post: #14
RE: Hatten Land (formerly: VGO Corporation)
i like melaka...Hatten's projects, doesn't look occupied, we stayed in the little BnB hotels, rather than big names..... anyway, it's just another way of onboarding the "digital wagon"... :O :O :O
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