The Malaysian Insider :: Features
The Malaysian Insider :: Features |
| Enjoy a taste of Latin America on May 18 at bbpark Posted: 27 Apr 2014 07:31 PM PDT The Embassies of Argentina, Brazil, Chile, Colombia, Cuba, Ecuador, Mexico, Peru, Uruguay and Venezuela, together with the Low Yat Group, have joined forces to offer Malaysians their music, food, dances and handicraft. All the proceeds from the festival will go to charities. As Brazil prepares to host the World Cup in June, the Latin American countries have also gathered to celebrate the sport. The continent hosts football's biggest event after a 30-year gap and to complete the Kuala Lumpur celebration, a lucky person will walk away with a round trip to Latin America. Each Latin American Embassy will have a stand in the event. You will find typical food and beverages, original handicrafts and tourism information. Highlight of the day includes cultural performances with their multi-coloured costumes and Latin American flavours. The festival takes place at bbpark, Jalan Bukit Bintang, May 18, from noon to 8pm. – April 28, 2014. |
| Berthing pains for Asia’s rich put wind in the sails of marina developers Posted: 27 Apr 2014 07:16 PM PDT Yacht sales in Asia currently account for 9% of the global market share, according to consultancy Wealth-X. While the number falls behind North America's 44% and Europe's 34%, industry experts expect sales to pick up rapidly within the next few years as the number of multi-millionaires in the region increases. The boom has far outstripped infrastructure growth, resulting in some awkward moments when boats pull up to moor. The shortage is most acute in Hong Kong and Singapore where space, whether on land or on water, is scarce and the number of multi-millionaires among the highest in the world. Singapore's ONE15 Marina Club, where monthly berth rentals cost S$10,000 (RM26,000) for a 40-metre boat, is currently at full capacity. Hong Kong's Discovery Bay Marina Club, where berth rentals start at S$6,000 for a similar sized yacht, is also full. "There's always been a big dream to have an 'Asean–ian' concept in competition with the Caribbean and Mediterranean," Bill Green, technical projects director for Camper & Nicholson First Eastern told Reuters, referring to the Association of Southeast Asian Nations (Asean) which groups several Southeast Asian countries. "But there's no real day sailing going on in the region at the moment because there just aren't enough marinas," he said. The distance between the marinas currently in the region makes day trips unviable, he added. Camper and Nicholson First Eastern specialises in designing and making luxury yachts in Asia. The dearth of berths is providing an opportunity for developers such as Malaysia's largest listed property developer UEM Sunrise, which is building facilities in Malaysia's Iskandar region. The area neighbours Singapore and is already home to the Puteri Harbour development. Further north, the city of Melacca, a world heritage site, is planning to build Southeast Asia's biggest private marina, with some 1,000 berths, Malaysian Prime Minister Najib Razak said last month. And in the popular Malaysian tourist resort of Langkawi, property firm Tradewinds Corp Bhd is developing Perdana Quay, a marina project slated for completion within the next decade. Thailand, home to the 300-berth Ocean Marina Yacht Club, is also investing in new marinas in resorts including Krabi, hoping to lure more super-rich, big-spending tourists to its shores. Yacht brokers estimated that the number of yachts visiting Thailand will increase 31% from this year to hit approximately 2,100 by 2016, according to the tourism authority. Of that total, the number of superyachts, or those more than 24 metres long, is set to grow from 110 currently to more than 190 in the next two years, generating significant income. There are also expansion plans for existing marinas in Indonesia, said Alan Pickering, managing director of yacht broker ProMarine. "Indonesia has such a wonderful cruising ground that the potential for them is enormous," said Pickering. "But they need the marina facilities to support the growth of that industry." It costs around US$15 billion (RM49 billion) to build a marina, industry experts say, though estimates vary widely depending on factors including shore side conditions and seabed material. The growth prospects for yacht sales in Southeast Asia, currently among the highest in the world, are encouraging developers to make the investment. Asia's ultra-wealthy individuals, defined as having at least $30 million in net assets, are forecast to add US$3.3 trillion to their combined assets in the next five years, more than any other region in the world, according to Wealth-X. Another report by CapGemini and RBC Wealth Management last year said the population and wealth of Asia-Pacific's millionaires grew by up to triple the rate for the rest of the world over the last five years. "Asia is experiencing a faster growth than most parts of the world, with different markets and different levels of maturity in yachting, but all in any case with high potential," said Carla Demaria, president of yacht maker Monte Carlo Yachts. "We have markets like Malaysia and Indonesia where there are many marinas and luxury waterfront developments being built, so we see that there are a lot of extremely wealthy people," she told delegates at the recent Singapore Yacht Show, Asia's biggest industry event. – Reuters, April 28, 2014. |
| You are subscribed to email updates from The Malaysian Insider : Features To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 ulasan:
Catat Ulasan