In addition, the island shall encompass a sea with beach and terrace for sun loungers, a water park, a lagoon, a tropical village and a tropical plant world.ĭetails of the announcement are available from the Kuala Lumpur Stock Exchange website at and at Tanjong website, Do you guys know who Colin Au is? A Malaysian billionaire Also, Malaysia's cultural groups, musicians and dancers will have the opportunity to perform at the Tropical Island," Au elaborated.Īssuming that planning approvals and building permits are received by the end of the year, and the commercial agreement is completed, works within the CargoLifter hangar are expected to commence in the first quarter of 2004, and operations of the “Tropical Island” are expected to commence in the fourth quarter of 2004.Ī rainforest is envisaged to be at the centre of the island containing trees and plants from various rainforest zones such as South America, Africa, Asia and Australia, as well as streams, rivers and waterfalls. As a start, we hope to work with the Malaysian Tourist Promotion Board to feature Malaysia with its rich heritage of culture, arts, food, architecture, islands, resorts and its rainforest. "We plan to feature monthly exhibits of a tropical country or region.
The project cost will be funded through a combination of equity funds, shareholder's advances and bank borrowings to be secured by the German Companies.Ĭolin Au said, "We are confident that this project, when completed, will draw in repeat visitors, especially from Germany and its neighbouring European countries." It is estimated that the entire project shall incur a total cost of up to approximately EUR70 million (RM304.5 million) which includes the EUR17.5 million acquisition costs of the assets of CargoLifter AG Group. "The Tropical Island project therefore, presents an excellent opportunity for Tanjong to create a new intellectual property in the area of edutainment and leisure based holiday destinations with tropical island settings with a small capital outlay,” added Datuk Khoo.
Over the years, we have been continuously identifying opportunities for the expansion of our business in this sector." Under this agreement, the joint venture will have an initial issued and paid-up share capital of EUR5 million, and eventually an enlarged paid-up share capital of up to EUR30 million.Īlso, two German companies to be known as “Tropical Island Management GmbH” and “Tropical Island Asset Management GmbH” (collectively referred to as the "German Companies"), both 50% owned by TESB have entered into a conditional purchase and loan contract with Prof Dr Rolf-Dieter Mönning (“Liquidator”) for the acquisition of the assets of CargoLifter AG Group.Ĭolin Au, who has 30 years of experience and expertise in international leisure and tourism industries, shall be appointed as the Chief Executive Officer of the joint venture company, while the position of Chairman and Chief Financial Officer shall be nominated by Tanjong.ĭatuk Khoo, Chairman of Tanjong said, "This project is very much an extension of Tanjong’s existing involvement in the leisure and entertainment business. Tanjong Entertainment Sdn Bhd ("TESB"), a wholly owned subsidiary of Tanjong, has entered into an agreement with Au Leisure Investments Pte Ltd to form a 50:50 joint venture to develop the said resort. It is Tanjong's intention to develop the hangar, which is located in Brand, approximately 60 km south of Berlin, Germany into a resort destination which will house a variety of tropical settings such as a rainforest, sea, lagoon, beaches, water parks, exhibition centres and tropical flower world.
#CARGOLIFTER HANGAR SIZE FREE#
Included within these assets is the largest free standing hangar in Europe measuring 360 metres long, 210 metres wide and 107 metres high a visitors’ centre and buildings as well as freehold land of approximately 500 hectares. Kuala Lumpur, - Tanjong Public Limited Company announced today that the Group has entered into a commercial agreement to acquire the assets of CargoLifter AG group of companies for a cash consideration of EUR17.5 million (approximately RM76 million). Tanjong expands leisure business with tropical resort project
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