Hong Kong Disneyland executives expect the theme park to make handsome returns this year, thanks to surging visitor numbers and the opening of a new magical zone

October 30, 2013 Leave a comment

Magical lift for Disneyland returns
Tuesday, October 29, 2013
Hong Kong Disneyland executives expect the theme park to make handsome returns this year, thanks to surging visitor numbers and the opening of a new magical zone. At a Legislative Council economic development panel meeting yesterday, tourism commissioner Philip Yung Wai- hung said the theme park has welcomed more than 43 million visitors since it opened in September 2005.Disneyland managing director Andrew Kam Min-ho said ever since the new Mystic Point opened in May, financial returns have been “satisfactory.”

Disneyland made a HK$109 million profit for the first time last year, as revenue rose 18percent to HK$4.3 billion.

Visitor numbers increased 13percent to 6.7 million last year compared to 2011, with 45percent from the mainland, 33percent local and the remainder from the international market.

Separately, lawmakers demanded that Disneyland pay its employees for lunch breaks.

In reply Kam said: “We will pay if the government legislates.”

Tourism sector lawmaker Yiu Si- wing questioned how Disneyland will retain its competitive advantage once the attraction in Shanghai is built.

Kam replied that the Lantau park is of a different design and has its own special features and events.

As regards entrance fees, he said decisions to further increase charges will depend on the pricing of rivals and the demands of visitors.

STAFF REPORTER

Filed under Macro Trends

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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