i-Berhad sees goldmine in wax museum

If assume 30,000 visitors a month, RM45 per pax, this translates into yearly revenue of RM16.2m, versus investment of RM25m.

Normal ticket prices at Madame Tussauds:
Hong Kong: HK$215 
Shanghai: RMB150
Sydney: $38
London: £30
New York: $36
Hollywood: $27.95
Tokyo: ¥1900 

PROPERTY developer i-Berhad expects revenue from its leisure sector to double to RM64 million this year. The bulk of the expected revenue will come from its latest attraction, the Red Carpet@i-City wax museum at its theme park in Shah Alam.

i-Bhd director Monica Ong told the Malaysian media, here, that the Red Carpet@i-City wax museum is the first of its kind in the country with its inclusion of interactive exhibits. She said 50,000 people are expected to visit the interactive wax museum monthly when it opens early next month. Entrance ticket is priced at RM80 for adults and RM40 for children. Family packages of RM180 will be made available for two adults and two children. The tickets will also be available online at RM100 each for tourists.

"This attraction is one of the tourism products for Visit Malaysia Year 2014 and has been aggresively promoted by the Tourism Ministry," she said after signing the agreement between Red Carpet@i-City and Zhongshan City Elephant Sculpture Art Co Ltd (ZCESA) here. Representing ZCESA, which produces the wax figures at its premises here, is its wax sculpture designer Zhao Xue Rong. Also present were the consul-general of Malaysia in Guangzhou Francisco Munis and i-Bhd executive chairman Tan Sri Lim Kim Hong.
Others include ZCESA's president Liu Zhen and the Red Carpet@i-City's Creative Design director Bernardo Munoz.

The interactive wax museum project at the i-City theme park is the brainchild of Lim who believed that it would become an iconic attraction for the whole family and it would attract both local and foreign visitors.

"We are investing RM25 million in the project. It is a big investment but we wanted to have a major attraction for VMY 2014," he said. Lim said in view of i-City being a Malaysia Super Corridor (MSC) Malaysia Cybercentre-certified development, the company wanted not only a normal wax museum but one that incorporates multimedia technology.

The Red Carpet@i-City will have 100 wax figures, including that of the country's first Prime Minister Tunku Abdul Rahman, at the proclamation of independence. Other Malaysians to have their wax figures displayed at the Oscar-night-themed museum are actress Tan Sri Michelle Yeoh and badminton superstar Datuk Lee Chong Wei. Other exhibits at the 30,000 sq feet attraction include the British royal family, international movie stars, sports icons and world leaders. The highlight is the interactive part of the museum which will have life-like wax figures of Korean superstar Psy, Michael Jackson and even Elvis Presley singing and dancing.