KUALA LUMPUR (June 10): Yong Tai Bhd (KL:YONGTAI) announced that it had signed a collaboration agreement with Sichuan Tourism Investment Group (STIG), a state-owned enterprise from Sichuan province, China, to revitalise the operations of the Encore Melaka theatre.

In a statement on Monday, Yong Tai said it is preparing to resume shows at Encore Melaka next month. Under the collaboration, Yong Tai will leverage STIG’s extensive experience and expertise to manage and operate the theatre, with a target of achieving a 70% occupancy rate within six months.

STIG, established in April 2017, is a company approved by the Sichuan provincial government, with a diverse portfolio including hotels, scenic spots, aviation tourism, commercial properties, cultural sports, and wellness ventures.

Encore Melaka, a state-of-the-art theatre, is considered the crown jewel of Yong Tai’s signature project, Impression City. The group holds a 30-year concession to stage the Impression Series — Encore Melaka, a show highlighting the city’s rich history and cultural heritage. However, since its debut in July 2018, Encore Melaka has struggled with low occupancy rates and ticket sales.

STIG will appoint a general manager to oversee Encore Melaka's operations, including scheduling performances, organising activities, and providing financial reports. STIG will also handle publicity, marketing, and promotions to boost ticket sales and audience engagement. Additionally, STIG will maintain the theatre's assets and ensure smooth functioning while collaborating with Yong Tai on key personnel appointments.

"We anticipate a successful transformation that will see Encore Melaka thrive as a premier cultural destination,” Datuk Wira Boo Kuang Loon, chief executive officer and executive director of Yong Tai said.

At the close, Yong Tai shares increased one sen to 29 sen, valuing the company at RM118.44 million.