File photo shows Sentoria’s water parks pre-pandemic. The group has temporary ceased its theme parks, nature park and waterparks operations at Bukit Gambang, Langkawi and Kuching respectively upon the implementation of the initial movement control order since March 18, 2020 until to date.
KUCHING (August 19) : Sentoria Group Bhd’s (Sentoria) leisure and hospitality division, encompassing projects such as the Borneo Samariang Water Park in Kuching, continues to suffer from the Covid-19 pandemic.
According to the group in its Annual Report 2021, this division was loss making in financial year 2021 (FY21) due to diminished sources of income as most of its business operations were suspended whilst the fixed overhead costs that include salary, security personnel expenses, and rental expense continued to be incurred.
“For leisure segment, the group has temporary ceased its themeparks, nature park and waterparks operations at Bukit Gambang, Langkawi and Kuching respectively upon the implementation of the initial movement control order since March 18, 2020 until to date,” it said, explaining that its leisure park facilities are capital intensive in nature with fixed or semi-fixed operating costs.
“It is envisaged that the leasure and hospitality division would take longer before it could resume to its normal operation level and restore its profitability under the current Covid-19 situation.
“The group’s leisure and hospitality business is envisaged to remain tough and the timing of resumption for the operations is very much dependant on the success of the national’s efforts in combating the spread of Covid-19 virus and the rollout of Covid-19 vaccination in Malaysia.”
Under Sentoria’s portfolio is the Bukit Gambang Resort City, which encompasses Bukit Gambang Water Park, the largest water theme park on the East Coast of Peninsular Malaysia covering an area of about 46 acres within a lush secondary jungle environment, thus providing a natural tropical ambience to the various water rides and attractions.
Adjacent to BGWP is Bukit Gambang Safari Park nestled within 138 acres of secondary jungle. BGSP is the largest zoo safari park in Malaysia with more than 300 species of wild animals from all over the world.
Other theme parks under the group’s leisure and hospitality division include the Borneo Samariang Water Park in Kuching and Langkawi Nature Park in Langkawi, Kedah.
Meanwhile, Sentoria’s property development segment continue to see disruptions in operations due to Covid-19 and various movement control orders implemented by the government throughout the year have led to delay in completing the property development projects especially projects in Sarawak.
Among its projects include the Borneo Samariang Resort City which lies within Bandar Baru Samariang, a new satellite township rapidly taking shape north of Kuching.
The current development of this resort city includes the Borneo Samariang Water ParkP, service apartments and MICE facilities, and commercial and residential properties.
The on-going developments in Borneo Samariang Garden, the residential and commercial component of Borneo Samariang Resort City, include 428 units of Ataria service apartment and 586 units of single-storey terrace house, with an aggregate gross development value of approximately RM273.8 million.
As at March 31, 2021, the total outstanding order book and unbilled sales amounted to RM304.6 million from its ongoing projects in Kuantan, Morib and Kuching.
“As a result, the group has recognised significant liquidated ascertained damages as disclosed in the financial statements,” it continued.
“The group has resumed operations for certain areas of property development projects while adhering to the standard operating procedures and directives issued by the government throughout the period.
“The group has also activated its business continuity plan and implemented various procedures in its business conduct to reduce the risks of spread and safeguard its employees and customers.
“However, the management is unable to reliably estimate the financial impact of Covid-19 on the group’s financial results for the financial year ending March 31, 2022 as the pandemic has yet to run its full course hence the current situation is still fluid.
“The directors shall continuously assess the impact of COVID-19 on its operations as well as the financial position for the financial year ending March 31, 2022.”