Richard Koh Interview
in the region. And while they are on board, we are also looking at LEGOLAND coming into Johor, Malaysia, by 2012, as well as an indoor kids’ educational theme park due to be ready in the same period in Kuala Lumpur, Malaysia. Apart from these, there are many other new players coming into countries such as Vietnam, Malaysia, South Korea, etc. With all these new players rushing into south east Asia, the industry will have very stiff competition, which is seen to be healthy as well. The industry’s other challenges will be global health issues, where if any disease breaks out, our industry will be one of the first to be affected. The market would cut or reduce public area visits as diseases spread easily at such locations. Economic issues would also impact the industry as the market would reduce spending on recreation and entertainment overall. The spending power of the respective markets is also a challenge, as new theme park brands may cost more in entry fees which the population in some countries may not be able to afford. This would create an impact as to whether a park would be sustainable. Or, if they market it internationally, would the tourists travel to visit it? So spending power is a challenge, but repeat visitation is critical for all parks to sustain business growth.
IP: The Only World Group includes a number of different brands. How important do you feel brands are within the leisure industry and do you think all operators should try to create their own strong brand identity? RK: As mentioned earlier, the industry is now more and more demanding with Disney Hong Kong, Ocean Park and the newly opened Universal Studios, Singapore, as well as LEGOLAND, Hello Kitty and Thomas and Friends in the pipeline. It is very important that operators have a strong brand identity in order to pull in the numbers.
IP: Similarly, how important is intellectual property to operators these days? Do you feel it brings the perceived benefits one might imagine it would? RK: It is very important that new players in this industry operate with intellectual property in place. You will definitely see the benefit from the brand. Being in an industry that provides fun and entertainment, intellectual property is extremely critical. We need to ensure that what is being designed comes with a lot of character, theming, is user friendly and is as exciting as one can ever imagine. With such property for sure it would benefit the user/visitor as it would provide total value for money, with the excitement it gives for the person, the experience gained from the property and the repeat visitation that is created. That’s what the industry seeks - an increase in repeat visitation. The industry’s major role is to provide fun and entertainment for all, so it (IP) will surely bring perceived benefits to those who have experienced the total concept and theming of a property.
IP:What opportunities for further growth do you see for the attractions industry in Malaysia and south east Asia generally, in the future? RK: Our industry totally relies on a population/volume based market and in my opinion we already have too many players in the industry, but the population is not seen to support the growth of new parks in Malaysia. All of us in the industry here in Malaysia are sharing the same cake which is getting smaller and smaller in terms of market share size. Parks which are rather cheaper do see higher (numbers of) return visitors as compared to high end parks. With the introduction of new international branded theme parks in Malaysia, yes the industry is seen to grow further, but the future of whether these parks are sustainable would be something that we all have to wait and see. Apart from Malaysia, countries such as Indonesia, Thailand, the Philippines, Vietnam and Laos could become major players for the industry as such recreational attractions are limited (in these countries) but they have the population to sustain more parks. Unlike Malaysia and Singapore, these countries can contribute further opportunities for growth in the industry.
IP: How will the Only World Group develop in the future? RK: We are always looking for new, unique concepts for new property developments that will bring the industry to the next level. We are always searching for the best and “Only the Best.”
Personally speaking
Not a lot of people know this but I am quite good at …driving fast cars, as I love fast cars
The best piece of advice I ever received was …get it done today as tomorrow is another day!
The most interesting place I’ve ever been too is … Tibet My favourite film is …James Bond 007
If I could be anyone else for 24 hours I’d be …Donald Trump I always laugh at …funny movies /comedies My favourite musician/band is …the Bee Gees To really chill out I …Take a drive in my Ferrari
I really dislike …People who make excuses and don’t get things done
If I could, I would …Like to make the world a fun, safe and better place for everyone to live in
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