10/03/2025

Editorial T: 03-7784 6688 F: 03-7785 2625 E: sunbiz@thesundaily.com Advertising T: 03-7784 8888 E: advertise@thesundaily.com

SCAN ME

MONDAY | MAR 10, 2025

NCT Group adopts dynamic pricing for hospitality assets

Ű BY JOHN GILBERT sunbiz@thesundaily.com

KUALA LUMPUR: NCT Group is exploring dynamic pricing strategies for its Genting Highlands hospitality assets, staying ahead of market trends and elevating its service offerings. The strategies include demand based pricing, package optimisation, value-added enhancements and direct booking incentives to ensure accessibility for travellers both domestically and internation ally and capitalise on peak periods. Ion Majestic Hospitality

o Company outlines key strategies to attract luxury, family and business travellers to Wyndham Ion Majestic and 1001 Nights Hotel in Genting Highlands

accommodations, event spaces, and recreational facilities that appeal to a diverse clientele,” Tee said. Grand Ion Majestic, with a gross development value of RM1.6 billion, features three towers with 1,885 serviced apartments and hotel rooms and 17,800 sq ft of retail space. The first tower is the Wyndham Ion Majestic Hotel, an 850-room hotel that opened in May last year. The remaining two towers have been completed and house the 1,035-room 1001 Nights Hotel. The design of 1001 Nights Hotel, which opened in December 2024, was led by renowned Chinese branding expert Professor Zhao Ming and adds a significant layer of appeal to the Chinese market. Further, Tee noted that NCT Group recognises the immense potential of key markets such as China and India, particularly with the introduction of free visa entry for these countries in December 2023. He said this policy change already fueled a significant influx of tra vellers in 2024, with positive pro jections for continued growth in 2025. “Our Genting Highlands develop ments are strategically positioned to capitalise on this opportunity and cater to the unique preferences of these high-potential travellers. Through our collection of offerings, we aim to capitalise on the visa exemption, along with the increase in airline capacity and flight frequencies, to attract more visitors from China and India.” Tee said NCT Group’s Genting Highlands properties also cater to the meetings, incentives, con ferences and exhibitions (MICE) market with a 1,200-capacity

ments. Federal ports have consistently demonstrated sound financial per formance, collectively generating RM32.46 billion in revenue between 2019 and 2023. “Transparent reviews of proposed tariff adjustments are essential to prevent shippers from bearing undue financial burdens for develop ment and infrastructure expenses,“ he said. Soh said while FMM supports sustainable and equitable develop ment of Malaysia’s ports, tariff revisions must be transparent, justi fiable, and aligned with Malaysia’s economic objectives. “We strongly urge MOT to defer the proposed tariff increase until a comprehensive review is completed, ensuring that Malaysia’s ports remain competitive and cost-efficient,” he added. – Bernama “Property development remains our core business. However, we recognise the significant potential of the hospitality sector and anticipate it contributing 20% to 30% to our overall operations. These projects allow us to leverage our expertise in integrated de velopment and create synergistic opportunities across our portfolio,” he said. banquet hall that offers stunning views. It is the highest and biggest (high-altitude) facility of its kind in the country. “Our versatile spaces are suitable for conferences, seminars, and gala events and top-tier amenities and expert planning support them. We also enhance Genting Highlands’ MICE appeal by hosting regional events that attract international visitors,” Tee said. He noted that the upcoming Hard Rock Cafe at Wyndham Ion Majestic, the highest in Asia Pacific, will strengthen Genting Highlands’ entertainment scene with a globally recognised brand. Tee said the partnership with Wyndham Hotels & Resorts ele vates accommodation options, leveraging its global network and loyalty programmes to attract diverse travellers. “These collaborations combine NCT Group’s local expertise with the global reach of Hard Rock and Wyndham, enhancing Genting Highlands’ appeal as a premier leisure destination.” When asked if NCT Group’s hospitality projects align with the company’s broader growth stra tegy, Tee said they are integral to it and serve as a key pillar in the diversification and expansion efforts.

Sdn Bhd executive vice president Tee Yih Fung said the Wyndham Ion Majestic and the 1001 Nights Hotel, NCT Group’s premium hos pitality assets in Genting Highlands, are leveraging several key strategies to drive revenue growth in this highly competitive market. “Our affiliation with Wyndham provides access to global distribution and loyalty programmes, attracting high value travellers. “We also en

“By staying ahead of market trends and continuously elevating our offerings, we are confident that NCT Group’s hospitality assets will play a key role in reinforcing Genting Highlands as a premier destination while driving sustainable revenue growth,” Tee told SunBiz . He said NCT Group has set ambitious targets for its Genting Highlands hospitality assets,

aiming to maintain their occupancy rates above 70%.

hance guest ex periences with personalised services, ad vanced techno logy and curated offerings for luxury seekers, families and busi ness travellers. “Additionally, we are tapping into stra

This, he said, aligns with the increasing visitor numbers and growing demand for accommodations in the area. “The rise in leisure and group travel significantly influences NCT Group’s market positioning and stra

tegic partnerships with travel platforms, air lines, and tourism boards to boost visibility and drive direct bookings. Tee says NCT Group has set ambitious occupancy rate targets for its Genting Highlands hospitality assets, aiming to maintain a high occupancy rate of over 70%.

tegic initiatives. To cater to these trends, NCT Group focuses on en hancing guest experiences by offering a range of amenities and services tailored to families, groups and leisure travellers. This includes luxury

FMM urges govt to postpone proposed 30% increase in port tariffs

KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) has called on the government to postpone the implementation of the proposed 30% increase in port tariffs, particularly for container handling and storage, as it will have major implications on cost of doing business for manufacturers and shippers. FMM president Tan Sri Soh Thian Lai disclosed that the Port Klang Authority (PKA) and the Johor Port Authority (JPA) are in the process of finalising the tariffs increase for Westports, Northport and Port of Tanjung Pelepas (PTP) for submission to the Transport Ministry (MOT) for gazettement. “With Port Klang handling 14 million twenty-foot equivalent units (TEU) annually, at a current container handling tariff of RM300 per 20-foot container, the proposed 30% increase

would add RM90 per container. “This increase would result in an additional RM1.26 billion in annual costs, directly impacting shippers and manufacturers relying on the port for imports and exports,”he told Bernama when contacted on Saturday. FMM has been the permanent chair and secretariat of the Malaysian National Shippers’ Council since 2015. Soh cautioned that higher tariffs would reduce Malaysia’s cost competi tiveness, cause redirection of shipping traffic to neighbouring countries with lower tariffs and ultimately jeopardise Malaysia’s position as a key player in the global supply chain. The proposed higher tariffs would also raise Port Klang’s container handling fees to US$130 (RM573) per TEU from US$120, matching or exceeding those of major competitors such as Singapore and Hong Kong.

“Malaysia’s ports have long been recognised as cost-effective options for shippers, offering competitive tariffs compared to regional players such as Singapore, Hong Kong, and India. “However, the proposed 30% tariff increase threatens to undermine this advantage, creating a wider disparity with Asean neighbours like Thailand, Vietnam and Indonesia, where container handling fees remain signi ficantly more affordable,“ Soh said. According to him, storage charges beyond the free period will surge from RM15 per day to between RM51.75 (up 245%) and RM95.40 (up 536%) for a 20-foot import container, following the tariff adjustments. Similarly, for a 20-foot export container, rates will rise from RM4 per day to between RM13.80 (up 245%) and RM25.44 (up 536%).

“These substantial cost increases will further burden industry, worsen Malaysia’s declining competitiveness, and hinder efforts to streamline trade and logistics operations,“ he said. Soh also called for transparent reviews of the proposed tariff adjustments, as the 30% hike could lead to double charging shippers for costs that port operators are already obligated to cover. According to him, port operators are contractually obligated to finance all development and infrastructure costs using their operational revenues under the existing concession agree