Genting Malaysia theme park will not be completed until end-2017

Genting Malaysia’s theme park, Twentieth Century Fox World Malaysia will not be completed before the end of 2017, says Japanese-brokerage Nomura.

The theme park, covering over 100,000 square meters, is slated to have 25 rides inspired by popular twentieth Century Fox films.

In Oct. 2015, Genting Malaysia opted to delay the initial opening date of the theme park to late 2016 due to the ringgit’s sharp depreciation.

Nomura’s analysts said it was a “negative surprise” for investors of the originally RM5 billion makeover of the Genting Highlands resort, as the budget for the revamp has expanded more than double.

In discussions with Genting Malaysia management, Nomura estimates the reasons for the increased budget include a depreciation in the ringgit of 20 percent vs the U.S. dollar since 2013, an increase in scope of some of the works, where theme park attractions are being built from scratch, and preliminary designs are refined further.

Nomura also added the expected capital cost of the theme park was around a quarter of the total revamp budget.