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PlayTown
Founder's Pitch Retail Sophisticated
Overview Financial Model Revenue Buildup Scenario Derivation IPO Basis
Data room · Investor derivation layer · Rawang, Selangor

Every ringgit in the model, traced to a facility.

The standalone financial model produces one line — RM 1.58m Year 1 rising to RM 6.67m at Year 7 peak. This page decomposes that aggregate into the ten underlying revenue streams, exposes the physical maximum of each (the ceiling imposed by ticket price × operating hours × days per year × facility capacity — not an achievable target), and lets you drag the utilisation slider to test the model at your own assumptions.

The question this page answers "Are you being over-optimistic, or fair?"
Locked pricing & operating windows

The Mar-2026 price list is the input, not a guess.

Every projection below traces to the ticketing price list dated 04-March-2026. Prices exclude 6% SST. Peak = Fri/Sat/Sun/PH/school holidays (≈ 120 days/year). Off-peak = Mon–Thu.

Pricing & operating windows 04-Mar-2026 · locked

Mini Football (7v7)RM 85/hr off-peak · RM 130/hr peak · 1 pitch Y1–Y2, 2 pitches Y3+
Pickleball (5 courts)RM 25/hr off-peak · RM 40/hr peak
Splash (Wet)RM 30 off-peak · RM 38 peak · 2hr session, 3/day, 280 pax/session cap
Outdoor (Dry)RM 18 off-peak · RM 24 peak · 3hr session, no re-entry
Indoor SoftplayRM 23 off-peak · RM 28 peak · 3hr session
All-Parks ComboRM 79 off-peak · RM 99 peak · unlimited hours, re-entry, any Splash session
Community courtRM 5 off-peak · RM 8 peak per day
Retail (7 units)RM 4,500/month per unit · sub-let starts Y3
Gerais (8 units)RM 800–1,200/month base rent · plus GTO share on tenant F&B sales · sub-let starts Y1
Operating days~350/yr park · ~300/yr Splash (weather)
Free adults1 free adult per paying child ticket
Facility-by-facility · sorted by revenue share

Ten revenue streams. Each with capacity math.

Move the utilisation slider on any card to test that facility's revenue at different assumptions. The model's projected utilisation is highlighted. The headroom line shows how much revenue capacity remains untouched at Y7 peak.

Aggregate check — the ten streams sum exactly to the standalone total.

If the facility buildup is real, the sum of the individual streams should reproduce the standalone model's total PT_REV line. It does — to zero error.

Year 1 · Launch
RM 1.58m
Sum of 10 facilities · matches standalone Y1
Year 5 · Ramp
RM 6.28m
Multi-facility ramp complete
Year 7 · Peak
RM 6.67m
Full seasoning
Year 12 · Taper
RM 3.92m
Facility age modelled in
12-yr Cumulative
RM 56.35m
Gross revenue across the project
12-yr EBITDA
RM 25.13m
44.6% blended EBITDA margin
Reconciliation ✓ — the 10 facility-level streams above sum exactly to the standalone model's Total Gross Revenue line: Y1 RM 1,575,362 · Y7 RM 6,669,946 · Y12 RM 3,916,192. Source: Financial Model Playtown Rawang P2A dated 11-May-2026 (tab "Updated Facility-VP2A").

Verdict on the projection posture

None of the ten lines is projected at its physical maximum. At Y7 peak, revenue streams sit at 15% to 88% of the ceiling imposed by ticket price × hours × days × capacity. The 53%-of-revenue Wet & Dry Park runs at 21% of session-fill max. Indoor Softplay at 15%. Mini Football at 52% (across 2 pitches from Y3+). Pickleball at 43%. Only the two sub-let lines (Retail 85%, Gerais 88%) approach their envelope — because those are occupancy-based, not throughput-based, and the ceiling itself is finite (7 units × RM 4.5k, 8 gerais × RM 800–1,200 + GTO). The model isn't projecting sold-out days at any zone. It's projecting a park running at 30–50% of what mature throughput could deliver — a fair projection with growth headroom preserved for multi-site expansion.

← Baseline
Financial Model (live sliders)
Drag the operating levers on the standalone model. Every number you see here traces back.
Companion →
Scenario Derivation
How Bear, Bear+, Base and Stretch are built as lever changes on the same model.
Companion →
IPO Valuation Basis
Bursa FEC comparables, P/E waterfall — why RM 200m base and RM 300m stretch.
Full brief →
Sophisticated Investor Brief
The four scenarios and the IPO Math calculator built on top of this baseline.
PlayTown Rawang · Investor Data Room
Prepared by Playtown Ventures Sdn Bhd + Real Moments Sdn Bhd · Model version: Financial Model Playtown Rawang P2A · 11-May-2026
Pricing source: Ticketing Price List dated 04-March-2026 · Prices exclude 6% SST

Contact ken@playtown.my · Investor relations esther@playtown.my